In response to recent high profile insider trading incidents conducted by tippees who received inside information from corporate insiders, especially in connection with public offerings made in Japan, on July 4, 2012, the Financial Services Agency of Japan (the “Japan FSA”) appointed the “Working Group on Insider Trading Regulations” (the “Working Group”) to evaluate and make recommendations regarding the future direction of the insider trading regulations in Japan.
Category: Law
MoFo- China Renewed Focus on Corruption
China’s Renewed Focus on Anti-Corruption Efforts Highlighted by a New Interpretation on Criminal Offense of Paying Bribes – By Sherry Xiaowei Yin, Timothy W. Blakely, Daniel P. Levison, and Calvin Mingyi Jin
The LDP’s Campaign Policy Platform – Sections on Corporate Governance
Accelerating corporate governance reform
Equity Market Reform, Investment, and New Firm Performance – (Eberhart)
Abstract – We examine how institutional changes that lower the barriers to successful exit influence the rate of IPO, and the initial capitalization and performance of subsequent ventures in Asian contexts. Such IPO market reforms are widespread, but their effectiveness in unclear, especially in Asia
“Shining Light on Corporate Political Spending” – by Lucian A. Bebchuk and Robert J. Jackson, Jr.
Abstract: This Article puts forward the case for SEC rules requiring public companies to disclose their political spending. We present empirical evidence indicating that a substantial amount of corporate spending on politics occurs under investors’ radar screens and that shareholders have significant interest in receiving information about such spending. We argue that disclosure of corporate political spending is necessary to ensure that such spending is consistent with shareholder interests.
Testing the Financial Literacy and Expertise of Audit Committee Members
This article in the CPA Journal (see link below) covers a very worthy topic: how much financial literacy should audit committee members have, and how should you measure it. Can you answer all these questions correctly?
First Monthly “Financial Crime Update” by Linklaters
Welcome to the first edition of our new monthly publication
highlighting recent developments in financial crime. We are
sending you Financial Crime Update as you have previously
received its sister publication, Regulatory Investigations Update,
which has featured financial crime news until now.
Linklaters: A review of law on Foreign Corrupt Practices in19 jurisdictions across the Americas, Asia-Pacific and Europe
A replete and very usefulreference/guide book!! Foreign corrupt practices represent a serious risk to all organisations with international ctivities. The risk goes not only to financial loss, but also to commercial relationships, reputation, liability and criminal exposure.
MOFO: Amendment to Japanese Investment Management Regulations in Response to AIJ Incident
On October 12, 2012, in response to the recent AIJ scandal, the Financial Services Agency of Japan (the “Japanese FSA”) published a draft amendment to certain rules (“Draft Rules”) intended to revamp the regulation and supervision of discretionary advisory businesses, particularly with respect to employees’ pension fund (kōsei nenkin kikin) clients.
Skadden: Gatz Highlights Standards for Affiliated-Party Transactions
In Gatz Properties, LLC v. Auriga Capital Corp.,1 the Delaware Supreme Court required a manager and controlling member of a Delaware limited liability company to satisfy the entire fairness standard of conduct and judicial review for a conflict transaction because the LLC agreement required affiliated-party transactions to be no less favorable than those entered into with arms-length third parties.