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HLS Faculty & Senior Fellows
Program on Corporate Governance Advisory Board
- Peter Atkins
- David Bell
- Kerry E. Berchem
- Richard Brand
- Daniel Burch
- Paul Choi
- Jesse Cohn
- Arthur B. Crozier
- Renata J. Ferrari
- Andrew Freedman
- Ray Garcia
- Joseph Hall
- Jason M. Halper William P. Mills
- David Millstone
- Theodore Mirvis
- Philip Richter
- Elina Tetelbaum
- Sebastian Tiller
- Marc Trevino
- Steven J. Williams
Author Archives: Harvard Law School Forum on Corporate Governance and Financial Regulation
Basel Committee Revises Basel III Liquidity Coverage Ratio
The Basel Committee has made significant revisions to the Basel III Liquidity Coverage Ratio (“LCR”). The revised LCR standards allow banks to use a broader range of liquid assets to meet their liquidity buffer and relax some of the run-off assumptions that banks must make in calculating their net cash outflows. The revised standards also […]
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Posted in Banking & Financial Institutions, Empirical Research, Practitioner Publications
Tagged Banks, Basel Committee, Capital requirements, Financial institutions, Financial regulation
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New Board Challenges for Global Governance
The second set of meetings in the World Affairs Council of Atlanta’s Global Strategic Leadership Forum series focused on the new challenges facing the boards of directors of contemporary global companies. Setting the stage for the Forum’s discussions was the recognition of the huge changes that have taken place as a result of globalization in […]
Click here to read the complete postPreserving Balance in Corporate Governance
In our annual missive last year, we wrote about the need to restore trust in our system of corporate governance generally and in relations between boards of directors and shareholders specifically. We continue to be troubled by the tensions that have developed over roles and responsibilities in the corporate governance framework for public companies. The […]
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Posted in Comparative Corporate Governance & Regulation, Practitioner Publications
Tagged Boards of Directors, General governance, Governance standards, Proxy advisors, Shareholder activism
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Second Circuit Rules on Short-Swing Profit
On January 7, 2013, the Second Circuit Court of Appeals ruled that Section 16(b) of the Securities Exchange Act of 1934, which provides for the disgorgement of profits that corporate insiders realize “from any purchase and sale, or any sale and purchase, of any equity security” of the corporate issuer within any period of less […]
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Posted in Court Cases, Practitioner Publications
Tagged Exchange Act, Exchange Act s.16, Securities litigation
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Do Outside Directors Face Labor Market Consequences?
Do directors face consequences for their poor performance? We examine this question in Do Outside Directors Face Labor Market Consequences? A Natural Experiment from the Financial Crisis, a draft of which we recently posted to the SSRN. We theorize that the exogenous shock of the financial crisis made shareholders and regulators particularly attuned to financial […]
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Posted in Academic Research, Banking & Financial Institutions, Boards of Directors, Financial Crisis
Tagged Boards of Directors, Financial crisis
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Transition Period for Swaps Pushout Rule
The OCC has published long-awaited guidance notifying federally-chartered insured depository institutions (“IDIs”) that it is prepared to grant applications to delay compliance with Section 716 of the Dodd-Frank Act (the “Swaps Pushout Rule”) for up to two years. [1] The Swaps Pushout Rule will become effective on July 16, 2013. A federally-chartered IDI [2] must […]
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Posted in Banking & Financial Institutions, Financial Regulation, Legislative & Regulatory Developments, Practitioner Publications
Tagged Banks, Dodd-Frank Act, OCC, Swap pushout rule, Swaps
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Private Equity Trends in 2012
We wish we could tell you something fascinating about what happened to the private equity industry in 2012. But it was just not that kind of year. Private equity deal volume was flat compared with 2011. New funds continued to be raised at a modest pace. There were no particularly interesting new developments in the […]
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Posted in Practitioner Publications, Private Equity
Tagged Private equity
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White Collar and Regulatory Enforcement: Emerging Trends
Anyone watching white collar and regulatory enforcement developments unfold during 2012 knows that the government’s appetite for bringing huge cases against major companies, including massive fines, extensive remedial undertakings, and extended monitorships, has continued unabated. It is, admittedly, a gloomy picture, and most commentators (and law firms) have tended to outdo each other in stressing […]
Click here to read the complete postHow Costly Is Corporate Bankruptcy for Top Executives?
To what extent are CEOs filing for bankruptcy tainted by the bankruptcy event? On the one hand, the CEO bears a major responsibility for the firm going broke. After all, the filing might have been avoided if the CEO had managed to reduce firm leverage or otherwise reorganize debt claims in time to stay out […]
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Posted in Academic Research, Bankruptcy & Financial Distress, Executive Compensation
Tagged Bankruptcy, Control rights, Executive Compensation, Executive turnover
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Harvard Convenes the Institutional Investors Roundtable
The Harvard Institutional Investor Roundtable convened last Thursday, January 24. This event brought together for a roundtable discussion the top governance officers of leading public pension funds, mutual funds, and other institutional investors, both from the US and from abroad. The institutions represented hold assets under management in excess of $14 trillion. Some academics, issuers, […]
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