New independence rules for compensation committees and their advisers
Section 952 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 directs the national securities exchanges to adopt new listing standards applicable to compensation committees and compensation advisers. The Securities and Exchange Commission implemented Section 952 of the Dodd-Frank Act by adopting Rule 10C-1 under the Securities Exchange Act of 1934, as amended, on 20 June 2012. Rule 10C-1 sets forth certain requirements regarding, in part, compensation committee independence, compensation committee authority to retain and be directly responsible for the consultants and advisers it retains, compensation committee analysis of the independence of compensation consultants and advisers, and disclosure of any conflicts of interests concerning compensation consultants.
Click on the link above to download this Latham & Watkins briefing.
News from The Lawyer
Briefings from Latham & Watkins
Jurisdiction of the Hong Kong Courts re winding up and unfair prejudice petitions — offshore companies
Hong Kong law contains a number of provisions designed to protect the interests of minority shareholders, including the “unfair prejudice” remedies under section 168A of the Companies Ordinance and the Ordinance’s “just and equitable” winding-up provisions.
The EU’s banking union proposals, consolidating the European regulatory supervision of credit institutions
On 12 September 2012 the European Commission adopted legislative proposals, including a draft EU Regulation, to establish a single supervisory mechanism for banks which is to be led by the European Central Bank.
Analysis from The Lawyer
Why has Herbert Smith Freehills (HSF) decided to walk away from the Singapore qualifying foreign law practice (QFLP) scheme?
When a firm shouts loudly about a landmark merger, as SJ Berwin did when it joined forces with King & Wood Mallesons, departures are always likely to come under the spotlight.