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KiOR Faces Significant Challenge Moving Forward

In an August 11, 2014, filing with the U.S. Securities and Exchange Commission, cellulosic biofuel company KiOR, Inc. (KiOR) reported that without any new financial commitments, the Company only has enough funding to operate...more

Recent EU Decisions Highlight Risks of “Gun Jumping”

The European Commission (“the Commission”) last month levied a fine of EUR 20 million on Marine Harvest ASA (“Marine Harvest”), a Norwegian seafood company, for acquiring a 48.5% stake in its competitor Morpol ASA (“Morpol”)...more

SEC Brings Fraud Charges Against Oil and Gas Company and Its CEO

On August 4, the Securities and Exchange Commission instituted cease-and-desist proceedings against Houston American Energy Corp., an oil and gas exploration and production company, and John F. Terwilliger, its CEO, for...more

SEC Charges Oil and PR Firms And Their Executives With Fraud

An energy company, its CEO and the firm’s public relations adviser and its president were named in a fraud action by the SEC centered on false representations concerning oil reserves for a property in Columbia. The...more

What 2014’s Continued IPO Surge Means for Clean Tech and Renewable Energy Companies

The year 2014 is on track to be the most active IPO market in the United States since 2000, with the mid-year total number of IPOs topping last year’s mid-year total by more than 60%. There were 222 US IPOs in 2013, with a...more

CFTC No-Action Relief from Potentially Burdensome Requirement for Automated Form 40S Response to CFTC ‘Special Calls’

On July 23, the CFTC staff issued No-Action Letter 14-95 extending the compliance date from August 15, 2014 to February 11, 2016 for use of new Forms 40/40S—reports solicited from market participants by “special call” of the...more

Focus on Regulatory Law - July 2014

In This Issue: - Regulation Authorities ..French Competition Authority ..Securities and Market Authority ..Audiovisual Council ..Authority for the Regulation of Electronic Communications -...more

SEC Settles Civil FCPA Action Against Two Former Oil Services Executives

On the eve of a trial which was scheduled to begin this week, the Securities and Exchange Commission settled a civil Foreign Corrupt Practices Act (FCPA) case it brought against two former oil services executives. The case...more

Frac(k)ing, Parr v. Aruba, and Minority Oppression

WHAT IS IT, FRACING OR FRACKING? Having gone back-and-forth over how to spell the process, I’ve figured it out....more

Investing in Georgia: Economic Development Newsletter - June 2014

Welcome to King & Spalding's economic development news bulletin, Investing in Georgia. In this edition, you will find: - A recap of the recent primary elections in Georgia, and a peek at the upcoming run-offs Analysis...more

If You See Something, Say Something, But Maybe Only To The SEC

A debate has been raging in the courts over whether an employee who reports suspected misconduct only to his employer but not to the U.S. Securities and Exchange Commission (“SEC”) is a “whistleblower” entitled to the...more

Congress and Industry Want Resource Extraction Rules Finalized

In 2013 the United States District Court for the District of Columbia vacated the SEC resource extraction disclosure rules that were mandated by Section 1504 of the Dodd-Frank Act. Fifty-eight Democratic lawmakers have...more

Africa Update - June 2014

In This Issue: - Leading the News - United States – Africa Relations - North Africa - East Africa - West Africa - Sub-Saharan Africa - General Africa News - Excerpt from...more

CFTC Proposes to Amend De Minimis Threshold for Swaps with Utility Providers

The Commodity Futures Trading Commission has proposed to amend the “special entity” de minimis exception from swap dealer designation to exclude certain swaps with public utility providers. The proposed regulations are...more

Focus on Regulatory Law - June 2014

In This Issue: Regulatory Authorities - ..Securities and Market Authority ..Authority for the Regulation of Electronic Communications ..Data Protection Authority ..Commission Nationale Informatique et...more

CFTC Proposes Rule to Exclude Municipal Utilities from $25 Million De Minimis Swap Dealer Threshold

Today the CFTC published its proposed rule that would exclude most swaps used by municipal utilities for hedging purposes from counting against the $25 million swap dealer de minimis threshold that currently applies to swaps...more

"CFTC Proposes Three Actions to Address Rulemaking Issues"

On May 22, 2014, the Commodity Futures Trading Commission (Commission or CFTC) and its staff took three actions. First, the Commission proposed to amend its existing definition of “swap dealer” in order to allow...more

SEC Alleges Fraud from Unregistered Offerings of Oil and Gas Securities

On May 12, the Securities and Exchange Commission brought a lawsuit in the US District Court for the Northern District of Texas, alleging that between September 2010 and January 2012, Charles Couch, directly and through his...more

Unregistered Finder Settles With The SEC, Agrees To Pay Millions

The SEC recently settled an enforcement action against an individual alleged to have sold millions of dollars in securities on behalf of oil and gas companies without being associated with a registered broker dealer, as...more

Legislative Update Report No. 2014-09 - May 2014

In This Article: - Federal Government - Alberta - British Columbia - Manitoba - New Brunswick - Newfoundland - Northwest Territories - Nova Scotia - Nunavut - Ontario - Prince Edward...more

Going Public: Powhatan Energy Fund’s “Insurance Policy” Regarding FERC Enforcement’s Non-Public Manipulation Investigation Into...

On February 28, 2014, Powhatan Energy Fund (“Powhatan”) launched a public website disclosing that for more than three years, the Federal Energy Regulatory Commission (“FERC”) Office of Enforcement (“OE”) has been...more

Legislative Update Report No. 2014-08

In This Article: Federal Government; Alberta; British Columbia; Manitoba; New Brunswick; Newfoundland; Northwest Territories; Nova Scotia; Nunavut; Ontario; Prince Edward Island; Québec/Quebec; Saskatchewan; and Yukon....more

Ignore The First Conflict Minerals Filing

Securities lawyers eagerly await the first (or the first few) new filings required by law to learn (and of course copy) from them. So the first conflict minerals filing to hit Edgar last week was eagerly anticipated, and...more

DC Circuit Court of Appeals Upholds Conflict Minerals Disclosure Rules, But Strikes Down Requirement That Companies Label Their...

Last week, the US Court of Appeals for the District of Columbia (“DC Circuit”) issued its long-awaited opinion relating to legal challenges to the Securities and Exchange Commission’s (“SEC”) conflict minerals disclosure...more

D.C. Circuit Rules A Provision Of The SEC Conflict Minerals Rule Violates The First Amendment

On April 14, 2014, the D.C. Circuit Court of Appeals in Nat'l Ass'n of Mfrs. v. SEC, 2014 BL 102614, D.C. Cir., No. 13-5252, 4/14/14) upheld all aspects of the Securities and Exchange Commission (SEC)’s conflict mineral rule,...more

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