In this lw.com interview, Brauer describes 2015 as the breakthrough year of proxy access and discusses evolving trends in shareholder-company engagement, the hottest shareholder proposals and issues of increasing concern to investors.
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The NYSE has filed a proposed rule change that is immediately effective. The NYSE proposes to amend Section 202.06 of the Listed Company Manual to: expand the pre-market hours during which listed companies are required to notify the Exchange prior to disseminating material news; and provide the Exchange with authority to halt trading. The Exchange also proposes to amend Section 202.06 of the Manual to provide guidance related to the release of material news after the close of trading on the Exchange.
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On August 25, 2015, the participating jurisdictions of the proposed Cooperative Capital Markets System (the Cooperative System) published for comment a revised consultation draft of the uniform provincial/territorial Capital Markets Act (CMA) and draft initial regulations. The comment period is open until December 23, 2015. Additional draft initial regulations will be published for comment in the coming months, including a harmonized set of prospectus exemptions and a fee regulation.
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Over the past 25 years, hedge fund activism has emerged as new form of corporate governance mechanism that brings about operational, financial and governance reforms to a corporation. Many prominent business executives and legal scholars are convinced that the entire American economy will suffer unless hedge fund activism with its perceived short-termism agenda is significantly restricted.
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On August 25, 2015, the participating provinces and territory in the Cooperative Capital Markets Regulatory System achieved an important milestone towards implementation of the system by publishing a revised consultation draft of the uniform provincial and territorial capital markets act (now known as the Capital Markets Act), along with the drafts of the initial regulations proposed for adoption by the participating provinces and territory under the draft uniform act. These materials have been published for a 120-day public comment period.
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The Canadian Securities Administrators (CSA) have proposed amendments to the rules relating to reports filed with securities regulators in connection with private placements.
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Following the announcement of its first chair of the board of directors for the participating jurisdictions, there continues to be momentum toward the establishment the proposed Cooperative Capital Markets Regulator.
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A closer look at how the controversial new metric affects institutional investors.
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