Meltzer, Lippe, Goldstein & Breitstone, LLP
Success is built on identifying a need and then meeting it. That is pretty much how the current CFO and Financial Executive Committee got its genesis. “When we started the current committee about four years ago, you couldn’t really call it a committee,” says co-Chair Ira Halperin, “It was more of a forum.”
A recent decision of Delaware Chancery Court (the “Court”) has left many corporations and directors wondering whether their current bylaws are sufficient and clear enough to address certain indemnification and advancement issues. Generally, directors are protected to a great extent under a corporation’s bylaws, especially with regard to indemnification.
On November 15, 2007, the Securities and Exchange Commission (SEC) voted unanimously to adopt several rule amendments designed primarily to enable smaller companies to raise capital more effectively and ease some of the historically burdensome reporting and disclosure requirements.
On July 30, 2002, President Bush signed into law the Sarbanes Oxley Act of 2002 (“SOX”). Rule 404 of SOX requires public companies to annually provide investors with an assessment of the quality of their internal control over financial reporting. Accelerated filers, typically large public companies, were required to comply with the requirements of Rule 404 for its first fiscal year ending on or after November 15, 2004.
In 2011, the executive, legislative and judicial branches of the U.S. government focused their not inconsiderable efforts on the regulatory regime surrounding investment advisers. This article provides an overview of selected court decisions, and regulatory and legislative actions significantly affecting the asset management business.
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