Reynolds Holding

NOVEMBER 26, 2023

On December 8, 2023, Columbia Law School will hold its 2023 Conference on Mergers & Acquisitions and Corporate Governance. Millstein Center for Global Markets and Corporate Ownership, the Columbia Law School Center on Corporate Governance, and the law firms of Paul Hastings LLP and Wachtell, Lipton, Rosen & Katz.

Finance 52

Finance Marketability Technology 52

Reynolds Holding

NOVEMBER 28, 2022

Supporters of “crypto inclusion” envision crypto trading flourishing under the imprimatur of financial regulators empowered to police markets for improper activities. So why isn’t the crypto trading market finance? Insurance and derivatives markets help manage risk. Crypto and the Purpose of Finance.

Finance 145

Finance Banking Marketability Treasury 145

Musings on Markets

JULY 13, 2022

It has been my practice for the last two decades to take a detailed look at how risk varies across countries, once at the start of the year and once mid-year. Some of the differences can be traced to the stability and growth prospects of the underlying economies, some to political and legal structures and some to geography.

Risk Premium 81

Risk Premium Risk-free Rate Start-ups Equity 81

Reynolds Holding

JUNE 21, 2023

As part of its declared focus on fostering competition in the labor market, the Federal Trade Commission (FTC) has proposed to ban most noncompetition agreements, or noncompetes, restricting the activities of former employees. If the commission moves forward with a ban of noncompetes, it will almost certainly face legal challenges.

Marketability 45

Marketability Compliance Equity 45

Reynolds Holding

APRIL 3, 2024

Last time [link] was here, I talked about the SEC’s “secret garden”—the maze of staff guidance that serves to define practices across the securities industry in a way that may be inconsistent with a plain reading of the rulebook. [1] The Commission—not the staff or market participants—is to blame.

Start-ups 45

Start-ups Banking Marketability Compliance 45

Reynolds Holding

MAY 2, 2023

Analysis of the distinctive fusion of economic and political power in controlling shareholders and the range of policy domains in which controlled firms are key protagonists have been largely absent from the literature. The chaebol groups and their decades of close interactions with the Korean government are a prominent example.

Comps 59

Comps Capital Structure Technology Marketability 59

ThomsonReuters

JANUARY 28, 2021

In 2020, we saw a flurry of COVID-19-related activity at the SEC designed to help companies navigate the business impact of the pandemic. This blog post highlights certain changes in SEC reporting and disclosure across several key topics, along with practical takeaways. 1) China-based issuer disclosure considerations.

Corporate Finance 72

Corporate Finance Accounting Firms Finance Marketability 72

Reynolds Holding

AUGUST 9, 2023

Before EDGAR, it was possible but costly to access firm filings, such as 10-K, 10-Q, 8-K, or DEF 14A forms, because investors either had to pay a fee to subscribe to the services of commercial data providers or physically visit one of the three SEC’s reference rooms in Chicago, New York, or Washington DC.

Technology 52

Technology Firm Value Finance Equity 52

Appraiser Newsroom

JULY 9, 2023

This paramount event provides an experience unlike other appraisal conferences, offering timely content for all appraisal professionals spanning Business Valuation, Personal Property, Machinery & Equipment, Real Property, Gems & Jewelry as well as Appraisal Review & Management. the BG legislation).

Appraisal 40

Appraisal Fair Market Value Marketability Business Valuation 40

Reynolds Holding

JANUARY 10, 2023

Less expected changes included global and regional political shifts, such as the fallout from the Russian invasion of Ukraine, the continued evolution of governmental policies following the COVID-19 pandemic (such as responses to labor market challenges and reshoring efforts), and growing political tensions throughout the world.

Start-ups 56

Start-ups Marketability Banking Finance 56

Reynolds Holding

MAY 4, 2023

1] The basis for this argument derives from the fiduciary duty of loyalty and its corollary, the “sole interest” or “exclusive benefit” rule, enshrined in both federal and state law, which prohibits fiduciaries from investing for any purpose other than the financial well-being of the beneficiary. 3°C by 2100. [25] 3°C by 2100. [25]

Systematic Risk 117

Systematic Risk Finance Marketability Equity 117

Reynolds Holding

JANUARY 9, 2023

market will be documented in the ISS Securities Class Action Services “Top 100 U.S. million settlement, which was legally approved in late 2022. Shareholders were represented by co-lead counsel firms Robbins Geller Rudman & Dowd and Motley Rice. billion [1] in 2022, a greater than 75% increase from 2021. (A Luckin Coffee.

Banking 81

Banking Private Equity Firm Marketability Compliance 81

Reynolds Holding

OCTOBER 3, 2023

SEC press release │ SEC company order | SEC CFO complaint SEC settles assets recovery and impairment loss disclosure claims In the Matter of Future FinTech Group Inc. Specifically, according to the orders, employees at the firms communicated through various messaging platforms on their personal devices.

Banking 52

Banking Compliance Marketability Finance 52

Reynolds Holding

SEPTEMBER 26, 2023

On August 24, 2023, the Second Circuit affirmed the dismissal of state-law securities claims in Kirschner v. Several banks assigned portions of the term loan made to Millennium Laboratories LLC (“Millennium”) to institutional investor groups, including mutual funds, hedge funds and other institutions.

Banking 40

Banking Marketability Intangible Assets Finance 40

Reynolds Holding

NOVEMBER 3, 2022

My thanks to the Practising Law Institute and the 54 th Annual Institute on Securities Regulation. On May 27, 1933, when he signed the first of the federal securities laws, President Franklin Delano Roosevelt said: “This law and its effective administration are steps in a program to restore some old-fashioned standards of rectitude.” [1].

Marketability 49

Marketability Banking Compliance 49

Appraiser Newsroom

FEBRUARY 16, 2022

Shannon Pratt wrote and published the groundbreaking first edition of Valuing a Business in 1981. She has over 12 years of experience in litigation support and financial valuation services, specializing in forensic/investigative accounting and business valuation. The new VAB6 is expected to be released very soon.

Intangible Assets 52

Intangible Assets Business Valuation Appraisal Corporate Finance 52

Reynolds Holding

JULY 7, 2022

Since the 2007 Supreme Court case [1] ( in re Bulldog Sauce ) in Japan, however, courts have largely relied on the voice of shareholders in reviewing the legality of pills. In the meantime, another acquirer (the “Acquirer”) had purchased the Target’s shares up to 20.24% in the market. 1210 yen less 300 yen of special dividend).

Dividends 45

Dividends Marketability 45

Reynolds Holding

APRIL 23, 2023

Securities Laws Walking into the Rayburn building, I couldn’t help but stop by the statue of Sam Rayburn, the longest serving Speaker of the House. In that role, he worked closely with President Franklin Roosevelt to establish the nation’s first federal securities laws. Thank you for inviting me to testify today.

Treasury 45

Treasury Marketability Finance Technology 45

Cooley M&A

JULY 20, 2023

The mergers & acquisitions market may wax and wane, but one thing in M&A is consistent from year to year: The Delaware courts issue opinions that impact M&A dealmaking. While certainly not exhaustive (we were serious – the courts have been busy!), 5/23) provides a helpful summary of the legal test. Alexy (Del.

Equity 52

Equity Marketability 52

Reynolds Holding

OCTOBER 27, 2022

Section 954, which looks to when an “issuer is required to prepare an accounting restatement due to the material noncompliance of the issuer with any financial reporting requirement under the securities laws,” does not force the inclusion of “little r” restatements. A few examples illustrate the rule’s unnecessary prescriptiveness.

Total Shareholder Return 45

Total Shareholder Return Compliance Corporate Finance Banking 45

Reynolds Holding

NOVEMBER 13, 2023

13] The Council determined that these prerequisites to designation “are not legally required, are not useful or appropriate, and would unduly hamper the Council’s ability to use the statutory designation authority in relevant circumstances.” [14]

Treasury 40

Treasury Finance Marketability Equity 40

Reynolds Holding

JULY 19, 2023

They would require that firms doing business in the state (with some exceptions) make climate disclosures similar to those under the expected SEC regulation and in some important ways would go further. [3] A second bill would require annual reporting of the greenhouse gas (GHG) emissions caused by a covered firm’s operations.

Marketability 75

Marketability 75

Reynolds Holding

APRIL 17, 2024

Critics contend that common ownership weakens market competition and harms consumers, calling for laws and regulations to curtail common ownership. In competitive markets, the introduction of new (substitutable) products can decrease the market shares of existing offerings, potentially making them outdated and leading to their exit.

Marketability 59

Marketability Finance 59

Reynolds Holding

OCTOBER 26, 2022

Practice Points. 5] Companies that do business in countries subject to, or where individuals or entities are subject to, various U.S. 5] Companies that do business in countries subject to, or where individuals or entities are subject to, various U.S. about its remediation and compliance efforts on a periodic basis. [24]

Compliance 49

Compliance Finance Marketability 49

Reynolds Holding

DECEMBER 11, 2023

Striving to better, oft we mar what’s well — William Shakespeare, King Lear (1606) The Delaware Court of Chancery has, for more than a century, honed unparalleled expertise in a unique body of corporate law based on equity – and is thus adaptable enough to address injustice. In 2012, Delaware law began to constrain the role of equity.

Venture Capital Fund 64

Venture Capital Fund Equity Appraisal Marketability 64

Musings on Markets

DECEMBER 10, 2023

Can one person make a difference to the value of a business? Of course, and with small businesses, especially those built around personal services (a doctor or plumber’s practice), it is part of the valuation process, where the key person is valued or at least priced and incorporated into valuation.

Key Person Discount 113

Key Person Discount Start-ups Price to Book Marketability 113

Reynolds Holding

MARCH 1, 2023

On February 22, 2023, the New York Stock Exchange and the Nasdaq Stock Market released their respective versions of a proposed rule that implements the SEC’s clawback rule mandated by Section 954 of the Dodd-Frank Act. Finance, HR, Legal, etc.) 1 Same as the NYSE. Same as the NYSE. What is the amount to be clawed back?

Compliance 45

Compliance Total Shareholder Return Finance Equity 45

Reynolds Holding

NOVEMBER 15, 2022

percent increase over fiscal year 2021; 129 actions against issuers who were allegedly delinquent in making required filings with the SEC; and 169 “follow-on” administrative proceedings seeking to bar or suspend individuals from certain functions in the securities markets based on criminal convictions, civil injunctions, or other orders.

Compliance 45

Compliance Marketability Technology Alpha 45

ThomsonReuters

FEBRUARY 21, 2023

Marketing is essential for any business looking to grow and profit, and it can significantly impact your firm’s ability to grow and drive profitability. To help firms achieve greater growth and profitability , we will explore five ways accounting professionals can think like a marketer.

Marketability 104

Marketability Accounting Firms 104

Reynolds Holding

MAY 4, 2022

They are being driven by an evolving legal and regulatory landscape, market dynamics, and societal expectations. In particular, ESG is increasingly perceived by investors, lenders, employees, local communities, suppliers, and customers as an integral part of a company’s business model and an organic element of value creation.

Compliance 58

Compliance Marketability 58

Reynolds Holding

JANUARY 22, 2024

Levenson Keynote Address before so many distinguished securities law practitioners. Alan’s legacy and work at the Commission staff still resonates on the securities industry and market participants today. It was a practical question that should have had a simple answer. I am honored to be delivering the Alan B.

Start-ups 45

Start-ups Marketability Price to Earnings Finance 45

Reynolds Holding

MAY 16, 2022

An animating principle for me in this role has been to increase public confidence in our markets and in government—to counter the declining trust in our institutions that we are experiencing. [2] Needless to say, that makes it difficult for us to assess whether there’s been a violation of the securities laws. None of this is new.

Marketability 45

Marketability Compliance 45

Reynolds Holding

JUNE 5, 2022

While recent gyrations in cryptoasset markets have focused attention on the future contours of stablecoins, market-making, and impending regulation , another feature of the blockchain landscape is also confronting noteworthy challenges.

Marketability 49

Marketability Technology Banking 49

Reynolds Holding

MARCH 28, 2023

New requirements for market entities On March 15, the SEC proposed a new Rule 10 under the Securities Exchange Act of 1934 (Exchange Act), which would impose new cybersecurity requirements on “Market Entities.” Some of the requirements apply to a subset of Market Entities referred to as “Covered Entities.”

Marketability 45

Marketability Compliance 45

M&A Leadership Council

JUNE 22, 2023

Each advisor firm had its own proprietary due diligence checklist and closing requirements, which the junior associate was instructed to follow without exception. This practice is common. In each situation, one crucial part of the solution was the appointment of a highly experienced due diligence program manager.

Start-ups 52

Start-ups Finance Marketability 52

Reynolds Holding

AUGUST 24, 2022

In 2021 and 2022, as the market continued to focus increasingly on environmental, social, and governance (“ESG”) issues, government financial regulators across many independent agencies strongly indicated that increased enforcement relating to ESG is on the horizon, while private plaintiffs filed novel securities class actions based on ESG issues.

Banking 49

Banking Compliance Marketability Corporate Finance 49

Cooley M&A

SEPTEMBER 25, 2020

The decisions from the court on those preliminary matters, as well as the arguments raised by legal counsel, offer some valuable lessons for sellers considering sale transactions that require debt financing, and may motivate sellers to re-evaluate certain provisions and remedies that have become customary in those transactions.

Debt Financing 40

Debt Financing Finance Equity Private Equity Firm 40