California Corporate & Securities Law

Last month the New York Stock Exchange issued its annual corporate governance memorandum.  The memorandum provides useful updates and reminders for companies with securities listed on the exchange, including the following:

I recently wrote about Magistrate Judge Jacqueline Scott Corley's ruling in  t'Bear v. Forman, 2019 U.S. Dist. LEXIS 19460. In that post, I focused on the question of the enforcement of loans made by an unlicensed lender. The case also involved a...

The California Financing Law enjoins anyone from engaging in the business of a finance broker without a license from the Commissioner of Business Oversight. Cal. Fin. Code § 22100(a). The CFL, however, defines "broker" in a decidedly unhelpful...

In California, real estate broker licenses are currently issued only to individuals and corporations. Limited liability companies need not, indeed may not, apply. This is a result of a compromise that was reached when California’s original limited...

California has thousands of statutes on the books. Over the years many have become outdated, referring to laws, agencies and office titles that no longer exist. For the public, this can be very frustrating as it is not always clear whether there is...

The California Financing Law (fka Finance Lenders Law) prohibits anyone from engaging in the business of a finance lender without obtaining a license from the California Commissioner of Business Oversight (unless exempt). Cal. Fin. Code § 22100(a)....

United States District Court Judge Haywood S. Stirling, Jr. yesterday blocked a stockholder's attempt to use California's shareholder inspection statute to gain access to a corporation's "books and records and minutes of proceedings of the...

California's female director quota law has received a great deal of attention in this blog and elsewhere. Beginning this year, the law requires certain publicly traded companies with their principal executive offices in California to have at least...

Earlier this week, the Securities and Exchange Commission staff added two new Compliance and Disclosure Interpretations dealing with disclosures of self-identified diversity characteristics under Items 401(e) and 407(c)(2)(vi). Both C&DIs pose the...