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Skadden, Arps, Slate, Meagher & Flom LLP

Hong Kong Regulatory Update - August 2024

查看中文 This update primarily provides an overview of key regulatory developments in the second quarter of 2024 relevant to companies listed, or planning to list, on The Stock Exchange of Hong Kong Limited (HKEx) and their...more

A&O Shearman

UK Financial Conduct Authority Research on Digital Engagement Practices in Trading Apps

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The Financial Conduct Authority has published a research note setting out the outcomes of an experiment to investigate the effect of digital engagement practices (DEPs) on trading behavior. The FCA tested an experimental...more

Carlton Fields

Second Circuit Clarifies Limitations of Fraud on Market Theory

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In a three-ring circus — where the first is the motion to dismiss, the second is class certification, and the third is summary judgment — the Second Circuit Court of Appeals has introduced a new act in the second ring for...more

Skadden, Arps, Slate, Meagher & Flom LLP

JPEX Is Test Case for Hong Kong’s New Regulatory Regime for Virtual Asset Exchanges

Hong Kong regulators recently brought criminal enforcement actions against virtual asset trading platform JPEX and individuals associated with the platform. This case has become the first opportunity for local authorities to...more

Proskauer Rose LLP

Get Ready to Comply Next Quarter With the SEC’s Amended Rules for Corporate Equity Buy-Backs

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Corporate buy‑back plans will be impacted this year both by the adoption of new rules directly addressing such plans, and new rules related to advance stock trading plans that permit trading to continue even when in...more

BCLP

Jump Start on Disclosure Changes and Updates for Q2 2023 SEC Filings

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As we near June 30, 2023, companies are advised to get a jump start on disclosure changes and possible updates to upcoming Form 10-Qs (or Form 10-Ks in the case of non-calendar year companies). The SEC recently updated the...more

BCLP

Time to Get Ready - SEC Adopts Expanded Share Repurchase Disclosures

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What happened - On May 3, 2023, a divided SEC adopted rule amendments that significantly increase company disclosures about their share repurchases. The changes will require companies to...more

Morrison & Foerster LLP

Speed is a Key Component of Successfully Executing a Stock-for-Stock Merger

The general notion among M&A practitioners is that time kills deals. That is even more the case in public deals and even more so in a stock-for-stock deal. To be sure, for each day the deal is not signed, the risk grows that...more

Jenner & Block

Client Alert: DOJ and SEC Used Data Analytics to Target Insider Trading with 10b5-1 Plans

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The DOJ and SEC have made no secret of their interest in combatting potential insider trading by high-level executives misusing Rule 10b5-1 plans. Those plans provide a potential safe harbor for executives trading their...more

Robins Kaplan LLP

Robinhood Cuts Workforce by 23% to Counter Ill-Advised Expansion

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Trading app Robinhood, which “popularized one-click trading and helped fuel last year’s meme stock frenzy,” announced this week that it’s firing 23% of its workforce. The move comes on the heels of the company laying off 340...more

BCLP

A few lessons for internal and outside counsel from the WorldCom collapse - 20 years later

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It has now been 20 years since the historic collapse of WorldCom, Inc. (“WorldCom” or the “Company”). A review of the WorldCom collapse yields some continuing lessons for corporate counsel....more

Kohrman Jackson & Krantz LLP

OpenSea Employee Arrested in First NFT Insider Trading Case

Earlier this month, the U.S. Attorney’s Office for the Southern District of New York announced the first ever indictment for insider trading of digital assets. According to the indictment, in 2021 Nathaniel Chastain was...more

Proskauer - The Capital Commitment

California District Court Upholds SEC’s Novel “Shadow Trading” Theory

The SEC prevailed on a motion to dismiss a closely watched lawsuit alleging that a company employee had engaged in insider trading based on news about a not-yet-public corporate acquisition when he purchased securities of a...more

Mayer Brown Free Writings + Perspectives

Financial Disclosures for Federal Judicial Officers

Recent investigations share findings that over 130 US Federal judges presided over cases in which they had a financial conflict of interest since 2010.  In a 422-4 vote this week, the House passed a bipartisan bill that would...more

Katten Muchin Rosenman LLP

Market Trading Trends: Expect Regulatory Guidance to Accelerate

Gamification tactics and investment advice from social media influencers and chat rooms are just a couple of the disruptive technologies and behaviors that are capturing the attention of regulators in 2021 and forcing them to...more

Dechert LLP

International Capital Markets Newsletter - Winter 2021: HKEx introduced new FINI platform to modernise and streamline IPO...

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On 6 July 2021, the Hong Kong Exchanges and Clearing Limited (the “HKEx”) published its conclusions in response to its concept paper on the introduction of a new IPO settlement platform – Fast Interface for New Issuance...more

Burr & Forman

Gamification of Securities Trading: Big Risk or Just Evolution?

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In remarks this week at SEC Speaks, SEC Investor Advocate Rick Fleming mused that the “gamification” of securities trading might pose an undue risk that exploits a potential loophole in Regulation Best Interest (“Reg. BI”)....more

Mintz

Commissioner Gary Gensler Has His Eyes Set on Rule 10b5-1 Plans

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The Securities and Exchange Commission (“SEC”) is honing in on Rule 10b5-1 plans. Rule 10b5-1 plans provide an affirmative defense and allow corporate directors and officers to sell and purchase securities without violating...more

Robins Kaplan LLP

Financial Daily Dose 9.17.2021 | Top Story: World Bank Withdraws “Doing Business” Report After Probe Suggests Improper Influence

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In what appears to be a serious black eye for the organization, the World Bank has canceled its prominent “Doing Business” report (which rates the “business environment of the world’s countries”) after an “investigation...more

Carlton Fields

Regulators Consider Payment for Order Flow and the Gamification of Trading After GameStop

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The U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) have been busy of late in efforts to address alleged compliance issues associated with payment for order flow (PFOF),...more

Cadwalader, Wickersham & Taft LLP

Securities Litigation Update: Eighth Circuit Endorses Striking Class-Action Allegations on the Pleadings, Setting Appellate-Level...

On June 3, 2021, in Donelson v. Ameriprise Financial Services, Inc., a panel of the U.S. Court of Appeals for the Eighth Circuit ordered class-action allegations in a putative securities fraud class action stricken on the...more

Stinson - Corporate & Securities Law Blog

Gensler Hints at Proposed Changes to Rule 10b5-1

In public remarks SEC Gary Gensler hinted at the following changes to Rule 10b5-1: - When insiders or companies adopt 10b5-1 plans, there’s currently no cooling off period required before they make their first trade....more

Lowenstein Sandler LLP

Let the Game(Stop) Begin—Unless You Are A Retail Investor

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Gone are the days when you had to walk into a physical branch to open a brokerage account. Each trade used to cost money, and account minimums were high. Not anymore. Now any American with internet access and a bank account...more

Cadwalader, Wickersham & Taft LLP

Securities Litigation Update: Eighth Circuit Closes the Door on Securities Class Action Alleging Violation of Broker’s Duty of...

On April 23, 2021, in Ford v. TD Ameritrade Holding Corp., a panel of the U.S. Court of Appeals for the Eighth Circuit reversed a district court order certifying a class action alleging that TD Ameritrade committed securities...more

Robins Kaplan LLP

Financial Daily Dose 3.18.2021 | Top Story: Fed Commits to Near-Zero Rates Despite Improving Economy

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The latest and greatest from Fed Chair Powell as the Fed’s March Open Markets Committee meeting wrapped yesterday, including a markets-pleasing assurance that better-than-expected economic growth wasn’t enough to push the...more

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