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 Congress.

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...

Why Is There No Withhold Box?

The Securities and Exchange Commission has long required that a form of proxy relating to matters other than election to office provide a means to specify by boxes a choice between approval or disapproval of, or abstention with respect to, each...

The Flexible Purpose Corporation - Can It Serve Two Masters?

Last year, the Senator Mark DeSaulnier introduced SB 1463 to provide for an entirely new form of entity - the flexible purpose corporation. SB 1463 did not move forward and died at the end of the 2009-2010 legislative biennium. With the deadline for...

Video: Say On Pay: The Dodd Frank Act Challenges Executive Compensation
Section 2115, The Internal Affairs Doctrine And Mandatory Indemnification Of Successful Agents

Last Friday, I wrote in this post about mandatory indemnification of agents pursuant to California Corporations Code § 317(d). California's neighbor to the East, Nevada, also requires indemnification of agents in much the same terms as California....

California To Require Website Disclosure Regarding Efforts To Eradicate Slavery And Human Trafficking

In this post, Broc Romanek declares the new federal conflict minerals disclosure requirement to be the "Dodd-Frank sleeper".  Here in California, I think the "sleeper" of its 2009-2010 legislative session is the California Transparency in Supply...

Agency - One Of The "Three Great Relations In Private Life"

Suppose you are sued and win. Then, your luck runs out with your spouse and your last, best friend. To make matters worse, you've run up big legal fees but have no insurance and no indemnification agreement. Moreover, no statute and no agreement...