Weekly Roundup: June 17–June 23, 2016

This roundup contains a collection of the posts published on the Forum during the week of June 17–June 23, 2016.

The New EU Market Abuse Regulation

Posted by Simon Witty, Davis Polk & Wardwell LLP, on Friday, June 17, 2016

Tags: Debt securities, Disclosure, ESMA, EU, Europe, Fraud-on-the-Market, Inside information, Insider trading,International governance, Listing standards, Securities regulation

What are the Consequences of Regulating Executive Compensation?

Posted by Anya Kleymenova, University of Chicago, on Friday, June 17, 2016

Tags: Agency costs, Banker bonuses, Compensation regulation, EU, Executive Compensation, Executive turnover,Financial institutions, Financial regulation, Fund managers, Incentives, International governance, Management, Risk-taking, UK

SEC Enforcement: Private Equity Broker Registration

Posted by Rajib Chanda, Simpson Thacher & Bartlett LLP, on Saturday, June 18, 2016

Tags: Broker-dealers, Fund managers, Investment advisers, Private equity, Private funds, SEC, SEC enforcement,Securities enforcement, Settlements, Solicitation

SEC Amendment to Form 10-K

Posted by Robert E. Buckholz, Sullivan & Cromwell LLP, on Sunday, June 19, 2016

Tags: Disclosure, Exchange Act, FAST Act, Financial reporting, Form 10-K, Reporting regulation, SEC, SEC rulemaking,Securities regulation

CEO Pay at Valeant: Does Extreme Compensation Create Extreme Risk?

Posted by David Larcker, Stanford University, on Monday, June 20, 2016

Tags: Agency costs, Boards of Directors, Compensation committees, Executive Compensation, Incentives, Long-Term value, Management, Pay for performance, R&D, Risk, Risk-taking, Shareholder value

Venture-Backed IPOs in 2015

Posted by Richard C. Blake, Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP, onMonday, June 20, 2016

Tags: Accounting standards, Boards of Directors, Capital formation, Charter & bylaws, Equity-based compensation, IPOs,JOBS Act, offer, Public firms, Small firms, Surveys, Takeover defenses, Tech companies, Venture capital firms

Financing Corporate Elections

Posted by Andrew A. Schwartz, University of Colorado Law School, on Tuesday, June 21, 2016

Tags: Board dynamics, Board independence, Boards of Directors, Charter & bylaws, Director compensation, Firm performance, Golden leashes, Hedge funds, Incentives, Listing standards, Pay for performance, Shareholder activism,Shareholder voting, Supreme Court

Implications of the Recent Dell Appraisal Decision

Posted by Lewis R. Clayton & Stephen P. Lamb, Paul, Weiss, Rifkind, Wharton & Garrison LLP, onTuesday, June 21, 2016

Tags: Acquisition premiums, Appraisal rights, Buyouts, Delaware cases, Delaware law, Fair values, In re Appraisal of Dell,Merger litigation, Mergers & acquisitions, Underpricing

How Economic Attention Deficit Disorder Infected the Corporate Boardroom

Posted by Jon Lukomnik, Investor Responsibility Research Center Institute, on Wednesday, June 22, 2016

Tags: Asset management, Broker-dealers, Capital markets, Disclosure, Executive Compensation, Financial reporting,Fund managers, Incentives, Long-Term value, Management, Securities regulation, Shareholder value, Short-termism

Hiring and Firing a Key Executive at Yahoo

Posted by Joseph E. Bachelder, McCarter & English LLP, on Wednesday, June 22, 2016

Tags: Boards of Directors, Compensation committees, Delaware cases, Delaware law, Equity-based compensation,Executive Compensation, Golden parachutes, Incentives, Management, Pay for performance, Severance, Shareholder activism, Stock options

The Value of Creditor Control in Corporate Bonds

Posted by Oguzhan Karakas, Boston College, on Thursday, June 23, 2016

Tags: Bankruptcy, Bondholders, Bonds, Cash flows, Control rights, Covenants, Credit default swaps, Credit risk, Debt contracts, Debt securities, Debtor-creditor law, Distressed companies, Liquidity

Activist Investors and Target Identification

Posted by Damien J. Park, The Conference Board, Inc., on Thursday, June 23, 2016

Tags: Boards of Directors, Firm performance, Firm valuation, Hedge funds, Ownership structure, Proxy advisors, Proxy contests, Proxy voting, Shareholder activism, Shareholder nominations, Shareholder value, State law, Target firm