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The Financial Markets Standards Board has published a consultation on its transparency draft of its statement of good practice on the governance of sustainability-linked products. SLPs are products whose financial and/or structural characteristics can vary depending on whether the user (i.e.,
federal government both increased its spending in the area and the speed with which it adopted guidelines on the utilization of AI more generally. As general interest and investment in AI has accelerated since the initial public launch of ChatGPT, so too has the U.S. This tracks other actions outside the U.S.,
The Small Business Administration (SBA) recently issued a proposed rule (Rule) that would significantly change a government contractor’s obligations to recertify its size and socioeconomic status under set-aside contracts and the effect of such recertifications.
Morrison Foerster’s State and Local Government Task Force is pleased to provide our bimonthly newsletter summarizing some of the most important and interesting developments from state attorneys general across the country and local government agencies and legislative bodies, with links to primary resources.
Strengthening Board Control - OpenAI is exploring governance changes that would grant its nonprofit board enhanced voting rights to prevent a hostile takeover by Elon Musk. This move follows Musks $97.4 billion bid, which was rejected by OpenAIs board, and his legal efforts to block its transition to a for-profit entity.
This article discusses compliance “Buy America” provisions in federal procurement laws and how the Federal Acquisition Regulations (FAR) implement some of those commitments in government contracts.
This briefing is the seventh in our series of briefings on corporate governance and is designed to provide a synopsis of topical corporate governance matters impacting companies in the United Kingdom. This briefing tracks developments identified in our previous briefings and outlines new matters of interest.
Part 42 of the Federal Acquisition Regulation (“FAR”) addresses the contract administration and audit services for federal Government contracts. As we discussed in a prior Alert, parties buying or selling a business must consider how to properly transfer the seller’s contracts to the buyer. By: Smith Anderson
Florida recently implemented amendments to its Securities and Investor Protection Act (Chapter 517), bringing significant changes to the regulatory framework governing private placements, investment advisors, and exemptions for institutional investors.
The Canadian government has proposed giving the Minister of Innovation, Science and Industry the ability to direct the Competition Bureau to conduct market studies with the ability to compel production of related documents and testimony from market participants, among other amendments. By: Stikeman Elliott LLP
The UK government has released its latest annual report on the National Security and Investment (NSI) Act, covering the period from 1 April 2023 to 31 March 2024.
As the UK Government seeks to put sustainability at the heart of the beautiful game, in this article we consider: The Bill’s introduction to Parliament represents the culmination of several years of UK Government activity focused on increasing regulation in men’s football. By: Allen & Overy LLP
The Situation: The Australian government has restated its commitment to foreign investment and announced procedural reforms to Australia's foreign investment framework.
The Australian Government has commenced consultation on options to reform Australia's merger regime, including a shift to a mandatory suspensory regime. Businesses have until 19 January 2024 to respond to the consultation. By: White & Case LLP
government’s funding bills are now set to expire on March 1 or March 8, 2024. It is therefore possible once again that there will soon be a government shutdown, with important consequences for the Hart-Scott-Rodino (HSR) filing process and the running of the HSR waiting period. By: Kramer Levin Naftalis & Frankel LLP
The Australian Government (the Government) opened consultation on Australia’s proposed merger notification thresholds. The Consultation Paper proposes a notification regime that consists of four different thresholds—two based on monetary thresholds and two based on market concentration. By: K&L Gates LLP
In Brief - On 10 October 2024, the Australian Government introduced a bill into Parliament for Australia to enact a mandatory and suspensory competition merger clearance regime. By: K&L Gates LLP
The latest edition of Davies’ Governance Insights is now available. In this issue, we explore 10 important trends that will help general counsel and boards navigate the year ahead.
The Situation: On September 10, 2024, the UK government published the third National Security and Investment Act 2021 Annual Report ("2023/2024 Annual Report"), revealing longer processing times for foreign direct investment ("FDI") reviews, but lower rates of Phase 2 call-ins and conditions being imposed. By: Jones Day
With increasing variation of transactions comes increasing variation of equity providers and their requests and requirements related to the governance of the investment vehicles they share with their independent sponsor partners. By: Holland & Knight LLP
At a meeting of business leaders and global investors in London in mid-October, Prime Minister Sir Keir Starmer told the audience that his government would "rip up" Britain's bureaucracy in a bid to unlock the "shock and awe of investment."
On December 17, 2024, the U.S. Small Business Administration (SBA) issued a Final Rule (Rule") that will dramatically change the landscape for the Merger and Acquisition (M&A) market for both large and small businesses.
To address the limitations of the current temporary marketing permission regime (“TMPR”), which permits EEA funds marketed in the UK before Brexit to continue to access the UK market, the UK government introduced the overseas funds regime (“OFR”). By: Cadwalader, Wickersham & Taft LLP
The government has fired up investors by encouraging banks to lend more to buyers of stock and real estate, but economists say more stimulus is needed.
In a move that has long been advocated for by the Australian Competition and Consumer Commission (ACCC), the Australian government has announced sweeping reforms to Australia's competition law merger control regime. By: K&L Gates LLP
The UK government recently issued a Call for Evidence seeking input from stakeholders regarding potential changes to how it enforces the National Security and Investment Act (NSIA), which enables the UK government to scrutinise certain investments in the United Kingdom on national security grounds.
The UK government is considering steps to make the regime more business-friendly, while maintaining and refining essential national security protections. The National Security and Investment Act 2021 (NSIA), the UK’s first standalone regime for screening investments on national security grounds, has been in force for two years.
In addition to the new resources allocated to the Government unit in charge of the French FDI laws, the French government adopted, on 28 December 2023, additional measures which. France is currently strengthening its foreign direct investment (“FDI”) screenings regime. By: Hogan Lovells
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.
Hot on the heels of the UK governments February 2025 draft "strategic steer", the Competition and Markets Authority (CMA) has published a new Mergers Charter. The Charter details principles the CMA will apply when engaging with businesses during a merger review, and what it expects from businesses in return.
TD Cowen identified government contractors with the highest amount of dollars obligated in fiscal year 2023, both overall and by individual federal department.
In late January 2024, the Federal Trade Commission (“FTC”) released an updated operating plan in the event Congress does not pass a funding bill and the government shuts down. In a dramatic departure from prior practice, the FTC for the first time plans to also close down its premerger filing operations during such a scenario.
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.
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.
With the passing of Bill C-56, the most recent in an ongoing series of amendments to the Competition Act have now been enacted (with more expected to follow). The Commissioner of Competition has been pushing for amendments to the Act for years, following several significant losses in front of the Competition Tribunal and Federal Court of Appeal.
The Situation: Boards of directors face increasingly intense workloads, pressure to respond to developments in real time, and exposure to a higher level of legal risk than ever before. By: Jones Day
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.
Governments introduced sweeping regulations, enforcement actions intensified and pivotal court rulings sent ripples across the crypto ecosystem. By: Polsinelli
Banks would have greater autonomy when identifying MRTs but would need to tighten governance guardrails. PRA and FCA proposals to revamp bankers remuneration rules would reduce the number of in-scope material risk takers (MRTs), while enabling more MRTs to benefit from proportionality exclusions.
The New Measures introduce several key changes to the regulations governing foreign strategic investments in A-share listed companies and cross-border share swaps. The New Measures will take effect on December 2, 2024. By: Sheppard Mullin Richter & Hampton LLP
The electric vehicle company Canoo went public in a de-SPAC transaction in December 2020. After its stock price fell, a stockholder in the SPAC who chose not to redeem his stock sued the SPAC board and its controller for breaching their fiduciary duties. By: Jones Day
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