Last week, I wrote about the oft overlooked California Finance Lenders (CFL) law. In general, that law provides that anyone engaged in the business of making consumer or commercial loans must obtain a license from the Department of Corporations...
Recent Posts
On October 21, 2010, I will be speaking to the Business Law Section of the Bar Association of San Francisco on how to raise capital without violating California's securities laws. I plan to discuss the following topics, among others:
A bank run can start with a rumor. Once a run has begun, it can be very hard to stop, as was described in this 1986 Los Angeles Times article .
I've recently commented CalPERS' announcement that it would abstain on a proposal by Massey Energy Company to eliminate cumulative voting. Yesterday, Massey Energy reported in this Form 8-K that its stockholders did not approve the proposal. The...
Since visiting South Korea, I've had an interest in the Korean language. Therefore, I'm compelled to mention that tomorrow is Hangul Day. Hangul (한글) is the writing system used in Korea. It employs syllabic blocks consisting of at least two letters...
Yesterday, Commissioner Preston DuFauchard proposed further clarifications to the text of a proposed rule intended to respond to the California Court of Appeal's decision in People v. Cole, 156 Cal.App.4th 452 (2007). That decision engendered...
The Department of Corporations' jurisdiction is not limited to the Corporate Securities Law of 1968. In fact, it has an entire division dedicated to financial services regulation. The Department's Financial Services Division, or FSD, has...
Last Thursday, Governor Arnold Schwarzenegger signed SB 392 (Florez) into law. This bill authorizes the Contractors’ State License Board, commencing no later than January 1, 2012, to issue a contractor’s license to a limited liability company.
Last week, I expressed surprise in this post about the California Public Employees Retirement System's recent announcement that it plans to abstain on a proposal by Massey Energy Company to jettison cumulative voting. My surprise was based on the...
