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SEC Expands Confidential Registration Statement Filing Process

The SEC announced that companies can now submit registration statements for confidential review before public filing in connection with most registered offerings. This expansion builds on the confidential filing process that...more

Insider Trading Policy Key Terms and Trends

With the compliance deadline for the newly issued Item 408(b) of Regulation S-K approaching for calendar-year-end companies and the increased use by the Department of Justice and the SEC of data analytics in pursuing insider...more

SEC Updates Disclosure Requirements for Risk Factors and Business and Legal Proceeding Descriptions

Exchange Act Reports; Securities Act Filings - On August 26, 2020, the Securities and Exchange Commission announced changes to Regulation S-K intended to modernize certain disclosures related to an issuer’s business...more

COVID19 Investment Scams Become Focal Point of Securities Regulators

The Massachusetts Securities Division (the Division) warns that the average investor is overwhelmed by the COVID-19 pandemic. The Division points to several COVID-19-related items such as physical isolation, job uncertainty...more

Final Amendments to M&A Financial Statement Disclosures Adopted by SEC

Executive Summary. On May 21, 2020, the Securities and Exchange Commission (SEC) adopted amendments to the current rules that require public companies to disclose financial information on significant acquisitions and...more

Nasdaq Delays Implementation of Accelerated Delisting Process for Issuers with Bid Price Compliance Issues

The SEC declared immediately effective a proposed Nasdaq rule change to delay the implementation (the “Delay Implementation”) of the previously approved Nasdaq rule change (the “April Rule Change”) to expedite delisting of...more

Certain Shareholder Approval Requirements Relaxed as NYSE Provides Temporary Exception Due to COVID-19

The SEC declared, effective immediately as of May 14, 2020, a new NYSE rule proposal which provides a temporary exception through June 30, 2020 from the shareholder approval requirements for specified issuances of 20% or more...more

Certain Shareholder Approval Requirements Relaxed as Nasdaq Provides Temporary Exception Due to COVID-19

The SEC declared, effective immediately, as of May 4, 2020, a new Nasdaq rule proposal (“Listing Rule 5636T”), which provides a temporary exception, through June 30, 2020...more

SEC Staff Provides FAQs Related to COVID-19 Order

On May 4, 2020, the staff of the Division of Corporation Finances issued four new COVID-19-related FAQs relating to the SEC’s COVID-19 Order and its interaction with Form S-3 (FAQs were issued and not included in the staff’s...more

Nasdaq to Toll Compliance Period for Price-Based Continued Listing Requirements

The SEC declared immediately effective, as of April 17, 2020, a Nasdaq rule proposal providing relief to listed companies that, in light of market conditions resulting from the impact of COVID-19, have fallen out of...more

SEC Corporate Finance Staff Provides Temporary Relief for Form 144 Paper Filings

The Division of Corporation Finance staff of the Securities Exchange Commission continues to address logistical difficulties arising from COVID-19, in this case with regard to paper Form 144 submissions....more

NYSE Temporarily Relaxes Shareholder Approval Requirements for Certain Equity Issuances

The SEC has approved and declared immediately effective an NYSE proposed rule change to waive, through June 30, 2020, and subject to compliance with conditions, application of certain of the shareholder approval requirements...more

SEC Offers Extended Filing Relief to Companies Hit by Coronavirus

Exchange Act Reports - On March 25, 2020, the Securities and Exchange Commission issued an exemptive order modifying its March 4, 2020 order granting regulatory relief for certain publicly-traded company filing obligations...more

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