The Second Circuit on Monday made insider trading a lot more risky by permitting the government to assert a criminal complaint against a tipper without showing that the tipper received personal benefit by reason of providing the tip. Over the … Continue reading
Stephen Honig
Somewhat below the radar screen, in late October the FDA has changed the ground rules concerning manufacture and distribution of homeopathic drugs. Refusing to endorse the then-status quo policy by issuing an official regulation, the FDA stated that the current … Continue reading
Earlier this month, the SEC proposed amendments affecting the process by which shareholder proposals are evaluated for inclusion in public company proxy statements. In the proposed amendments, the SEC has maintained the $2,000 minimum ownership requirement, but shareholders seeking a … Continue reading
It is boom time, particularly in the tech sector, and CEO compensation is climbing. Comp consultants are in their heyday. Twenty-five years ago, comp consultants were hired by management; today they are hired by boards of directors to figure out … Continue reading
Don’t normally post about international or domestic politics, but over the last week or so I found striking similarities between the political pressures in China and in the United States. My comments are not designed to be partisan (those thoughts … Continue reading
On Monday of this week the SEC addressed its enforcement initiatives for the coming year. No major changes, but things to note: The Commission lacks staff to police all issues, including cyber issues. It expects all companies to have a … Continue reading
It used to be routine for law firms to file litigation against parties to M&A transactions, alleging among other things inadequate disclosure of material facts and unfair compensation to equity holders of the acquired party. Many of these suits were … Continue reading
Today the SEC announced an amendment, effective in about two months, of regulations that will allow all companies to “test the waters” for an IPO without risking violation of the Securities Act. The original regulation allowed emerging companies (as defined) … Continue reading
Last week I posted that eight States had sued the SEC over the allegedly weak content of the SEC Regulation BI that set fiduciary standards for registered investment advisers and something a bit less robust (and more confusing perhaps) for … Continue reading
Why does the Mass Transit Authority, that runs public transit, have a fleet of new vehicles with ID numbers that run into the 900s? Don’t these people believe in mass transit? Why are twenty or so of these cars parked … Continue reading