The American Chamber of Commerce in Japan (ACCJ) issued a Viewpoint which calls on the Liberal Democratic Party (LDP) and the Government of Japan led by Prime Minister Shinzo Abe to act swiftly to ensure that the proposed amendments to the Company Law to be submitted to the Diet include the measures described in the LDP’s own campaign platform to accelerate corporate governance reform. BDTI closely watch (a)(iii).
Category: Law
Skadden – Rethinking Director Nomination Requirements and Conduct in an Era of Shareholder Activism
”This memorandum identifies and discusses a number of steps public companies may wish to consider regarding director nomination requirements and conduct in light of the heightened potential for arrival on the board of
activist shareholder-nominated directors.
New Turkey Code of Commerce
Turkey has promulgated a new Code of Commerce, bringing sweeping changes to the countries economic law foundations, including the requirements that all companies (private ones too) have certain information on their web site including financial statements and auditors's reports9, that companies protect minority investors and ensure the properness of related-party transacitons,, that public companies have independent directors comprising a minimum of one-third of the board (and one-halfof the board be outside.)
The LDP’s “Headquarters for the Economic Revitalization of Japan” Makes Proposals for Corporate Governance Reform
In its excellent May 10th Interim Report, the LDP's Headquarters for the Economic Revitalization of Japan 1) promised to make the introduction of one independent outside director a certainty within the year; 2) proposed rules to require public companies do disclose their policy and actions (numbers trained) with respect to training of newboard members,and continuing trainng; and 3) promised toconsidermeasures to abate cross-shareholdingsby banks, including the prohibition thereof.
ASrIA’s CEO urges action on integrated reporting framework
We have received a kind message below from Ms. Jessica Robinson, Chief Executive Officer of Association for Sustainable & Responsible Investment in Asia.
The D&O Diary: “Delaware Chancery Court: A Sweeping Vision of Outside Directors’ Foreign Operations Oversight Responsibilities?
In the current global economy, many companies have operations and assets in far-flung corners of the world. These geographically dispersed arrangements have a number of implications for the concerned companies. According to a recent decision from the Delaware Court of Chancery, the arrangements may also have important implications of these companies’ outside directors, at least for those companies organized under Delaware law.
The LDP’s “Policy Proposals” to Reform Corporate Governance, Issued Just Before the Election at the End of 2012
192. Accelerating corporate governance reform
White & Case – FSA Working Group’s Recommendations with Respect to the Insider Trading Regulations of Japan
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.
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