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WHF Brown Bag Lunch: Discussion of Securities Law Developments especially Stock buyback issues
Tuesday, July 13, 2021, 12:00 PM - 1:00 PM EDT
Category: Events

WHF Brown Bag Lunch: Discussion of Securities Law Developments especially Stock buyback issues

WHF Brown Bags Lunches are open to members only, at no charge. Not a member? Call WHF at 703-683-4742 and we will be happy to assist in signing you up for membership.

This event is off the record.

The Securities and Exchange Commission (“SEC”) has a safe harbor rule which permits the buy back/repurchase of issuer’s stock.  There are differing views about repealing the SEC safe harbor rule on stock repurchases in order to pursue policy initiatives pertaining to pay disparity and other public policy goals.  There are strongly held countervailing views about creating incentives for companies to use private capital market mechanisms instead of the public securities markets if the public securities framework imposes restrictions that discourage new entrants into the public securities markets.

Our speaker, Stuart Kaswell, is a nationally recognized expert on the functioning of the U.S. securities markets.  His public policy expertise concerning disclosure in the public securities markets is the result of his many years of private law practice and advocacy in connection with industry trade associations related to capital markets. As with many things in the law and public policy, a seemingly focused approach on one potential change in the capital markets structure can have much broader ramifications for how the capital structure of a company is organized and modified over time depending on the governing regulatory requirements. And, it is open to debate whether the proposed repeal of the stock buyback rule would address the pay disparity concerns raised in connection with company repurchases.

Stuart Kaswell is also likely to address some of the transition issues facing the SEC as new Chairman Gary Gensler takes over the agency and indicate how prior policy debates over stock buyback issues might be prioritized in the new Administration. 

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Moderated by: Marti Tirinnanzi, President of Financial Standards

Marti Tirinnanzi is an expert in financial risk management and hedging strategies using derivatives and swaps contracts. She is skilled at helping market-users understand and navigate financial regulations related to Title VII of the Dodd-Frank Act. In financial reporting policy circles and in Washington, DC, she is credited for her work for better transparency for derivatives pricing and financial reporting. She serves on the Board of Director of ICE Mortgage Services, which is owned by Intercontinental Exchange, the parent company of the New York Stock Exchange. She also serves as a professor on  derivatives courses at Catholic University of America in Washington, DC.





Speaker Bio

Stuart Kaswell is the former General Counsel of the Managed Funds Association, former partner at Dechert and former General Counsel of the Securities Industry Association.  Mr. Kaswell also worked at the SEC as a branch chief, as well as on the House Energy and Commerce Committee when it had jurisdiction over securities law issues. Mr. Kaswell is a graduate of the Washington College of Law at American University and a graduate in political science from Vassar College where he earned his bachelor’s degree.  Mr. Kaswell is a very active member of the American Bar Association Business Law Section and has written extensively on federal securities law issues.  He is a nationally recognized speaker, too.