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SEC Hot Topics Institute
Houston, TX
September 17, 2009

Join us for the annual RR Donnelley SEC Hot Topics Institute. Renowned experts will examine the latest developments and trends, provide insight into what lies ahead and impart practical, actionable guidance on the crucial issues facing today's corporate and securities law practitioners and finance professionals. The program is CLE / CPE-accredited and features SEC officials, corporate counsels, governance officers, chief financial officers, accounting professionals and law firm partners.

Click here to view the program agenda.
Click here for CLE and CPE information.


Faculty
Co-Chairs:

T. Mark Kelly, Partner, Vinson & Elkins LLP
Christine B. LaFollette, Partner in Charge, Houston Office, Akin Gump Strauss Hauer & Feld LLP
Kelly Brunetti Rose, Partner, Baker Botts LLP

From the SEC:

David Peavler, Assistant Director, Enforcement, U.S. Securities and Exchange Commission

Speakers:

Frederick H. Alexander, Partner, Morris, Nichols, Arsht & Tunnell LLP
Janet F. Clark, Executive Vice President and Chief Financial Officer, Marathon Oil Corporation
John Goodgame, Partner, Akin Gump Strauss Hauer & Feld LLP
Thomas A. Hagemann, Partner, Gardere Wynne Sewell LLP
Delores (Dee) Hinkle, Director, Corporate Reserves, Marathon Oil Corporation
Janet Langford Kelly, Senior Vice President Legal, General Counsel and Corporate Secretary,
    ConocoPhillips Company
Mark A. McCollum, Executive Vice President and Chief Financial Officer, Halliburton Company
Adam C. Peakes, Managing Director, Goldman, Sachs & Co. Incorporated
James M. Prince, Partner, Vinson & Elkins LLP
Don P. Roesle, Chairman and Chief Executive Officer, Ryder Scott Company, L.P.
John Sullivan, Former Partner and Professional Practice Director, Deloitte & Touche LLP
Darrell W. Taylor, Partner, Baker Botts LLP
David Turner, Former Director, Financial Advisory Services, Deloitte & Touche LLP

Click here to view our faculty biographies.


Program Agenda:
A comprehensive update on the latest trends and practices:

8:30 am - 8:35 am Introduction T. Mark Kelly
Christine B. LaFollette
Kelly Brunetti Rose
8:35 am - 10:05 am I. SEC Enforcement Issues

  1. SEC enforcement, 2008-2009: Change – an inside view
  2. SEC enforcement, 2008-2009: Critiques and cases – an outside view
  3. The one that (almost) got away:  Madoff and lessons learned
  4. What lies ahead and may be coming next
Click here to view session handout
Christine B. LaFollette
Thomas A. Hagemann
David Peavler
David Turner
10:05 am - 10:15 am Coffee Break  
10:15 am - 11:45 am II. Board of Directors' Fiduciary Obligations in M&A and Recent Cases

Nested Lists

  1. Themes and trends in the M&A markets
  2. Lyondell Chemical Company v Ryan
    1. Factual Background
    2. Issues involved in Chancery Court proceeding
    3. Delaware Supreme Court decision
    4. Subsequent Delaware cases
    5. Practical Take-aways

  3. Hexion Chemical Company v Huntsman corp
    1. Key Issues in the Decision
    2. Chancery Court's Analysis
    3. Some Lessons Learned

  4. Unconventional Control Issues
    1. In re Loral Space & Commc'ns Inc.
      1. 36% stockholder
      2. Equity raise
      3. Fairness or Revlon?
      4. Unconventional remedy

    2. Wayne County Employees' Retirement Sys. v. Corti
      1. Asset acquisition
      2. New majority stockholder
      3. Adequate market test?
      4. Management involvement in discussions
      5. Lyondell applied

    3. Louisiana Mun. Police Employees' Retirement Sys. v. Fertitta
      1. 39% stockholder
      2. Going private
      3. Open market purchases
      4. Failed transaction
      5. Lyondell not applied

    4. In re Trados Inc. S'holder Litig.
      1. Private company
      2. Third party acquisition
      3. Preferred Directors
      4. Common underwater
      5. Standard of review
T. Mark Kelly
Frederick H. Alexander
Jeffery Burton Floyd
Adam Peakes
Darrell W. Taylor
11:45 am - 12:30 pm Luncheon  
12:30 pm - 1:15 pm III. Accounting Issues

  1. Recent rule making and other activity
  2. Update of the staff review process
  3. Most frequent staff review comments that you want to know
  4. What's working (or not) on the standard setters' agenda:
    1. Loss contingencies
    2. Financial statement presentation
    3. IFRS
  5. Other sensitive topics: Going concern, allowances, reserves, goodwill
Christine B. LaFollette
Mark A. McCollum
John Sullivan
1:15 pm - 1:30 pm Coffee Break  
1:30 pm - 2:30 pm IV. The SEC's New Oil and Gas Reserves Reporting Rules

  1. Overview
  2. Interpretive questions
    1. 5-year PUDs
    2. Pricing and definitional issues
    3. Disclosure of resources

  3. Coordination with FASB
Kelly Brunetti Rose
Delores Hinkle
James M. Prince
Don P. Roesle
2:30 pm - 3:30 pm V. Proxy Season Review

  1. What happened in the 2009 proxy season
  2. Review of the SEC's proposed changes to proxy rules
  3. Highlights of other developments, including broker discretionary voting and delaware law changes
  4. Considerations for 2010 proxy season, including executive compensation
Christine B. LaFollette
Janet F. Clark
John Goodgame
Janet Langford Kelly


CLE and CPE Information:
CLE information for attendees
CLE information for faculty
CPE information
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