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Stocks Securities

Delaware Becomes the First State to Allow Corporations to Maintain Corporate Records Using Blockchain Technology

by Jones Day on

On August 1, 2017, Delaware became the first state to allow corporations to use blockchain technology to maintain corporate records. This development comes almost a year after Vice Chancellor J. Travis Laster of the Delaware...more

Quarterly Investment Update - 1st Quarter 2017

by Perkins Coie on

Stock Market Commentary - Despite the realization that a number of Trump's fiscal policy changes, including tax reform, could face many roadblocks, investors welcomed reports of firming economic fundamentals, providing a...more

IRS Releases New Regulations Regarding Dividend Equivalents

On January 19, 2017, the Internal Revenue Service (the “IRS”) issued final, temporary, and proposed regulations (the “Regulations”) under section 871(m) of the Internal Revenue Code of 1986, as amended (the “Code”). Code...more

Quarterly Investment Update - 4th Quarter 2016

by Perkins Coie on

ECONOMIC REVIEW AND OUTLOOK - In this past year we were reminded again to expect the unexpected: The well-established political classes in the U.K., the U.S. and Italy learned that democracy was their Achilles’ heel, and...more

The Securities Law Crystal Ball

by Morrison & Foerster LLP on

At the beginning of each new year, we find ourselves engaged in discussions of the evolving securities regulatory landscape and the changes that we anticipate may occur. We have done this for many years now. Each January we...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

We learned about Navient and its allegedly trouble-filled student-loan servicing practices yesterday. Turns out the issues are not only long-standing, but they bear similarities to the mortgage-lending issues that were at...more

Applying the Look-Through Rules in Determining 'Investment Partnership' Status Under Section 721(b) - Tax Update Volume 2017,...

by Pepper Hamilton LLP on

Careful Evaluation and Planning Should Be Undertaken When the Partnership Is Formed and When Assets Are Contributed to Evaluate the Potential Impact of Section 721(b). Many taxpayers choose partnership structures...more

Outcomes of Investing in OTC Stocks

The Division of Economic and Risk Analysis (DERA) of the Securities and Exchange Commission published a study recently that reviews, among other things, the performance of and the returns of investing in OTC stocks. The...more

Eleventh Circuit Confirms that Issuers are not Required to Disclose Retention of Outside Promotional Firms

by King & Spalding on

On December 15, 2016, the United States Court of Appeals for the Eleventh Circuit affirmed the dismissal of a securities class action against Galectin Therapeutics Inc., a Georgia-based biotechnology company. The suit...more

Dismissal for Drugmaker Affirmed: Galectin Had No Duty to Disclose Payments to Promoters

by Carlton Fields on

In re: Galectin Therapeutics, Inc. Securities Litigation, No. 16-10324, 2016 WL 7240146, ____ , F2d ___ (11th Cir. Dec. 15, 2016). The Eleventh Circuit recently addressed the circumstances under which a public company...more

Stockholders Petition the Supreme Court to Liberalize Eleventh Circuit Rules for Pleading Securities Fraud

A recent petition for certiorari filed in the United States Supreme Court asks the Court to clarify what an aggrieved investor must plead to state a claim for securities fraud under the Securities and Exchange Act of 1934...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

SEC chief Mary Jo White has announced that she’ll be stepping down in early 2017—an expected move that nevertheless drives home the reality of the big changes ahead for the securities industry (and many others)....more

IRS Issues Final and Temporary Debt-Equity Regulations Under Section 385

by Proskauer - Tax Talks on

On October 13, 2016, the Treasury Department and the Internal Revenue Service issued final and temporary regulations under section 385 of the Internal Revenue Code. The final and temporary regulations recharacterize certain...more

IRS Issues Final and Temporary Debt-Equity Regulations Under Section 385

by Proskauer Rose LLP on

On October 13, 2016, the Treasury Department and the Internal Revenue Service issued final and temporary regulations under section 385. The final and temporary regulations recharacterize certain debt instruments as equity for...more

Quarterly Investment Update - 3rd. Quarter 2016

by Perkins Coie on

Investor confidence rebounded in the third quarter immediately following Brexit, driving the S&P 500 to new highs. Comments by the Fed in early September stirred up some volatility and share prices slipped backwards. Not...more

SEC Says Mobile Phone Game is an Illegal Security-Based Swap

I previously discussed an SEC Investor Alert which said fantasy stock trading for small amounts of money can violate provisions of securities laws implemented by the Dodd-Frank Act. According to the SEC, the terms “swap,”...more

Orrick's Financial Industry Week In Review

Financial Industry Developments - The CFPB Publishes Final Rule for Prepaid Accounts - On October 5, 2016, the Consumer Financial Protection Bureau (the "CFPB") finalized comprehensive consumer protections for...more

Second Circuit Affirms Exclusion of Certain Foreign Purchasers and Purchases from Securities Class Action

The U.S. Court of Appeals for the Second Circuit issued a lengthy opinion today in the long-running In re Vivendi, S.A. Securities Litigation, affirming the jury’s verdict on liability and addressing issues about loss...more

Your daily dose of financial news - The Brief – 9.27.16

by Robins Kaplan LLP on

We learned yesterday that Twitter’s shopping itself around for a buyer. It’s facing one big complication, though—the sizeable amount of stock Twitter has doled out to its employees over the years. Last year, for example,...more

Blockchain and Public Securities: Shedding Light on 'Going Dark'

by Pepper Hamilton LLP on

The application of blockchain technology to the securities market could prove to be a game changer by adding transparency, reducing costs and speeding up settlements. Initially known as the technology underlying the...more

SEC’s Proposed Amendments to Broker-Dealers’ Order Routing Disclosures

by Dechert LLP on

The U.S. Securities and Exchange Commission (SEC) has published proposed amendments to Rule 606 under Regulation NMS of the Securities Exchange Act of 1934 (Exchange Act), which would require broker-dealers to disclose...more

Your daily dose of financial news - The Brief – 8.15.16

by Robins Kaplan LLP on

More details have emerged from the February cyberheist that resulted in the theft of more than $81 million from Bangladesh’s account at the NY Fed, including a pretty significant lack of critical concern from the bank itself....more

‘Brexit’ Implications for Listings of Securities on the London Stock Exchange

by Morgan Lewis on

If Britain decides to leave the European Union as a result of a “Brexit” vote on 23 June 2016, the effect on the UK and EU financial services sectors could be significant; in particular, there could be effects on the London...more

"NYSE Trading Suspension: Implications for Issuer Equity Derivatives"

At 11:32 a.m. on July 8, 2015, the New York Stock Exchange (NYSE) announced that NYSE/NYSE MKT had temporarily suspended trading in all symbols. While the suspension appears to have had little impact on overall trading...more

Happy Public Float Day!

If you are a year-end company, today is the end of your second fiscal quarter, which means that it’s just about time to calculate your public float to see if your reporting status has changed. Here are a few things to...more

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