| Ultra Vires Acts |
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| In most states, the duty of obedience is recognized as one of the three fiduciary duties a director owes to the corporation. One component of the duty of obedience is that a director is prohibited from committing an ultra vires act. Ultra vires, translated from the Latin, means "beyond powers." An ultra vires act is beyond the scope of the powers bestowed on the corporation (and the director) by the corporate charter or bylaws. Thus, a director commits an ultra vires act when he acts without or beyond the authority vested in him by the corporation. More... |
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| Insider Trading |
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| (Bounties for Persons Reporting Insider Trading) More... |
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| Exchange-Traded Funds |
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| Exchange-traded funds are open-ended registered investment companies regulated by the Securities and Exchange Commission under the Investment Company Act of 1940. The Securities and Exchange Commission has exempted exchange-traded funds from regulatory requirements in order to allow secondary trading on national exchanges of shares in exchange-traded funds. More... |
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| Record Retention Requirements for Securities Brokers and Dealers |
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| Brokers and dealers engaging in securities transactions are required to maintain various records for varying periods under Securities and Exchange Commission rules. For example, "blotters" reflecting all purchases and sales of securities must be retained for six years. Copies of sale or purchase confirmations must be kept in an easily accessible place for two years and then for an additional year thereafter. More... |
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| Protection of School Asbestos Hazard Whistleblowers |
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| (Protection of School Asbestos Hazard Whistleblowers) More... |
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