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Fed FSR: Hedge Fund Leverage at All-Time High, Life Insurer Risk Elevated

Fed FSR: Hedge Fund Leverage at All-Time High, Life Insurer Risk Elevated

by Touch Stone Publishers | May 11, 2026

The Federal Reserve’s May 2026 Financial Stability Report confirms hedge fund gross notional leverage near record levels, concentrated in the largest funds, while life insurer leverage holds in the top quartile of its historical range, both against a backdrop of...
The SEC Just Abandoned Rule 14a-8: Boards Now Bear Full Liability for Shareholder Proposal Exclusions

The SEC Just Abandoned Rule 14a-8: Boards Now Bear Full Liability for Shareholder Proposal Exclusions

by Touch Stone Publishers | May 9, 2026

In November 2025, the Securities and Exchange Commission made a decision that fundamentally reshapes how corporate boards govern shareholder proposals. The Division of Corporation Finance suspended its historic review of shareholder proposal exclusion decisions,...
The Section 232 Pharmaceutical Tariff Decision: Board Governance Under Pressure

The Section 232 Pharmaceutical Tariff Decision: Board Governance Under Pressure

by Touch Stone Publishers | Apr 24, 2026

On April 2, 2026, President Trump issued a Proclamation invoking Section 232 of the Trade Expansion Act of 1962 to impose a 100 percent ad valorem tariff on patented pharmaceutical imports and active pharmaceutical ingredients. The tariff becomes effective July 31,...
The Section 232 Pharmaceutical Tariff Proclamation: Board Governance and Supply Chain Strategy in an Era of Tariff-Driven Restructuring

The Section 232 Pharmaceutical Tariff Proclamation: Board Governance and Supply Chain Strategy in an Era of Tariff-Driven Restructuring

by Touch Stone Publishers | Apr 23, 2026

On April 2, 2026, President Trump issued a proclamation imposing tariffs up to 100 percent on patented pharmaceuticals and active pharmaceutical ingredients (APIs) under Section 232 of the Trade Expansion Act of 1962. The tariffs take effect July 31, 2026 (for major...
The 100% Pharmaceutical Tariff: Three Paths, One Board Decision, 100 Days

The 100% Pharmaceutical Tariff: Three Paths, One Board Decision, 100 Days

by Touch Stone Publishers | Apr 21, 2026

President Trump’s April 2, 2026, Proclamation under Section 232 of the Trade Expansion Act of 1962 establishes a 100 percent ad valorem tariff on patented pharmaceutical products and their associated active pharmaceutical ingredients (APIs) imported into the...
The 100% Pharmaceutical Tariff: Three Paths, One Board Decision, 100 Days

The 100% Pharmaceutical Tariff: Three Paths, One Board Decision, 100 Days

by Touch Stone Publishers | Apr 21, 2026

President Trump’s April 2, 2026, Proclamation under Section 232 of the Trade Expansion Act of 1962 establishes a 100 percent ad valorem tariff on patented pharmaceutical products and their associated active pharmaceutical ingredients (APIs) imported into the...
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