January 12, 2022
We are pleased to announce that Luse Gorman, PC has again received the No. 1 National Ranking as legal counsel for mutual-to-stock conversions and mutual holding company transactions, as reported by S&P Global Market Intelligence, for transactions completed in 2021. Luse Gorman was the legal advisor on more mutual-to-stock conversion and mutual holding company stock offerings in 2021 than all other law firms combined. Additionally, Luse Gorman has been the No. 1 ranked law firm for mutual-to-stock conversions and mutual holding company stock offerings each year for the past 20 years.
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January 5, 2022
On December 29, 2021, First Financial Credit Union, Skokie, Illinois completed a private placement of $2.0 million of its 4.25% fixed rate subordinated notes due January 1, 2032. The subordinated notes are intended to qualify as secondary capital under NCUA rules.
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December 17, 2021
On December 17, 2020, the NCUA adopted a final rule expanding access to subordinated debt and modifying the NCUA’s existing secondary capital rules for low-income designated credit unions.
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December 9, 2021
To our clients and friends:
The SEC has adopted new rules relating to the required use of a universal proxy card in a director election contest. The new rules go into effect with respect to any shareholder meeting held after August 31, 2022.
Our Alert regarding the new rules is available here.
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August 17, 2021
To our clients and friends:
Nasdaq's proposal to adopt new listing rules related to board diversity requirements and disclosure has been approved by the SEC.
Our Alert regarding the new rules is available here.
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