"Out, damned spot!"

In this post from last June, I addressed the unfortunate legislative legerdemain known as the spot bill.  "Yet here’s a spot."  Assembly Member Jared Huffman has continued the practice with his introduction of a AB 361.  Because AB 361 in its...

"Shut, Shut The Door, Good John!" Bill Introduced To Close Revolving Pension Fund Door

Last week in this post, I wrote about the California Controller John Chiang's announced intention to sponsor legislation to shut the revolving door between California's two largest public retirement systems, CalPERS and CalSTRS, and the private...

"Hello, Newman" - E-Mail Bill May Add To Post Office Woes

On Valentine's Day, the United States Postal Service announced that it had begun its 2011 fiscal year with a loss of $329 million.  In announcing these results, the USPS cited "electronic diversion" as implying "long term structural changes in...

Another Fissure In The Internal Affairs Doctrine?

In this post from last November, I mentioned two New Jersey decisions applying New Jersey law rather than the law of the state of incorporation.  Krzastek v. Global Resource Industrial & Power, Inc., No. A-1815-06T2 (N.J. Super. Ct. App. Div. Sept....

The Shades Of Samson Occum, Daniel Webster And John Marshall Haunt New LLC Act Bill

Nearly two decades ago, I co-wrote an article describing a new form of business entity - the limited liability company - and pondering whether California would ever enact laws authorizing the organization of LLCs.  Bishop & Rizzi, "Are Limited...

Video: Dodd-Frank Act To Increase State Oversight Of Hedge Fund Advisers
Controller To Sponsor Bills Aimed At Influence Peddling At CalPERS And CalSTRS

On February 3, 2011, California Controller John Chiang sent this letter to Rob Feckner, Chairman of the California Public Employees Retirement System.  The Controller is an ex officio member of the CalPERS Board of Administration.

Man Bites Dog: SEC Staff Overrules Congress

Yesterday, Broc Romanek reported in his blog that the Securities and Exchange Commission staff has posted several new Compliance and Disclosure Interpretations with respect to Say-on-Pay.  In particular, I noted that the staff disagrees with...

CalPERS' Placement Agent Investigators Admit Cooperation With The SEC and Prosecutors

On Wednesday, February 16, 2011, the Board of Administration of the California Public Employees Retirement System will consider proposed steps to implement the twelve recommendations resulting from a special review by an outside law firm of...