State Shareholder Nomination Rights

The nice thing about being a corporate and securities lawyer is that I'm never at a loss for new reading material.  Just as I was beginning to despair about what to read after the Dodd-Frank Act, the Securities and Exchange Commission issued its...

CalPERS Corrects Placement Agent Notice (Again)

Yesterday, the California Public Employees Retirement System (CalPERS) issued another corrected notice regarding its proposed placement agent disclosure regulations.  The notice had incorrectly stated that the CalPERS Investment Committee would...

Bills Making Last Dash to Enrollment

With the current legislative biennium ending next week, here are some key dates to keep in mind:

Does George Babbitt Need a Broker-Dealer License (Part III)?

Yesterday's post concerned additional exemptions for real estate brokers under the California Corporate Securities Law.  Today's post is the final in this series (for now).

Does George Babbitt Need a Broker-Dealer License (Part II)?

Last week, I discussed the real estate broker exemption from broker-dealer licensing requirements in California Corporations Code § 25206.  Commissioner's Release 62-C provides additional clarifying comments regarding this exemption.

It's Friday and the DOC and CalPERS are Closed (Again)

On July 30, I reported that "Furlough Fridays" would be returning to most state agencies in August.  Yesterday, Shane Goldmacher wrote in this Los Angeles Times story that efforts by several state employee unions to block furloughs have been...

Does George Babbitt Need a Broker-Dealer License (Part I)?

A developer wants to acquire a piece of property but lacks sufficient capital.  She forms a limited partnership to acquire the land and begins looking for investors.  If a licensed real estate broker is involved, must that broker be licensed as a...

At CalPERS, the News Continues to be Bad

Last month, Evan Halper of the Los Angeles Times wrote this story about the level of transparency at the California Public Employees Retirement System (CalPERS).  In this story, he reports that while CalPERS has hired an outside law firm, "[w]hat...

Does the Dodd-Frank Act Revive the CA Bucket Shop Law?

California has had its current Bucket Shop Law on the books since 1949.  The Bucket Shop Law, among other things, voids all contracts for the purchase or sale of shares without any intention on the part of one party to deliver, and the other party...