Stinson Leonard Street Dodd Frank

MAKING SENSE OF DODD-FRANK

The Dodd-Frank Act has broad and deep implications that will touch every corner of financial services and multiple other industries. This site, developed and maintained by attorneys at Stinson Leonard Street, is dedicated to making sense of this complex legislation and helping businesses understand how it will affect them specifically. Our Bloggers »

Dodd-Frank Blog

SEC Staff Updates Revenue Recognition Guidance for New Standard

Public Companies and Securities The SEC’s Office of the Chief Accountant and Division of Corporation Finance released Staff Accounting Bulletin (SAB) No. 116 that brings existing SEC staff guidance into conformity with the Financial Accounting Standard Board’s adoption of and amendments to ASC Topic 606. ASC Topic 606 sets forth the new revenue recognition standard. The SAB modifies SAB […] Read more →

by   |   August 19, 2017

SEC Approves NYSE Rule Change Regarding Dividend Notification Requirements

Public Companies and Securities The SEC has approved a change to the NYSE’s rules which requires listed companies to provide dividend notifications to the Exchange at least 10 minutes prior to... Read more →

by   |   August 17, 2017

Minnesota Supreme Court Rejects Delaware Test for Direct Versus Derivative Action

Litigation, M&A In a case arising out of the inversion transaction where Medtronic merged with Coviden, the Minnesota Supreme Court spoke on the proper test of determining when an action is... Read more →

by   |   August 16, 2017

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SEC Charges Chief Compliance Officer for Failure to Verify Information

Investment Advisers, Litigation David I. Osunkwo was a principal at Strategic Consulting Advisors, LLC, or SC Consulting. SC Consulting offered compliance consulting and CCO services to two SEC registered... Read more →

by   |   August 16, 2017

Court Decision May Slow SEC Approval of SRO Rules

Litigation, Public Companies and Securities The SEC must generally approve rules and rule changes by self-regulatory organizations, which are referred to as SROs. According to this SEC web page, there are 37 active SROs. ... Read more →

by   |   August 11, 2017

Another Working Capital Claim Fails in Delaware Because of Liability Limitations

Litigation, M&A In Chicago Bridge & Iron Co. N.V. v. Westinghouse Electric Co. LLC, the Delaware Court of Chancery declined to permit the purchaser of a business to recover a working capital... Read more →

by   |   August 10, 2017

Court Considers Fiduciary Duties in Merger under Minnesota Law

Litigation, M&A The United States District Court for the District of Minnesota considered the application of the fiduciary duties of directors in the context of a merger under the Minnesota... Read more →

by   |   August 8, 2017

Survey of 2016 Conflict Minerals Filings Released

Public Companies and Securities Development International has released its annual survey of conflict minerals reports for the 2016 reporting period which were filed in 2017. Despite the SEC’s no action... Read more →

by   |   August 7, 2017

Fed Seeks Comment on Corporate Governance Proposal for Financial Institutions

Banking In June, Treasury issued a report noting that it believes duties imposed on bank boards are too voluminous, lack appropriate tailoring, and undermine the important distinction... Read more →

by   |   August 7, 2017