The SEC adopted amendments to its rules under the Securities Act of 1933 and Securities Exchange Act of 1934 that will require registrants to provide certain climate related information in their registration statements and annual reports. The final rules will
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NYSE Updates Shareholder Approval Rule
The NYSE amended its shareholder approval rules to make it easier for listed companies to sell securities to passive existing shareholders without obtaining shareholder approval. The SEC approved the change on an accelerated basis.
Section 312.03(b)(i) of the NYSE’s Listed…
2024 ISS Policy Update: Severance Arrangements
It appears the lone ISS policy update for the US will be to Severance Agreements for Executives/Golden Parachutes.
ISS will vote on a case-by-case basis on shareholder proposals requiring that executive severance (including change-in-control related) arrangements or payments be submitted…
SEC Issues Staff Report on Accredited Investor Definition
The SEC issued a staff report on the accredited investor definition. The Dodd-Frank Wall Street Reform and Consumer Protection Act directs the Commission to review the accredited investor definition as it relates to natural persons every four years to determine…
Annual Limits on Qualified Plans for 2024
On November 1, 2023, the Internal Revenue Service (IRS) released Notice 2023-75, which sets forth the 2024 cost-of-living adjustments affecting dollar limits on benefits and contributions for qualified retirement plans. The IRS also announced the health savings account (HSA)…
Government Shutdown Instructions from OMB
The U.S. Office of Management and Budget (OMB) has now established a page addressing “Agency Contingency Plans” with myriad links to the plans for a variety of agencies. The OMB webpage also links to FAQs that address what is to…
IRS Announces Delay of Implementation of SECURE 2.0 Act’s Roth Catch-up Contribution Provision for Two Years
As signed into law, Section 603 of the SECURE 2.0 Act of 2022 (“SECURE 2.0”) required that effective as of January 1, 2024, participants in 401(k) plans, 403(b) plans, or governmental 457(b) plans, who were age 50 or older and…
SEC Adopts Rules on Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure by Public Companies
The SEC adopted final rules requiring registrants to disclose material cybersecurity incidents they experience and to disclose on an annual basis material information regarding their cybersecurity risk management, strategy, and governance.
Form 8-K Item 1.05 – Material Cybersecurity Incidents
Required…
The U.S. Court of Federal Claims Rules that the Defense Logistics Agency Must Buy from a Mandatory Source of Supply
The AbilityOne Program, established by the Javits-Wagner-O’Day (JWOD) Act in 1971, requires federal government agencies to procure certain products and services from community-based nonprofit agencies that employ individuals who are blind or have significant disabilities.
Facts
In a recent…
Preparing for the End of the COVID-19 Emergency Declarations: Part II. Considerations for COVID-19 Vaccine Coverage
As explained in part I of our Preparing for the End of the COVID-19 Emergency Declaration series, the Public Health Emergency (“PHE”) and National Emergency (“NE”) are coming to a close. While the Biden Administration had initially announced its intent…