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CALIFORNIA CORPORATE & SECURITIES LAW

Dinner Is Served: Will The Volcker Rule Spur Interest In California’s Capital Access Company Law?

Congress issues an invitation  When Congress enacted the National Securities Markets Improvement Act of 1996 (aka the “NSMIA”), it added a new exemption to the Investment Company Act of 1940.  Under Section 6(a)(5), a company will be exempt if, among other things, It is not engaged in the business of issuing redeemable securities; and Its operations…

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The Impact Of The Dodd-Frank Act On California Financial Institutions

Bill Haraf, Commissioner of Financial Institutions, was one of the many witnesses who testified last week at the California legislature’s joint informational hearing entitled “The Dodd-Frank Wall Street Reform and Consumer Protection Act: Initial Reactions, Initial Steps and Likely Impacts”.  The California Department of Financial Institutions regulates state chartered banks and credit unions (When I…

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