Publication
Corporate Communicator – Summer 2011 Issue
In this issue we present a summary of the Securities and Exchange Commission's (the "SEC") proposed rules to enact the Dodd-Frank Act's heightened independence requirements for compensation committee members and compensation advisers. The SEC's rules, proposed in March 2011, are expected to be finalized this summer with implementation by the national securities exchanges between 90 and 365 days thereafter.
We are also including an article summarizing the laws, rules and regulations that companies should consider when engaging in sweepstakes and promotional giveaways. Sweepstakes, drawings, prizes, raffles and giveaways have long been popular promotional tools. These promotions continue to be used by a wide variety of companies and their use has expanded significantly with the explosion of the Internet and social media. Structured properly, these promotions can be efficient and effective advertising tools. Companies need to be careful though to comply with various federal and state regulations governing sweepstakes and similar promotions because the line between a permitted sweepstakes and a prohibited gambling activity can be "fuzzy."
About Snell & Wilmer
Founded in 1938, Snell & Wilmer is a full-service business law firm with more than 500 attorneys practicing in 16 locations throughout the United States and in Mexico, including Los Angeles, Orange County and San Diego, California; Phoenix and Tucson, Arizona; Denver, Colorado; Washington, D.C.; Boise, Idaho; Las Vegas and Reno, Nevada; Albuquerque, New Mexico; Portland, Oregon; Dallas, Texas; Salt Lake City, Utah; Seattle, Washington; and Los Cabos, Mexico. The firm represents clients ranging from large, publicly traded corporations to small businesses, individuals and entrepreneurs. For more information, visit swlaw.com.
