We are pleased to share our annual review of regulatory and legal developments in the consumer financial services industry. With active federal and state legislatures, consumer financial services providers faced a challenging 2023. Courts across the country issued rulings that will have immediate and lasting impacts on the industry. Our team of more than 140 professionals has prepared this concise, yet thorough analysis of the most important issues and trends throughout our industry. We not only examined what happened in 2023, but also what to expect — and how to prepare — for the months ahead.
David represents corporations, the compensation committees of their boards of directors, financial investors and management groups and individual senior executives. His practice includes the design, negotiation, and documentation of stock-based compensation arrangements; deferred compensation arrangements; and senior executive employment, change-in-control; and separation agreements. He is a trusted advisor on executive compensation matters.
A board of directors of a Delaware company may delegate its authority to grant equity awards if certain requirements enumerated in the Delaware General Corporation Law (DGCL) are met. Effective August 1, 2023, updates were made to these DGCL requirements.
Under §§ 157(c) and 152(b) of the DGCL, a board must establish the delegation through…
Recent updates from the Securities and Exchange Commission (SEC) make it likely that companies will need to finalize clawback policies compliant with the Dodd-Frank Act by early August 2023.