July 8, 2014 –
‘Loser pays’ bylaws; small-biz financing; more (Securities Edge June recap)

Here is your recap of important topics we covered last month. Did you miss them? Sign up now to receive future blog posts by email as soon as each is published.

Limiting power of proxy advisory firms

Congress to the rescue? Congressman hints at legislation to rein in proxy advisory firms

Public companies should be making decisions based on what makes sense for the company and shareholders, not arbitrary policies of ISS or Glass Lewis. Representative Patrick McHenry (R-NC) suggests three solutions to curb the excessive power wielded by proxy advisory firms. Read more >>

Seeking balance in fee-shifting bylaws

Fee-shifting bylaw proposal moved to the back burner pending further investigation

A recent Delaware Supreme Court decision partially validates fee-shifting bylaws; now, the Delaware Bar Association may seek to limit its application.

The Delaware legislature seems to want further analysis so as not to disenfranchise publicly traded companies that have come to Delaware because of the state’s business-centric approach. It will likely ultimately insist on a balanced approach. This could be achieved in a couple different ways. Read more >>

ISO small business financing

States take the lead on crowdfunding

Given the uncertainty regarding the status of federal crowdfunding regulation, some states have taken bold steps to establish crowdfunding exemptions at the state level.

While the longstanding federal intrastate exemption has been of limited utility to issuers, it may offer some real benefits when used in conjunction with these state crowdfunding initiatives. Read more >>

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