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Read need-to-know updates, commentary, and analysis on General Business issues written by leading professionals.

Securities Litigation Alert: District Court Says Indirect Purchasers of Shares Can Bring Fraud Claims Against Private Company and...

by Fenwick & West LLP on

In a case with important implications for late-stage private companies, a federal magistrate judge ruled last week that investors in funds holding private company securities can bring fraud claims against the issuer of the...more

Colorado Proposes Cybersecurity Rules for Investment Advisers, Broker-Dealers

by Ballard Spahr LLP on

The Colorado Division of Securities recently issued proposed rules directed at establishing cybersecurity requirements for broker-dealers and investment advisers. The proposed rules were issued only a month after New York...more

Shareholder Seeks to Block Amendment to Intel Stock Plan

A shareholder of Intel Corporation has filed a complaint in the United States District Court for the Southern District of New York. The shareholder seeks a preliminary and permanent injunction and any other appropriate relief...more

Colorado Proposes New Cybersecurity Rules For Financial Advisers

by Dentons on

Earlier this month, the Colorado Division of Securities released a set of proposed changes to the Colorado securities laws that would, if adopted, impose strict cybersecurity requirements on investment advisers and...more

Planning ahead: the FCA's 2017/18 Business Plan priorities and strategic framework

by Hogan Lovells on

The FCA's latest Business Plan demonstrates a commitment to pushing forward on both existing and new initiatives across sectors, focused on maintaining fair consumer outcomes in the rapidly changing UK financial services...more

Meet HAL, Your New Robo-Adviser: SEC Regulatory Guidance For Robo-Advisers

by Polsinelli on

“Hello, Dave. You're looking well today.” In the iconic science fiction movie, 2001: A Space Odyssey, the HAL 9000 computer courteously greeted his astronaut human companion Dave Bowman. HAL was a Heuristically...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Klaus Kleinfeld is out as CEO of Alcoa-subsidiary Arconic. Kleinfeld’s two-year tenure was marked by problems, and Kleinfeld did himself no favor with an un-Board-authorized letter that he sent to activist-investor Elliott...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

One of the interesting features accompanying the rise of automation and tech in the US workplace is the lack of any comprehensive means of tracking its pervasiveness. One panel of economists and consumer experts is...more

FinTech – The CFTC’s Silver Bullet?

by King & Spalding on

On March 15, Acting US Commodity Futures Trading Commission (CFTC) Chairman J. Christopher Giancarlo excited the futures and options markets when he spoke at length about embracing technology as a key to economic growth. ...more

State of Colorado Proposes Financial Services Cybersecurity Requirements

Following in the footsteps of the State of New York, the Colorado Department of Regulatory Agencies has proposed amendments to the Colorado Securities Act to require investment advisers and broker-dealers to implement new...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

One might think that Tesla shareholders would be thrilled with yesterday’s news that Elon’s car-making arm has surpassed even GM in market value. True, perhaps, but only to a point. Turns out that Tesla’s recent surge has...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Wells Fargo’s board not only issued a massive report on its fake account scandal yesterday. It also announced that the bank would claw back an additional $75 million from former CEO John Stumpf and former head of community...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Navient Corp., facing CFPB allegations that it didn’t live up to its promises of helping its 12 million customers manage their loans, now has a two-faced problem after a recently filed motion to dismiss in which it argued...more

SEC Denies Listing of another Bitcoin Fund; Petition for Review Filed for Winklevoss Bitcoin Trust

The SEC has denied a proposed rule change by NYSE Arca to permit the listing and trading of shares of the SolidX Bitcoin Trust. The reasons were substantially similar to the reasons the SEC denied a proposed rule change...more

Corporate Governance Features: for Silicon Valley and San Francisco Bay Area Public Companies

Orrick has unveiled an unprecedented new study examining the corporate governance structures of the largest public companies in the Bay Area, including tech industry leaders. The comprehensive study reviewed the 153...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Eric Mindich—famous for becoming the youngest-ever Goldman partner at 29—is shuttering his Eton Park Capital Management hedge fund and returning the $7 billion it manages to investors. Viewed along with Pershing Square’s...more

Regulation A+ Issuer Aims for NYSE MKT Listing

Myomo, Inc. has had an offering statement qualified by the SEC in which it discloses an intent to apply to list its common stock on the NYSE MKT LLC. The offering seeks to raise $15 million on a “best efforts” basis without...more

Delaware Paves the Way for the Use of Blockchain Technology

by Morrison & Foerster LLP on

Following last May’s announcement of the “Delaware Blockchain Initiative” by former Delaware Governor Jack Markell, on March 13, 2017, the Corporate Council of the Corporation Law Section of the Delaware State Bar Association...more

Delaware Paves the Way for the Use of Blockchain Technology

by Morrison & Foerster LLP on

Following last May’s announcement of the “Delaware Blockchain Initiative” by former Delaware Governor Jack Markell, on March 13, 2017, the Corporate Council of the Corporation Law Section of the Delaware State Bar Association...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Following up on news last week that Bill Ackman was finally done with his grand Valeant experiment, the Times gives us a deeper look at what was really going on with the activist investor’s bet and ultimate $4 billion loss....more

Should the SEC Allow FinTech Firms to Play in a Sandbox?

by Polsinelli on

The growth of financial services technology (FinTech) presents tremendous opportunities for the industry. However, the growth of FinTech also poses substantial challenges to regulators including the U.S. Securities and...more

Wendy’s Executives and Board File Motion to Dismiss

We previously reported that Wendy’s was hit with a putative class action shareholders’ derivative suit in December following its data breach in 2016. Late last week, the executives and Board of Wendy’s filed a Motion to...more

Orrick's Financial Industry Week In Review

Financial Industry Developments - House Committee on Financial Services Comments on OCC Fintech Charter - All 34 Republican members of the Financial Services Committee of the U.S. House of Representatives, including...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

As anticipated (and hinted-at forcefully by its officials), the Fed raised the benchmark interest rate yesterday to a range nearing 1 percent, a move that signals the slow end to the body’s nine-year stimulus effort....more

Legislative Proposal Addresses Use of Blockchain Technology by Delaware Corporations

The Corporate Council of The Corporation Law Section of the Delaware State Bar Association has prepared proposed amendments to the Delaware General Corporation Law to facilitate the use of block chain technology for...more

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Cybersecurity

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