SEC adopts new rules of practice; while the new rules do not provide for compulsory pre-hearing discovery, they generally are favorable to respondents
Article Abstract:
The Securities and Exchange Commission implemented new Rules of Practice in July 1995, most notably making procedures friendlier to respondents and improving disgorgement and temporary relief measures. Papers may now be served via fax or express delivery service, pre-hearing conferences are required, and while there is still no discovery, some changes encourage certain forms of it. Document subpoenas are now returnable, and motions to dismiss are now broader and more flexible. More testimony is now admissible.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1996
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Final shareholder proposal rules fall short of reform; although the new rules may result in more proposals in proxy materials, the SEC did not drastically change the status quo
Article Abstract:
The key aspect of the 1998 SEC proxy rules is the reversal of the Cracker Barrel interpretation of the 'ordinary business' exclusion, with the shareholder proposal rules allowing a company to omit a shareholder proposal dealing with a matter relating to the conduct of the company's ordinary business from its proxy materials. The underlying policy, consistent with state corporate law, is to confine the resolution of ordinary business problems to management.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1998
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- Abstracts: IRS and courts rule on exclusion of damages received in employment discrimination and benefit plan cases. IRA proceeds included in decedent's estate; 1986 TRA transition rules not applicable
- Abstracts: The Supreme Court's role in not shaping administrative law. Regulatory reform and judicial review
- Abstracts: The color of justice. Double exposure; did the second Rodney King trial violate double jeopardy? Holding out; juries vs. public pressure
- Abstracts: What can trade associations and their officials do and say under competition law? - some recent Australian and American enlightenment
- Abstracts: ERISA does not preempt state malpractice claim. Employer not liable for ERISA s. 502(c)(1) penalties for failing to provide notification of COBRA qualification event