Dodd-Frank.com

Recent CLE Materials – Minnesota Law

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David Jenson and I recently presented at the Minnesota CLE’s annual Business Law Institute.  Our formal 2011 case and statutory summary can be accessed here and our PowerPoint can be accessed here.  We’ve also included our summary from 2010 here.   Among other things, they contain plenty of cautionary tales for... Read More

Topics: Litigation, Uncategorized

SEC Approves FINRA Rule Change Regarding Non-Arbitration of Whistleblower Disputes

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On November 21, 2011, the Financial Industry Regulatory Authority, Inc., or FINRA, filed with the SEC a proposed rule change to amend FINRA Rule 13201 of the Code of Arbitration Procedure for Industry Disputes (‘‘Industry Code’’) to align the rule with statutes that invalidate predispute arbitration agreements for whistleblower disputes.... Read More

Topics: Broker-Dealer, Litigation

Sentencing Commission Acts on Dodd-Frank

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The United States Sentencing Commission is considering promulgating certain amendments to the sentencing guidelines, policy statements, and commentary.  With respect to the Dodd-Frank Act the action includes: An issue for comment in response to the issue of harm to the public and financial markets, as raised by each of two... Read More

Topics: Litigation

Social Media Fraudster Causes Knee Jerk SEC Reaction

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The SEC recently commenced an enforcement action against a registered investment adviser who allegedly “offered more than $500 billion in fictitious securities through various social media websites. For example, he used LinkedIn discussions to promote fictitious “bank guarantees” and “medium-term notes.”” Obviously a situation to be dealt with harshly.  We... Read More

Topics: Broker-Dealer, Investment Advisers, Litigation, Private Equity

One Cincinnati Bell Say-on-Pay Case Settled, Second in Limbo

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Cincinnati Bell has agreed to settle one of the say-on-pay law suits which is pending against it in the Hamilton County Court of Common Pleas.  The lawsuit arises out of the shareholder’s “say on pay” vote taken at Cincinnati Bell’s May 2011 annual meeting. The Dodd-Frank Wall Street Reform and... Read More

Topics: Employment, Executive Compensation, Litigation, Public Companies and Securities

Faultless Sarb-Ox Clawbacks for CEOs and CFOs – Delay Lets You Negotiate Down

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The SEC has announced that the former chief executive officer and chairman of CSK Auto Corporation, Maynard Jenkins, has agreed to return $2.8 million in bonus compensation and stock profits that he received while the company was committing accounting fraud.  Mr. Jenkins was not personally charged by the SEC with... Read More

Topics: Executive Compensation, Litigation, Public Companies and Securities