On November 1, 2017, the Division of Corporation Finance (Division) of the Securities and Exchange Commission (SEC) released Staff Legal Bulletin No. 14I (SLB No. 14I) to offer guidance on the scope and application of Rules 14a-8(i)(7) and 14a-8(i)(5), each of which provide a substantive basis for excluding shareholder proposals from a company’s proxy materials for shareholder meetings. SLB No. 14I also discusses a new policy requiring documentation when shareholders submit “proposals by proxy,” along with the Division’s views on the use of graphs and images in the supporting statements for shareholder proposals.
This week we highlight a speech by Stephanie Avakian, Co-Director of the SEC’s Division of Enforcement, on cybersecurity and retail investor protection. In her remarks, she addresses the key priorities of the Enforcement Division in its allocation of resources, including its focus on retail investors, cyber-related issues, the conduct of investment advisers and broker-dealers, financial fraud and disclosure issues, and insider trading.
Akin Gump real estate partner John Bain has been profiled by Metropolitan Corporate Counsel in the article “To Make Deals in Hospitality Today, You Need to Be Creative: As the challenges mount, lawyers need to adapt,” discussing his practice and the state of the hospitality sector.
To read the full article, please click here.
This week, we share a group of short videos put together by Goldman Sachs that we found very interesting. Their experts shed light some of the new and emerging words and phrases that are important to know in today’s economy. We found it thought provoking as we think more about how technology is shaping the way we work and live.
On June 30, Congress gaveled out for the July 4 recess after postponing a critical vote to begin debate on an Affordable Care Act (ACA) repeal-and-replace bill. Senate Majority Leader Mitch McConnell (R-KY) and the GOP caucus have worked for the last two months in countless hours of behind-the-scenes meetings on what many believe to be a long-shot effort to unite 50 of the 52 Republican senators.
This week we highlight an article by Globe St. which features a Q&A session with David Phelps on thriving hotel sub-brands and the concern about overbuilding. With many new brands being introduced, daily rates are either flat or declining in some markets and the oversupply could also carve into hotel chains’ loyalty clientele. This dynamic could also impact the ability to refinance down the road. David discusses these issues and shares how he’s guiding clients on development expectations.
This week we highlight an article by Corporate LiveWire on the trends occurring within traditional film financing methods. Due to the changing markets, producers have started relying more heavily on international co-production arrangements to fund their projects which have created a necessity for filmmakers to create content that can appeal to a global audience. However, any formula for developing films and other content that will find success internationally and across various cultures remains elusive. This article will provide an overview of the importance of creating content that can be successful across geographic and cultural boundaries.