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Developments in Securities Regulation, Corporate Governance, Capital Markets, M&A and Other Topics of Interest

FASB Finalizes Guidance on LIBOR Reference Rate Reform Transition

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FASB has issued an Accounting Standards Update (ASU) that provides temporary optional guidance to ease the potential burden in accounting for reference rate reform.  Reference rate reform is the process of migrating away from LIBOR and other interbank offered rates to new reference rates. FASB stakeholders raised certain operational challenges... Read More

Topics: Banking, Public Companies and Securities

SEC Provides Guidance on Annual Meeting Dates and Using Virtual Meetings as a Result of Coronavirus

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The SEC published guidance to assist public companies, investment companies, shareholders, and other market participants affected by COVID-19 with their upcoming annual shareholder meetings.  The guidance is designed to facilitate the ability of companies to hold these meetings, including through the use of technology, and engage with shareholders while complying... Read More

Topics: Public Companies and Securities

FTC to Require Electronic HSR Filings due to Coronavirus

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The FTC recently released the following information.  Due to the developing COVID-19 coronavirus pandemic, and consistent with guidance from the Office of Personnel Management, the Premerger Notification Office (PNO) will implement a temporary e-filing system. During this emergency, all filings must be submitted via this system, and all hard copy... Read More

Topics: M&A

ISS Launches Climate Voting Policy

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ISS has launched a new specialty Climate Voting Policy. Other specialty voting policies maintained by ISS include SRI, Sustainability, Faith-Based, Taft-Hartley, and Public Fund policies. According to ISS, five key topical pillars undergird the Climate Voting Policy: Sector-specific materiality using ISS’ Carbon Risk Classification (CRR). Disclosure signals based on climate... Read More

Topics: ESG, Public Companies and Securities

SEC Provides Conditional Regulatory Relief for Companies Affected by the Coronavirus Disease 2019 (COVID-19)

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The SEC announced that it is providing conditional regulatory relief for certain publicly traded company filing obligations under the federal securities laws.  The impacts of the coronavirus may present challenges for certain companies that are required to provide information to trading markets, shareholders, and the SEC. These companies may include... Read More

Topics: Public Companies and Securities

SEC Charges Contracted Investor Relations Person with Disclosure Violation

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Shawn Severson is the owner and manager of EnergyTech Investor, LLC.  Between August 2015 and March 2018, UQM Technologies, Inc., or UQM, retained Severson, through EnergyTech Investor and another firm, to provide investor relations services and advice in exchange for a monthly fee. During this time, Severson provided various services... Read More

Topics: Litigation, Public Companies and Securities