Fri.Sep 09, 2022

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Speech by Chair Gensler on Kennedy and Crypto

Harvard Corporate Governance

Posted by Gary Gensler, U.S. Securities and Exchange Commission, on Friday, September 9, 2022 Editor's Note: Gary Gensler is Chair of the U.S. Securities and Exchange Commission. This post is based on his recent public statement. The views expressed in this post are those of Chair Gensler, and do not necessarily reflect those of the Securities and Exchange Commission or the Staff.

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The two-wheeled commute: Micromobility and your future

Mckinsey and Company

Scooter skeptic? Think again. Micromobility is gaining favor with consumers worldwide—and may fast become a mainstay of urban transportation.

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Weekly Roundup: September 2-8, 2022

Harvard Corporate Governance

Posted by the Harvard Law School Forum on Corporate Governance, on Friday, September 9, 2022 Editor's Note: This roundup contains a collection of the posts published on the Forum during the week of September 2-8, 2022. Dealing with Activist Hedge Funds and Other Activist Investors. Posted by Martin Lipton, Wachtell, Lipton, Rosen & Katz, on Friday, September 2, 2022.

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iPhone Makers' League Could Get A New Entrant In Indian Conglomerate

Benzinga

Indian conglomerate Tata Group , which produces everything from salt to software, is reportedly in talks with Taiwan’s Wistron Corporation to establish an electronics manufacturing joint venture in India with the goal of assembling iPhones there. What Happened: The discussions with Wistron Corp are intended at making Tata a force in technology manufacturing, and the group wants to leverage the Taiwanese company’s expertise in product development, supply chain.

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How to Leverage Intent Data for Better Outcomes

Speaker: Susan Spencer, Principal of Spencer Communications

Intent signal data can go a long way toward shortening sales cycles and closing more deals. The challenge is deciding which is the best type of intent data to help your company meet its sales and marketing goals. In this webinar, Susan Spencer, fractional CMO and principal of Spencer Communications, will unpack the differences between contact-level and company-level intent signals.

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Are accountants boring? Three ways to show clients you’re not.

ThomsonReuters

We all know accountants have a certain reputation for being methodical, organized, risk-averse, and some might even say, boring. But for those accountants who’ve answered the call to provide advisory services and being that valued business partner their clients need, the accounting profession can be one exciting ride. How are today’s forward-looking accountants are breaking down stereotypes and building successful careers?

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Why Hire an Eminent Domain Attorney?

Appraisers Blog

Taking private property for public use is one of the most powerful government actions under the constitution. The exercise of this power is commonly known as condemnation. The power itself is referred to as the eminent domain power. Eminent domain can occur at the federal, state, and local levels of government. If you are notified that your home, land, or property will be condemned for a public use, you will likely have many questions that need answers.

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Judges Who Use Social Media Must Know Their Ethical Limits

Law 360 M&A

While the judiciary is permitted to use electronic social media, judges and judicial candidates should protect themselves from accusations of ethics violations by studying the growing body of ethics opinions and disciplinary cases centering on who judges connect with and how they behave online, says Justice Daniel Crothers at the North Dakota Supreme Court.

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The gathering storm in US healthcare: How leaders can respond and thrive

Mckinsey and Company

Forces are converging to challenge healthcare affordability and access, and industry economics. Opportunities abound for leaders to drive rapid, at-scale innovation to usher in a brighter future.

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UK Litigation Roundup: Here's What You Missed In London

Law 360 M&A

The past week in London has seen Pfizer and BioNTech seeking a declaration that their COVID-19 vaccine doesn't infringe CureVac's European patents, Zurich Insurance suing those caught up in a superyacht fire in a limitation of liability claim, and British vodka brand Au Vodka suing its rival in a trademark claim.

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What every insurance leader should know about cloud

Mckinsey and Company

Successful cloud migrations depend on knowing where the value for insurance lies in cloud and on business and IT working together.

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Statement of Cash Flows vs. Cash Flow Statement

Speaker: Wayne Spivak - President and Chief Financial Officer of SBA * Consulting LTD, Industry Writer, and Public Speaker

The old adages that "cash is king" and "you can’t spend profits" still hold true today. But however well-known these sayings might be, it requires a change in mindset to properly implement a cash flow management system that predicts your business's runaway as accurately as possible. Key to this new mindset is understanding the difference between the Statement of Cash Flows, a historical look at the source and uses of cash, and the Cash Flow Statement, which uses transaction history and forward-l

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Elon Musk Says Twitter Whistleblower Deal Also Tanks Merger

Law 360 M&A

Elon Musk said Friday that a $7.8 million payment Twitter Inc. made to a whistleblower who flagged purported security concerns at the social media company is yet another reason Musk should be allowed to terminate his $44 billion agreement to acquire Twitter.

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Proactive news headlines, including Forte Minerals, Zinc8 Energy Solutions, Rockstar Games and Doubleview Gold

Benzinga

New York , Sept. 09, 2022 (GLOBE NEWSWIRE) -- Proactive, provider of real-time news and video interviews on growth companies listed in the US and Canada, has covered the following companies: Forte Minerals taps Jasmine Lau for the CFO role click here. Stifel says Tamarack assay results support strong resource growth expectations at Talon Metals click here.

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Why cyber risk is still a main responsibility for board members

LaPorte

(authored by RSM US LLP) Boards can address cyber risk by considering data security inside and outside the organization and by performing exercises to prepare for a breach. The post Why cyber risk is still a main responsibility for board members first appeared on LaPorte.

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Amazon's Constructive Step To Beef Up Warehouse Safety, Acquires Cloostermans

Benzinga

Amazon.com, Inc (NASDAQ: AMZN ) scooped Cloostermans, a Belgian company that makes technology used in warehouses. The financial terms of the transaction remain undisclosed. Amazon began working with Cloostermans in 2019, using its technology to help move and stack heavy palettes and goods and package products together for delivery. Cloostermans will become part of Amazon Robotics, Amazon's division focused on automating aspects of its warehouse operations, CNBC reports.

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Mastering Intent Data: Understanding its Importance & Best Practices

Speaker: Joe Apfelbaum, CEO of Ajax Union

In this webinar, Joe Apfelbaum, CEO of Ajax Union and business strategist, will take you through the ABCs of intent data. You'll learn how to effectively use it to drive business results, with practical tips on how to leverage both company and contact intent data to maximize your marketing efforts. Whether you're a seasoned marketer or just getting started, this webinar is a must-attend for anyone looking to stay ahead in the ever-evolving world of digital marketing.

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Ex-TIAA Bank Counsel Joins Balch & Bingham In Fla.

Law 360 M&A

Corporate law firm Balch & Bingham LLP added a new partner in its Jacksonville, Florida, office with plenty of general counsel experience, serving in-house at both the American Challenger Development Corp. and TIAA Bank.

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Themes from Q2 2022 Earnings Calls

Auto Dealer Valuation Insights

In our Themes from Q1 Earnings Calls, Part 2: Oilfield Service Companies blog post, prevalent themes included OFS companies targeting short-term projects, as well as shifting towards a strategy focused on margin expansion. Executives also noted that private operators have an increasing level of importance to public companies due to increased activity.

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MVP: Simpson Thacher's Anthony Vernace

Law 360 M&A

Simpson Thacher & Bartlett LLP partner Anthony Vernace has helped close major acquisitions this year while working in the firm's corporate team, bringing home deals like Microsoft's $68 billion acquisition of Activision Blizzard and its $19 billion purchase of Nuance Communications last April, earning him a spot as one of Law360's 2022 Mergers & Acquisitions MVPs.

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Mercer and Harms Speaking at 2022 ASA International Conference

Auto Dealer Valuation Insights

Christopher Mercer, FASA, CFA, ABAR and Travis W. Harms, CFA, CPA/ABV are speakers at the upcoming 2022 ASA International Conference of the American Society of Appraisers in Tampa, Florida on September 11th and 12th, respectively. Per the conference website, “Celebrating its 85th year, the 2022 ASA International Conference provides an experience unlike other appraisal conferences.

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EU Clears Willkie-Led €2.3B Sale Of Chemicals Maker Perstorp

Law 360 M&A

The European Union's competition watchdog on Friday gave a green light to Petronas Chemicals Group Bhd.'s acquisition of Sweden-based chemicals company Perstorp Holding AG for €2.3 billion ($2.3 billion).

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How Does Your RIA’s Client Base Affect Your Firm’s Value, and What Can You Do to Improve It?

Auto Dealer Valuation Insights

We’re often asked by clients what the range of multiples for RIAs is in the current market. At any given time, the range can be quite wide between the least attractive firms and the most attractive firms. The factors that affect where a firm falls within that range include the firm’s margin, scale, growth rate of new client assets, effective realized fees, personnel, geographic market.

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Australia OKs $1.7B Software Co. Tie-Up, With Conditions

Law 360 M&A

After previously raising concerns over anti-competitiveness, the Australian Competition and Consumer Commission said Thursday that it would not oppose software company Dye & Durham Ltd.'s proposed AU$2.47 billion ($1.7 billion) acquisition of financial data services company Link Administration Holdings Ltd. on the condition that D&D sells its existing Australian businesses to an ACCC-approved business.

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Third-Party Risk Management: What You Don't Know Today CAN Hurt You

Audit Board

Vendor vulnerabilities continue to plague many industries and teams are struggling to manage the associated risk volatility. A strong third-party risk management (TPRM) program can help alleviate the impact of related risks. The building blocks of a successful program include a sturdy workflow for vendor onboarding along with ongoing monitoring of each vendor.

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Benchmark International Successfully Facilitated the Transaction Between A to Z Insurance and Acrisure

Benchmark Report

Benchmark International represented A to Z Insurance in the company’s sale to Acrisure. A to Z Insurance, headquartered in Corpus Christi, Texas, is an independent insurance agency specializing in commercial trucking policies. The agency also offers a variety of personal and commercial insurance policies and represents many of the nation’s leading insurance providers.

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How to Sell Business Equity

Sun Acquisitions

Should you sell business goodwill? If it makes financial sense and you understand the dilution aspect of selling equity and the potential interference from investors, then yes, go ahead. It’s a common enough practice. People sell business ownership for a variety of reasons: Needing capital to actually start the company; Swapping equity for additional capital to grow the business; Sourcing money to pay down existing liabilities and debts; Raising venture capital to expand into new markets and; De

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Self-Employed? Build a Nest Egg With a Solo 401(K) Plan

Machen McChesney

Do you own a successful small business with no employees and want to set up a retirement plan? Or do you want to upgrade from a SIMPLE IRA or Simplified Employee Pension (SEP) plan? Consider a solo 401(k) if you have a healthy self-employment income and want to contribute substantial amounts to a retirement nest egg.

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You don’t have to be a superhero to be an entrepreneur

Vested

There are a lot of myths surrounding entrepreneurship, some of them more outlandish than others. Entrepreneurship gets a lot of attention in the media, with people often seeing the life of an entrepreneur as glamorous, exciting and fun.

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Claims 2030: Embracing the future

Mckinsey and Company

As technological change accelerates and customer preferences diverge, the future of claims organizations centers on four key trends.

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SEC Chair Gensler Speaks on Crypto and the Securities Laws

Reynolds Holding

Joseph Kennedy, the first Chairman of the SEC, had a saying: “No honest business need fear the SEC.” [1]. In the depths of the Great Depression, Congress and President Franklin Delano Roosevelt (known for a slightly more famous quotation about “fear”) enacted the first federal securities laws. The Securities Act of 1933 was about companies raising money from the public.

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More talk about cybersecurity risk

Norman Marks

People continue to talk about cybersecurity and risk, but not always in a way that I think makes a lot of sense. Here’s a sample. The IIA The IIA finds a disparity between the level of risk internal auditors assign to cyber and the percentage of their audit plan allocated to addressing it. Just this […].

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How Enforcement Affects Disclosure

Reynolds Holding

The ability of disclosure rules to provide investors, consumers, and the public with useful information depends largely on how well the rules are enforced. Strong enforcement helps ensure the provision of information and increases companies’ desire for mandatory disclosure. In a new article, we offer a model of mandatory disclosure regulation and enforcement and analyze four essential questions the model raises.

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Pfizer's $5.4B Deal To Acquire Drugmaker Faces Investor Suit

Law 360 M&A

Global Blood Therapeutics Inc. investors have challenged Pfizer's $5.4 billion plan to acquire the sickle cell-drug company, claiming that GBT's top brass made incomplete and misleading disclosures in an attempt to convince shareholders to sign off on the proposed deal.

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SWITCH Power acquires operating rooftop solar project in Ontario

Benzinga

CALGARY, Alberta, Sept. 09, 2022 (GLOBE NEWSWIRE) -- SWITCH Power Corporation ("SWITCH" or "the Company") is pleased to announce that its wholly owned subsidiary, SWITCH Power Ontario Solar Operating Corporation ("SPOSOC"), has entered into an asset purchase agreement with a vendor to acquire an operational rooftop solar project ("the Project") in Vaughan, Ontario.

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Civil Rights Orgs Seek FTC Challenge To Amazon-iRobot Deal

Law 360 M&A

More than two-dozen civil rights groups want the U.S. Federal Trade Commission to challenge Amazon's acquisition of iRobot, warning Friday that the deal will give the tech giant "big-brother-like" access to the most "extremely intimate" acts that take place in people's homes.

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Balincan USA, Inc. and Tekumo LLC. complete Merger, Financing and Recapitalization

Benzinga

NEW YORK, Sept. 09, 2022 (GLOBE NEWSWIRE) -- Balincan USA Inc. ("Balincan" or the "Company") announces that it has acquired Tekumo LLC, a Colorado limited liability corporation ("Tekumo"), pursuant to an acquisition completed on June 14, 2022, and closed $797,500 of new financing. Further, all current debt and outstanding convertible and preferred securities were eliminated in exchange for Company common equity.

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