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Environment: Alert - January 7, 2009

On December 16, 2008, the U.S. Fish and Wildlife Ser­vice and the National Marine Fisheries Service published a final rule (Section 7 Rule) in the Federal Reg­ister that makes significant changes to certain provisions of the consultation requirements under Sec­tion 7 of the Federal Endangered Species Act (ESA). In one of the final actions of the Bush Administration’s environmental agenda, these actions set the stage for the Obama Administra­tion to wrestle with the scope of the ESA, and in particular, the interplay of climate change and its impact on endangered species.

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Two Holland & Knight Lawyers Among Top Lobbyists In Washington, D.C. by The Hill

WASHINGTON, D.C. – Former Congressman Gerry Sikorski (D-MN), chair of Holland & Knight's Government Section, and Rich Gold, chair of the firm's Public Policy and Regulation Practice Group, have been recognized by The Hill newspaper as two of Washington, D.C.'s top 50 lobbyists.

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Securities & Financial News to Note
Alert - June 30, 2008
 
In this Issue...
SEC Approves Nasdaq Changes to Listing Standards
 
 June 30, 2008
 

On June 17, 2008, the SEC approved a Nasdaq proposed rule change requiring listed companies to meet and maintain a certain amount of "public holders" or "total holders", rather than a certain amount of round lot holders. We discussed the proposed changes in our June 16, 2008 edition of Securities Financial News to Note. Under the amended rules, Nasdaq would generally require 300 public holders for continued listing on the Nasdaq Capital Market, and 400 total holders for continued listing on the Nasdaq Global and Global Select Markets. In the case of preferred stock and secondary classes of common stock, 100 public holders would be required for continued listing on the Nasdaq Capital, Global and Global Select Markets. The definition of “total holders” includes beneficial holders and holders of record. The definition of “public holders” includes beneficial holders and holders of record and excludes any holder who is an executive officer, director, or more than 10% beneficial holder. The amended rules also clarify that the definition of "round lot holders" includes beneficial holders in addition to holders of record.

In approving these rule changes, the SEC found that the new requirements would continue to ensure that securities listed on the Nasdaq Global Select Market, Nasdaq Global Market and Nasdaq Capital Market would have sufficient liquidity in order to promote orderly and fair markets and were consistent with the requirements of the American Stock Exchange and the New York Stock Exchange.

http://sec.gov/rules/sro/nasdaq/2008/34-57981.pdf