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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
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- Elina Tetelbaum
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HLS Faculty & Senior Fellows
Author Archives: Harvard Law School Forum on Corporate Governance and Financial Regulation
June 2012 Dodd-Frank Progress Report
This posting, the June 2012 Davis Polk Dodd-Frank Progress Report, is one in a series of Davis Polk presentations that illustrate graphically the progress of the rulemaking work that has been done and is yet to occur under the Dodd-Frank Act. The Progress Report has been prepared using data from the Davis Polk Regulatory Tracker™, […]
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Posted in Financial Regulation, Legislative & Regulatory Developments, Practitioner Publications, Securities Regulation
Tagged Dodd-Frank Act, SEC, SEC rulemaking
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The Volcker Rule Distraction
Since JPMorgan Chase announced a trading loss of at least $2 billion, reporters, analysts, and politicians have focused anew on the Wall Street Reform and Consumer Protection Act. President Obama signed this financial-regulation law, known as Dodd-Frank, into law nearly two years ago, on July 21, 2010. Recently, observers have placed most of their attention […]
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Editor’s Note: Jeffrey Gordon is the Richard Paul Richman Professor of Law at Columbia Law School. I think that folks are missing the implications of the JPMorgan Chase (JPMC) London losses, including FDIC board member Thomas Hoenig in this Monday’s Wall Street Journal. The JPMC situation illustrates the problems that derive from the shift in […]
Click here to read the complete postProxy Voting Fact Sheet
The declassification of the board of directors is emerging as one of the key highlights of the 2012 proxy season, as shareholder proposals on the subject continue to receive overwhelming support. This and other data from nearly 500 annual general meetings (AGMs) held at Russell 3000 companies in the January 1-April 30 period are discussed […]
Click here to read the complete postThirty-Three Declassification Proposals Win Approval with Average Support of 82%
Editor’s Note: Professor Lucian Bebchuk is the Director of the Shareholder Rights Project (SRP), and Scott Hirst is the SRP’s Associate Director. Any views expressed and positions taken by the SRP and its representatives should be attributed solely to the SRP and not to Harvard Law School or Harvard University. With the current proxy season […]
Click here to read the complete post“Limit Up-Limit Down” Plan and Circuit Breakers Approved
On May 31, 2012, the SEC approved two proposals submitted by the national securities exchanges and FINRA that are designed to dampen volatility in the stock market following the May 6, 2010 flash crash: the establishment of a “limit up-limit down” plan that would temporarily prevent trading in a particular listed stock in the event […]
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Posted in Practitioner Publications, Securities Regulation
Tagged Capital markets, Circuit breaker, FINRA, Market conditions, SEC
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Federal Reserve Proposes Revised Bank Capital Rules
Recently, the Board of Governors of the Federal Reserve System (the “FRB”) approved for publication three notices of proposed rulemaking (the “NPRs”) substantially amending the risk-based capital rules for banks. [1] The FRB also approved final amendments to the market risk rules (the “Market Risk Amendments”), often referred to as “Basel II.5”. [2] The NPRs […]
Click here to read the complete postCross-Border Application of Dodd-Frank Swaps Market Reforms
Editor’s Note: Gary Gensler is chairman of the Commodity Futures Trading Commission. This post is based on Chairman Gensler’s remarks before the 2012 FINRA Annual Conference, available here. I would like to focus my remarks on swaps market reform and specifically on how it fits into the international context. International Swaps Market – Historically Unregulated […]
Click here to read the complete postAdvice for Boards in CEO Selection and Succession Planning
Selecting the chief executive officer and planning for CEO succession are among the most important responsibilities of a company’s board of directors. In ideal circumstances, the succession process will be managed by a successful and trusted incumbent CEO, with the board or a board committee overseeing the process, reviewing the candidates and providing advice throughout. […]
Click here to read the complete postAccounting Discretion, Loan Loss Provisioning and Discipline of Banks’ Risk-Taking
In our paper, Accounting Discretion, Loan Loss Provisioning and Discipline of Banks’ Risk-Taking, forthcoming in the Journal of Accounting and Economics, we empirically delineate economic consequences associated with differences in accounting discretion permitted to banks under existing regulatory regimes. Policy makers argue that loan loss accounting should allow bank managers’ more discretion to incorporate forward-looking […]
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