Today we continue our weekly installment highlighting the best of the corporate and securities blogosphere from this past week. Highlights include the STOCK Act, the JOBS Act, trends in securities litigation filings and much more. If there are any corporate or securities blogs you think should be highlighted by our Top 5, please comment on this post and we’ll check them out!
1) Jim Hamilton’s World of Securities Regulation: President Signs STOCK Act Prohibiting Insider Trading by Federal Officials - This week’s “hard to believe this wasn’t already a law” news was the signing of the STOCK Act which bars members of Congress and their staffs, as well as executive branch and judicial branch officials and their staffs, from trading on inside information they obtain as part of the job and that is not readily available to the public. In this post, Hamilton discusses many of the issues raised by this legislation.
2) The D&O Diary: Securities Suit Filings Continue Apace in Year’s First Quarter - In this post, Kevin LaCroix breaks down this year’s trends in securities litigation filings. Notable new trends include a significant decrease in suits filed against U.S.-Listed Chinese companies as well as a marked decrease in cases filed against non-U.S. companies. A continuing trend is the large percentage of cases that are merger related which went virtually unchanged in the first three months of 2012 compared to the full year of 2011.
3) The CorporateCounsel: More on the JOBS Act: Crowdfunding - The JOBS Act was on many minds this week as it was signed by President Obama possibly triggering a surge in crowdfunding, the seemingly new approach to raising capital over the Internet. In this post, Dave Lynn details the crowdfunding provision in the Act.
4) SEC Actions: OECD Report on the SFO and the Bribery Act - The Organisation for Economic Co-operation and Development (OECD) recently released a report highlighting the efforts of the UK in the anti-corruption area. This post by Tom Gorman discusses the findings and a series of recommendations made by the group.
5) HLS Forum on Corporate Governance & Financial Regulation: SEC Enforcement to Focus on Private Equity Insider Trading and Conflicts of Interest - In this post, Latham & Watkins’ Howard Sobel warns that the private equity industry should expect increased scrutiny by the SEC, particularly with respect to insider trading and how firms address conflicts of interest. This heightened scrutiny corresponds with the implementation of new rules under the Dodd-Frank Act that will significantly increase the number of private equity firms subject to SEC regulation as “investment advisers.”