Block.

July 15, 2005 | Law.com

The New York Stock Exchange must turn over documents related to its proposed acquisition of Archipelago Holdings Inc. to three seat holders pressing for details on how the exchange valued the $3 billion deal, a state court ruled Wednesday. New York State Supreme Court Justice Charles Ramos granted the records request of seat holders William Higgins, Robert Dill and Michael Quinn, but also issued a temporary stay pending a possible appeal. Ramos gave the NYSE three days to file an appeal.

By Donna Block

3 minute read

May 09, 2005 | Law.com

The fate of the nation's biggest utility deal hangs on whether or not Congress repeals a 1935 law that limits mergers and acquisitions in the utility sector. Administrative Law Judge Robert Mahoney ruled last week that the 2000 merger of Ohio-based American Electric Power Co. and Central and South West Corp. of Texas was illegal under a provision of the Public Utilities Holding Company Act. "If PUHCA is repealed, this just goes away and the deal stands," says one energy lawyer.

By Donna Block

4 minute read

May 23, 2005 | Law.com

The Senate Energy and Natural Resources Committee approved the electricity title of its comprehensive energy bill Thursday, but reserved judgment on whether the section should include repeal of the Public Utility Holding Company Act, a 1935 law that restricts mergers and acquisitions involving power producers. Committee Chairman Pete Domenici, R-N.M., said that he is not giving up on getting repeal of PUHCA into the bill before the committee finishes its work this week.

By Donna Block

4 minute read

August 08, 2005 | Law.com

The Public Utility Holding Company Act of 1935 will be laid to rest today when President Bush signs legislation eliminating 70-year-old restrictions on utility mergers and acquisitions. Leaving behind a utility industry ripe for acquisitions and sweeping consolidation, PUHCA was finally done in by the Energy Policy Act of 2005, a far-reaching piece of energy legislation of which PUHCA's repeal was a major component.

By Donna Block

6 minute read

March 27, 2006 | The Recorder

Recent court cases address loan prepayment fees.

By Kenneth M. Block and Jeffrey B. Steiner

8 minute read

March 22, 2006 | Law.com

President Bush's newest selections to join the country's federal energy regulator appear designed to appeal to the agency's key, often opposing, constituencies. On one side is Washington lobbyist Phillip D. Moeller, who gets high marks from the power companies he has served for years. On the other is Jon Wellinghoff, a former consumer advocate and staff counsel for the Nevada Public Utilities Commission, who is well regarded by public interest watchdogs.

By Donna Block

4 minute read

July 13, 2006 | Law.com

On Tuesday, the Securities and Exchange Commission announced that it is moving ahead with its promised review of the Sarbanes-Oxley Act. The SEC issued a "concept release" that outlines its forthcoming guidance for corporate managers on assessing a firm's internal controls over financial reporting. The agency is also seeking feedback during the next 60 days on ideas to guide public companies in compliance. Critics say SOX's strict compliance measures are giving overseas financial markets an advantage.

By Donna Block

4 minute read

December 26, 2006 | Law.com

U.S. District Court for the District of Columbia Judge James Robertson is presiding over a brash legal attempt to eliminate the 2002 Sarbanes-Oxley corporate accountability law, and he pledged last week to rule "as soon as I can." Robertson heard arguments Dec. 21 on the constitutionality of the Public Company Accounting Oversight Board. Although operation of the board is a narrow portion of the law, SOX has no severability clause, so if the PCAOB provisions were struck, SOX as a whole could fall.

By Donna Block

3 minute read

November 30, 2006 | Law.com

In a move supported by the SEC, NYSE Group and the NASD said Tuesday that they have signed a letter of intent to merge their regulation operations to reduce costs and improve market policing. The new SRO will perform member review, enforcement and dispute resolution functions as well as market regulation for Nasdaq. NYSE Regulation said it will continue to oversee NYSE trading activity. The NASD also plans to make a one-time $35,000 payment per member and to gradually reduce annual dues.

By Donna Block

4 minute read

March 30, 2006 | Law.com

Public outrage over a planned 72 percent increase in electricity rates has prompted Maryland's state lawmakers to pass two unprecedented pieces of legislation this week giving them the power to derail the $11.4 billion proposed merger between Constellation Energy Group and Florida's FPL Group and overhaul the state's Public Service Commission. If the bill becomes law, the utility owners have vowed to fight Maryland in court, alleging the legislature has no jurisdiction to interfere with the merger.

By Donna Block

4 minute read