Legal/Regulatory

ARTICLESEC Votes 3-2 to Adopt Alternative Uptick Rule March 01, 2010The Securities and Exchange Commission voted 3-2 to adopt a short sale-related circuit breaker solution (the "Alternative Uptick Rule") to limit excessive short selling pressure on individual stocks.

ARTICLESEC Issues Interpretive Guidance Regarding Climate Change Disclosure February 10, 2010The SEC voted to issue an interpretive release providing guidance for disclosures relating to climate change. While the release imposes no new disclosure obligations, it does serve to remind reporting companies that a number of existing SEC disclosure regulations may require disclosure of certain matters relating to the potential effects of climate change.

ARTICLEManaging Corporate Conduct: The Board's Role in Internal Investigations February 09, 2010Recently, a group of attorneys, general counsel, and directors met to discuss corporate misconduct and methods of internal investigation. Paul Jacobs and Richard Smith, both partners at Fulbright & Jaworski L.L.P., and TK Kerstetter, president and CEO of Corporate Board Member, led the group in an exchange of ideas on how best to mitigate risk, deal with inquiries and claims, and limit disclosure.

ARTICLECitizens United: Supreme Court Opens the Door for Unlimited Corporate Election Spending February 01, 2010In a very significant ruling, the United States Supreme Court opened the door to unlimited spending by corporations for election related advertising—including ads that expressly advocate the election or defeat of specific candidates—at the federal, state, and local levels.  The Court upheld the provisions in the law that required disclosure of funding for the ad and inclusion of a “disclaimer” in the ad.