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Program on Corporate Governance Advisory Board
- Peter Atkins
- David Bell
- Kerry E. Berchem
- Richard Brand
- Daniel Burch
- Paul Choi
- Jesse Cohn
- Arthur B. Crozier Christine Davine
- Renata J. Ferrari
- Andrew Freedman
- Ray Garcia
- Byron Georgiou
- Joseph Hall
- Jason M. Halper William P. Mills
- David Millstone
- Theodore Mirvis
- Philip Richter
- Elina Tetelbaum
- Sebastian Tiller
- Marc Trevino Jonathan Watkins
- Steven J. Williams
HLS Faculty & Senior Fellows
Author Archives: Harvard Law School Forum on Corporate Governance and Financial Regulation
Applying Securities Laws to Social Media Communications
This month marked an important milestone in the development of securities law at its newest frontier: social media. For the first time, the Enforcement Division of the U.S. Securities and Exchange Commission (“SEC”) issued a Wells Notice based on a social media communication. This Wells Notice, which notified Netflix, Inc. and its CEO of the […]
Click here to read the complete postPE Funds Are Not Subject to “Controlled Group” Liability
Private equity funds (PE funds) and their advisors long have been concerned that a fund (or its other portfolio companies) may be liable for unfunded pension plan liabilities of one of its portfolio companies. However, in a decision published last month, the U.S. District Court of Massachusetts held that three PE funds sponsored by Sun […]
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Posted in Court Cases, Practitioner Publications, Private Equity
Tagged Corporate liability, ERISA, Pension funds, Private equity, U.S. federal courts
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Replacing the LIBOR with a Transparent and Reliable Index
Our LIBOR Reform Articles describe the main problems with the current LIBOR setting, put forward a proposal on how to reform LIBOR through a committed quote system (“CLIBOR”), and explain why the final Wheatley Review proposal on how to reform LIBOR, and its reasons for stopping short of our proposals, are not satisfactory for putting […]
Click here to read the complete postDodd-Frank Enhanced Prudential Standards for Foreign Banking Organizations
Following closely on the heels of Federal Reserve Governor Daniel K. Tarullo’s November 2012 speech, the Federal Reserve has proposed a tiered approach for applying U.S. capital, liquidity and other Dodd-Frank enhanced prudential standards, including single counterparty credit limits, risk management, stress testing and early remediation requirements, to the U.S. operations of foreign banking organizations […]
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Posted in Banking & Financial Institutions, Financial Regulation, International Corporate Governance & Regulation, Practitioner Publications
Tagged Banks, Capital requirements, Credit exposure, Dodd-Frank Act, Federal Reserve, Financial regulation, Foreign banks, International governance, Liquidity, Risk management, Stress tests
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Some Improvement in U.S. Public Equity Capital Market Competitiveness
The Committee on Capital Markets Regulation (CCMR), an independent and nonpartisan research organization dedicated to improving regulation and enhancing the competitiveness of U.S. public equity capital markets, today released data from the third quarter of 2012. According to the new study, U.S. capital markets reversed the second quarter downgrade and showed slightly improved competitiveness, though […]
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Posted in Academic Research, Empirical Research
Tagged Capital markets, Committee on Capital Markets Regulation, Equity capital, Foreign firms, IPOs
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Shareholder Empowerment and Bank Bailouts
One, of several, regulatory responses to the financial crisis has been to consider the extent to which bank failure can be explained by flaws in banks’ corporate governance arrangements. In many jurisdictions this diagnosis has generated calls upon shareholders to act as effective owners and hold boards of banks to account, as well as calls […]
Click here to read the complete postSome Thoughts for Boards of Directors in 2013
I. Introduction The years since the onset of the financial crisis have served to further increase the demands on and scrutiny of public company boards of directors. The assault on the director-centric model of corporate governance continues in the shareholder activist and political arenas, and the challenges of planning for and investing in the long-term […]
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Posted in Boards of Directors, Practitioner Publications
Tagged Boards of Directors, Corporate governance
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Governance in Executive Suites
In the paper, Governance in Executive Suites, which was recently made publicly available on SSRN, my co-author (Yao Lu) and I analyze the interplay between governance in executive suites and board monitoring. We find an exogenous shock increasing board independence weakens governance in executive suites. The empirical proxy for the strength of governance in executive suites […]
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Posted in Academic Research, Boards of Directors
Tagged Board independence, Board monitoring, Boards of Directors, Corporate governance, Management, Shocks
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Top 10 Topics for Directors in 2013
A fog of uncertainty hangs over U.S. public companies as 2013 approaches. The looming fiscal cliff, increased regulatory burdens, the ongoing European debt crisis, growing Middle East unrest and slowing global growth are just a few of the uncertainties companies will have to navigate as they chart a course for the coming year. Here is […]
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Posted in Boards of Directors, Practitioner Publications
Tagged Board meetings, Boards of Directors
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Corporate Finance Perspective on Large-Scale Asset Purchases
Editor’s Note: This post is based on the recent remarks of Jeremy C. Stein, a member of the Board of Governors of the Federal Reserve System, at the Third Boston University/Boston Fed Conference on Macro-Finance Linkages, which are available here. Given that the conference theme is macro-finance linkages, I thought I would try to lay out […]
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Posted in Banking & Financial Institutions, Financial Regulation, Regulators Materials, Speeches & Testimony
Tagged Asset-backed securities, Bonds, Debt maturity, Federal Reserve, Financial policies, Treasury Department
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