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This briefing is the seventh in our series of briefings on corporategovernance and is designed to provide a synopsis of topical corporategovernance matters impacting companies in the United Kingdom. This briefing tracks developments identified in our previous briefings and outlines new matters of interest.
On September 13, 2024, in the Federal Register, the Treasury and IRS published proposed regulations implementing the corporate alternative minimum tax (“CAMT”).
Quicker and easier sharing of customer information relating to economic crime concerns between firms in the UK financial sector has been encouraged by provisions in the Economic Crime and Corporate Transparency Act 2023 (Act), which came into force on 15 January 2024. The UK Government published accompanying guidance in October 2024.
On Monday, Delaware State Senator Bryan Townsend introduced Senate Bill 21 which would, among other things, statutorily define "controlling stockholder" and substantially change the rules governing the "cleansing" of controlling stockholder transactions.
Beginning January 22, 2024, federal corporations will be required to provide certain information from their registers of individuals with significant control (“ISC Registers”) to the federal government, which will then enter that information into what is to become a publicly accessible database.
The Corporate Transparency Act (the “CTA”), which became effective on January 1, 2024, requires certain domestic and foreign companies doing business in the United States to file a beneficial ownership report with the U.S. Originally Published in Quorum: Insights Into CorporateGovernance, M&A and Securities Law - April 10, 2024.
Corporate finance jobs at normal companies are bad … …if you’re using them to break into a deal-based field, such as investment banking , private equity , or venture capital , or as a “Plan B” if you interview around but do not get into one of these. In my view, corporate finance jobs are not ideal “stepping stone roles.”
In our previous client alert, The Rise of the “Occasional Activist,” we discussed the increase in shareholder activism through 2022 by “occasional activists” – investors who are not funds dedicated to activist strategies or who do not regularly employ activist tactics, such as institutional investors and individuals, including company insiders.
Enhanced SFO powers and promises of swifter action on economic crime underscore the importance of anti-fraud measures for corporates and M&A dealmakers. The UK government is cracking down on corporates turning a blind eye to fraud and other economic crime. By: Latham & Watkins LLP
On July 17, 2024, Delaware Governor John Carney signed into law amendments to the Delaware General Corporation Law (DGCL) from Senate Bill 313 that had sparked considerable controversy within the corporate law and governance community.
Starting January 1, 2024, virtually all private companies will be required to report information about their beneficial owners to the Treasury Department’s Financial Crimes Enforcement Network “FinCEN”) under the Corporate Transparency Act (the “CTA”). By: Farrell Fritz, P.C.
the Delaware Court of Chancery held that certain governance rights granted to a corporation’s significant stockholders were statutorily invalid. N-able, Inc.,
The Delaware General Corporation Law (DGCL) now codifies the power of corporations to enter into valid and enforceable agreements with stockholders concerning certain governance rights regardless of whether such rights are expressly provided for in a corporation’s charter. By: Pillsbury Winthrop Shaw Pittman LLP
On April 18, 2024, the Financial Crimes Enforcement Network (FinCEN) released further guidance regarding to Corporate Transparency Act compliance (CTA) by updating and expanding the Beneficial Ownership Information Reporting Frequently Asked Questions regarding the Beneficial Ownership Information (BOI) Reporting Rule (FAQs).
Yellen that the Corporate Transparency Act (the “Act”) is unconstitutional. The court ruled that none of the legislative powers identified by the government, including the Commerce Clause, Congress’ taxing power, its authority over foreign affairs and national security, and the Necessary and Proper.
This quarter we are covering some key court decisions regarding securities and corporategovernance issues. Supreme Court reaffirmed a majority of lower court decisions to require traceability in defining the term “such security” under the Securities Act of 1933.
Introduction - The latest EY-Parthenon Deal Barometer reveals an anticipated 12% increase in corporate mergers and acquisitions (M&A) activity for the year 2024, with more than a third of CEOs actively planning to make an acquisition in the next 12 months. By: Onna Technologies, Inc.
The latest amendments (the “Amendments”) to the Delaware General Corporation Law (the “DGCL”) went into effect today, August 1, 2024, to address, among other things, (i) stockholder agreements related to corporategovernance; (ii) remedies for terminating merger agreements, including lost premium damages; and (iii) what form documents must be in for (..)
Much has been written about the Corporate Transparency Act (“CTA”), which was enacted on January 1, 2021, and went into effect on January 1, 2024. Briefly, the CTA requires “reporting companies” to disclose beneficial ownership information (“BOI”) to the federal government.
On November 13, the Government Accountability Office (GAO) sustained a protest by DecisionPoint Corporation concluding that when the Air Force determined EmeSec, a wholly owned subsidiary of DecisionPoint, was ineligible for award for not having the correct certification, it improperly ignored the effect of a novation.
On 19 July 2023, the Department for Business & Trade published draft regulations (the “Regulations”) which will introduce the new corporate reporting reforms that the Government promised with the conclusion of its Restoring Trust in Audit and CorporateGovernance review.
On June 8, 2023, the Ministry of Economy, Trade, and Industry (“METI”), a Japanese government agency tasked with promoting economic vitality in the private sector,[1] published (in draft form) the first revision in nearly two decades to key corporategovernance and public takeover guidelines (such draft, the “2023 Guidelines”).
My colleague Liz Dunshee has a long-running “Women Governance Trailblazers” podcast over on TheCorporateCounsel.net. Recently, Liz & her co-host Courtney Kamlet interviewed Christina Bresani, who heads William Blair’s corporate advisory practice.
McCormick granted in part and denied in part defendants’ motion to dismiss claims seeking to invalidate the acquisition of a gaming company (“Target”) by a large technology company under Delaware General Corporation Law (“DGCL”) Sections 251 and 141 and asserting claims of conversion. Sjunde Ap-Fonden v. Activision Blizzard, Inc.,
There are five crucial areas of focus that will impact mergers, acquisitions and corporategovernance going forward: New Hart Scott Rodino (HSR) rules are expected in weeks, not months. By: Stinson LLP
In the dynamic and ever-evolving landscape of mergers and acquisitions (“M&A”) and related corporate transactions, Delaware courts continue to play a pivotal role in shaping legal precedents and guiding corporate practices. By: Sheppard Mullin Richter & Hampton LLP
About Fireline Corporation Founded in 1947 and headquartered in Baltimore, Maryland, Fireline inspects, services, and installs a complete range of fire protection systems and equipment, including fire alarms, sprinklers, extinguishers, special hazard suppression systems, restaurant hoods, vehicle suppression, and specialized water mist systems.
DOJ, FTC, and HHS jointly announced the launching of a cross-government public inquiry into increasing private equity and corporate involvement in health care, the latest announcement in a string of public statements from the federal government on the topic. By: Jones Day
The past few months have seen numerous high-profile enforcement actions highlighting an increasing trend, what Deputy Attorney General Lisa Monaco called “the biggest shift in corporate criminal enforcement that I’ve seen during my time in government: the rapid expansion of national security-related corporate crime.”
Sidley is pleased to share the June 2024 issue of Sidley Perspectives on M&A and CorporateGovernance , a quarterly newsletter designed to keep you current on what we consider to be the most important legal developments involving M&A and corporategovernance matters.
The lion’s share of cases we write about on New York Business Divorce involve consummated business relationships where the warring parties have clearly chosen the particular entity form governing their relations, whether it be partnership, corporation, or limited liability company. By: Farrell Fritz, P.C.
Corporate accounting is a special kind of accounting meant for businesses to record and monitor money movement. Knowing how corporate accounting works and its role in facilitating the growth of a business is important because it plays a fundamental role in the smooth functioning of business financials. What is Corporate Accounting?
Move follows last-minute change in corporate structure of Barclay family’s UAE-backed consortium The government has said it intends to launch a second investigation into the Barclay family’s complex deal to transfer control of the Telegraph, after its UAE-backed consortium partner revealed a last-minute corporate structure change that has raised public (..)
On March 6, the Federal Trade Commission (“FTC”), the Department of Justice’s Antitrust Division (“DOJ”), and the Department of Health and Human Services (“HHS”) (the “Agencies”) announced that they were “launching a cross-government public inquiry into private equity and other corporations’ increasing control over health care.”.
New York, NY – The Korea Trade-Investment Promotion Agency (KOTRA) in New York is excited to announce its strategic partnership with MergersCorp M&A International, an american leading investment banking and advisory firm specializing in mergers and acquisitions (M&A) and corporate finance.
Effective January 1, 2024, multinational companies (“MNCs”) intending to do business in Kingdom of Saudi Arabia (“KSA”) with a KSA government entities are required to incorporate their regional headquarters (“RHQ”) in KSA.
The EIB Group report describes the EIB Group’s corporategovernance practices, in place in 2023, which comprises data on the Bank’s governance and shareholding structure as of 31 December 2023.
The government released proposed regulations this month implementing the excise tax imposed on repurchases of corporate stock that was enacted in 2022.
Mergers and acquisitions involving companies that conduct business with the federal government present a unique set of challenges. Several statutes and regulations are implicated in such corporate transactions, whether the federal government is a company’s smallest customer or its only customer. On March 18, 2024, U.S.
Investment is a cornerstone of corporategovernance under Federal Decree-Law No. 32/2021 on Commercial Companies Law (Companies Law), where shareholders play a pivotal role in the financial health and prosperity of a company.
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