General Counsel Series Addresses Latest Developments in Corporate Governance

On February 24, 2010, Wilson Sonsini Goodrich & Rosati hosted the latest presentation in its General Counsel Series. Addressing an audience of approximately 100 general counsels and legal and financial professionals, a panel of the firm's experts discussed the impact of the current regulatory landscape on corporate governance and the implications for directors and in-house counsel. The event took place at the Rosewood Sand Hill in Menlo Park and was videoconferenced to the firm's national offices.

The event featured a welcome address from Chairman Larry Sonsini, followed a panel discussion moderated by Chief Executive Officer Steve Bochner. Panelists included partners John Aguirre, David Berger, and Katharine Martin, who examined recent changes in several key governance areas, including proxy disclosure, director election rules, executive compensation, and other related matters. They engaged in a wide-ranging discussion about the latest developments in regulatory reform, including the Securities and Exchange Commission's (SEC's) new Proxy Disclosure Enhancement rules; the SEC's recent interpretations regarding non-GAAP disclosures; the current state of the SEC's proxy access rules; and the status of proposed federal legislation related to compensation and governance issues, including say on pay and proxy access.

The speakers represent a collection of some of the top corporate governance experts in the country. In particular, Larry, who is internationally recognized for his expertise in the areas of corporate law, corporate governance, and securities, serves as chairman of the New York Stock Exchange's recently formed Commission on Corporate Governance, and a member of the NYSE's Proxy Working Group. Steve was appointed to the Securities and Exchange Commission's Advisory Committee on Smaller Public Companies in 2005, which was charged with evaluating the securities regulatory system relating to governance, disclosure, financial reporting, internal controls, and capital formation for smaller public companies. He also served as chairman of the Governance and Disclosure Subcommittee of the SEC Advisory Committee.