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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
- 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
Senate-House Conference Agrees on Final Volcker Rule
Early Friday morning, the House-Senate Conference on the Dodd-Frank Act of 2010 (the “Act”) agreed on the final legislative text of the Act, including Section 619 (the “Volcker Rule”). The Volcker Rule is a revised version of an amendment introduced by Senators Merkley (D–OR) and Levin (D–MI) in the final stages of the Senate debate, […]
Click here to read the complete postVolcker Rule Looms Over Asset Management and Fund Activities of Financial Institutions
The “Volcker Rule” – first introduced in the context of current financial reform legislation by the President in January – looms large in the financial regulatory reform package approved by the Senate on May 20, 2010 (the “Senate Bill”). As highlighted in this publication, fundamental questions remain regarding how the Volcker Rule would function in […]
Click here to read the complete postProxy Access is Back to Life
Editor’s Note: Lucian Bebchuk and Scott Hirst, respectively, the Director and the Executive Director of the Program on Corporate Governance, are the authors of Private Ordering and the Proxy Access Debate, discussed here, and co-editors of the Harvard Roundtable on Proxy Access, discussed here. Media reports indicate that last night, as part of the agreement […]
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Posted in Legislative & Regulatory Developments, Op-Eds & Opinions
Tagged Dodd-Frank Act, Proxy access
1 Comment
U.S. Supreme Court Rejects “Foreign Cubed” Class Actions
In a historic decision of immense consequence to foreign securities issuers, the Supreme Court of the United States this morning swept away four decades of lower-court case law and categorically rejected a highly vexatious species of class-action litigation that has plagued such issuers in recent years—“foreign-cubed” or “f-cubed” securities lawsuits, which involve claims of foreign […]
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Posted in Court Cases, Practitioner Publications, Securities Litigation & Enforcement
Tagged Foreign squared/cubed, Morrison v. National Australia Bank Ltd., Supreme Court
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Sarbanes-Oxley ”Clawback” Developments
The SEC recently achieved a significant victory in its campaign to use the “clawback” provision under Sarbanes-Oxley to force the return of incentive-based compensation by CEOs and CFOs to issuers, even when they are not personally responsible for any alleged “misconduct.” SEC v. Jenkins, No. CV 09-1510-PHX-GMS (D. Ariz. June 9, 2010). The court in […]
Click here to read the complete postLessons for Boards from the Deepwater Horizon Tragedy
There is no doubt the oil industry, corporate America, the United States and foreign governments and people across the globe will learn many lessons from the tragic events in the Gulf of Mexico. For boards of directors across many industries, these events highlight the critical importance of effective board oversight of risk management. Most companies […]
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Posted in Boards of Directors, Practitioner Publications
Tagged Deepwater Horizons, Risk, Risk management
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A New Era for UK Financial Regulation
On 16 June 2010 the UK’s Chancellor of the Exchequer, George Osborne, unveiled sweeping reforms to the way financial institutions will be regulated in the UK in his first annual ‘Mansion House’ speech. The Chancellor plans to dismantle the Financial Services Authority (FSA), the current UK integrated regulator of firms and markets, and the UK’s […]
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Posted in Financial Crisis, Financial Regulation, International Corporate Governance & Regulation, Practitioner Publications, Securities Regulation
Tagged Financial Services Authority, UK
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Versata and Selectica File Briefs in Appeal of NOL Pill Case
Editor’s Note: This post relates to the appeal from the decision in Selectica, Inc. v. Versata, Inc., which was discussed on the Forum here. The briefs in the appeal are available here and here. This post is part of the Delaware law series, which is cosponsored by the Forum and Corporation Service Company; links to […]
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Posted in Court Cases, Mergers & Acquisitions
Tagged Delaware cases, Delaware law, Poison pills, Selectica v. Versata
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Hicksian Income in the Conceptual Framework
In the paper, Hicksian Income in the Conceptual Framework, which is forthcoming in Abacus, my co-authors (Michael Bromwich and Richard Macve both at the London School of Economics) and I provide an analytical and critical case study of the use of income theory in accounting policy making. The Financial Accounting Standards Board (FASB) and the […]
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Posted in Academic Research, Accounting & Disclosure
Tagged FASB, IASB, Income theory
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Don’t Gut Proxy Access
Editor’s Note: This post is based on an op-ed article by Lucian Bebchuk published today on the New York Times’ Dealbook, available here. Lucian Bebchuk is a professor of law, economics and finance at Harvard Law School, author of “The Case for Shareholder Access to the Ballot” and “The Myth of the Shareholder Franchise,” and co-author […]
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Posted in Corporate Elections & Voting, Op-Eds & Opinions
Tagged Proxy access
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