On December 18, 2025, the Holding Foreign Insiders Accountable Act (HFIAA) removed the exemption from reporting under Section 16(a) of the Securities Exchange Act of 1934 (Exchange Act), as amended, for foreign private...more
Welcome to Horizon, DLA Piper’s monthly bulletin reporting on late-breaking legislative and policy developments in sustainability. Our aim is to scan the litigation, enforcement, and regulatory horizon to help inform business...more
3/5/2026
/ California ,
CARB ,
Corporate Sustainability Reporting Directive (CSRD) ,
Disclosure Requirements ,
Environmental Policies ,
Environmental Social & Governance (ESG) ,
European Commission ,
Financial Services Industry ,
Greenhouse Gas Emissions ,
Greenwashing ,
Human Rights ,
New York ,
Popular ,
Regulatory Reform ,
Regulatory Requirements ,
Reporting Requirements ,
Sustainability
The US Securities and Exchange Commission (SEC) released a joint statement on January 28, 2026 clarifying the application of federal securities laws to tokenized securities. This statement, published through the SEC’s...more
2/12/2026
/ Blockchain ,
Capital Markets ,
Cryptoassets ,
Digital Assets ,
Digital Securities ,
FinTech ,
Innovative Technology ,
Nasdaq ,
New Guidance ,
No-Action Letters ,
Proposed Rules ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Tokenization
On January 13, 2026, the United States Securities and Exchange Commission (SEC) announced plans to conduct a comprehensive review of Regulation S-K, the central framework governing non-financial statement disclosure...more
1/19/2026
/ Comment Period ,
Disclosure Requirements ,
New Amendments ,
Proposed Rules ,
Proxy Statements ,
Publicly-Traded Companies ,
Regulation S-K ,
Regulatory Reform ,
Reporting Requirements ,
Rulemaking Process ,
Securities and Exchange Commission (SEC)
Now that 2026 has begun, United States public companies with a December 31 fiscal year-end will be working to prepare their annual reports on Form 10-K for filing with the US Securities and Exchange Commission...more
1/14/2026
/ Accelerated Filers ,
Disclosure Requirements ,
Emerging Growth Companies ,
Filing Deadlines ,
Filing Requirements ,
Financial Reporting ,
Form 10-K ,
Regulation S-K ,
Regulatory Agenda ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Smaller Reporting Companies
President Donald Trump has issued an Executive Order 14366, “Protecting American Investors from Foreign-Owned and Politically-Motivated Proxy Advisors,” which could significantly impact the policies and practices of...more
1/2/2026
/ Antitrust Investigations ,
Department of Labor (DOL) ,
Diversity and Inclusion Standards (D&I) ,
Employee Retirement Income Security Act (ERISA) ,
Environmental Social & Governance (ESG) ,
Executive Orders ,
Federal Trade Commission (FTC) ,
Fiduciary Duty ,
Proxy Advisory Firms ,
Securities and Exchange Commission (SEC) ,
Shareholder Proposals ,
State Attorneys General ,
Trump Administration
Institutional Shareholder Services (ISS) and Glass, Lewis & Co. (Glass Lewis), two major proxy advisory firms in the United States, have updated their benchmark proxy voting guidelines for the 2026 proxy season.
These...more
1/2/2026
/ Board of Directors ,
Corporate Governance ,
Dual Class Share Structures ,
Environmental Social & Governance (ESG) ,
Equity Compensation ,
Executive Compensation ,
Glass Lewis ,
Institutional Shareholder Services (ISS) ,
Proxy Advisory Firms ,
Proxy Season ,
Proxy Voting ,
Publicly-Traded Companies ,
Say-on-Pay ,
Shareholder Proposals
For more than five decades, a significant advantage of “Foreign Private Issuer” (FPI) status was the exemption from the beneficial ownership reporting requirements and short-swing profit rules of Section 16 of the Securities...more
12/26/2025
/ Beneficial Owner ,
Compliance ,
Disclosure Requirements ,
Filing Deadlines ,
Filing Requirements ,
Foreign Private Issuers ,
Insider Trading ,
New Legislation ,
Regulatory Requirements ,
Reporting Requirements ,
Section 16 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934
Welcome to Horizon, DLA Piper’s monthly bulletin reporting on late-breaking legislative and policy developments in sustainability. Our aim is to scan the litigation, enforcement, and regulatory horizon to help inform business...more
11/26/2025
/ CARB ,
Climate Action Plan ,
Climate Change ,
COP ,
Environmental Policies ,
EU ,
Financial Services Industry ,
Greenwashing ,
International Sustainability Standards Board (ISSB) ,
Natural Resources ,
Net Zero ,
Popular ,
Regulatory Requirements ,
Reporting Requirements ,
Sustainability
On November 17, 2025, the United States Securities and Exchange Commission (SEC)’s Division of Corporation Finance announced that it would significantly curtail its review of no-action submission requests for the upcoming...more
11/19/2025
/ Corporate Governance ,
New Guidance ,
No-Action Letters ,
Proxy Season ,
Proxy Statements ,
Publicly-Traded Companies ,
Rule 14a-8 ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Shareholder Proposals ,
Shareholders
After the government reopened on November 13, 2025, the United States Securities and Exchange Commission (SEC) issued a statement including questions and answers (Q&A) related to filings made during or after the federal...more
11/17/2025
/ Disclosure Requirements ,
Filing Deadlines ,
Filing Requirements ,
Government Shutdown ,
New Guidance ,
Registration Statement ,
Regulatory Oversight ,
Regulatory Requirements ,
Reporting Requirements ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Securities Regulation
This periodic bulletin is designed to help companies identify important legal developments governing the use and acceptance of blockchain technology, smart contracts, and digital assets....more
11/3/2025
/ Blockchain ,
Capital Markets ,
CFTC ,
Cryptoassets ,
Digital Assets ,
Distributed Ledger Technology (DLT) ,
Financial Services Industry ,
FinTech ,
No-Action Letters ,
Popular ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Smart Contracts ,
Stablecoins
On October 9, 2025, during a keynote address at the John L. Weinberg Center for Corporate Governance’s 25th Anniversary Gala, United States Securities and Exchange Commission (SEC) Chairman Paul Atkins suggested that the SEC...more
US public companies increasingly embrace digital assets as part of their corporate treasury strategies. Known as digital asset treasury (DAT) companies, these public companies, at the core of their revamped business model,...more
10/6/2025
/ Asset Management ,
Bitcoin ,
Blockchain ,
Capital Markets ,
CFTC ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Investment ,
Investors ,
Publicly-Traded Companies ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Stablecoins
At 12:01am ET on October 1, 2025, a federal government shutdown went into effect. The Securities and Exchange Commission (SEC) has posted an announcement and Q&A regarding the activities of the Division of Corporation Finance...more
On September 12, 2025, the Eighth Circuit Court of Appeals ordered that the proceedings in Iowa v. SEC – the case challenging the Securities and Exchange Commission’s (SEC) landmark climate disclosure rules – remain paused...more
On September 8, The Nasdaq Stock Market LLC (Nasdaq) filed a Form 19b-4 with the Securities and Exchange Commission (SEC), proposing rule changes that would allow trading of equity securities and exchange-traded products...more
Welcome to Horizon, DLA Piper’s monthly bulletin reporting on late-breaking legislative and policy developments in ESG. Our aim is to scan the litigation, enforcement, and regulatory horizon to help inform business decisions....more
7/31/2025
/ California ,
Climate Change ,
Corporate Sustainability Reporting Directive (CSRD) ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
Extended Producer Responsibility (EPR) ,
Regulatory Requirements ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Sustainability
The Securities and Exchange Commission (SEC) has asked the Eighth Circuit Court of Appeals to lift its stay and issue a ruling in Iowa v. SEC, the case challenging the validity of its landmark Climate Disclosure Rules...more
This periodic bulletin is designed to help companies identify important legal developments governing the use and acceptance of blockchain technology, smart contracts, and digital assets....more
7/29/2025
/ AML/CFT ,
Blockchain ,
CFTC ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
Financial Services Industry ,
Fraud ,
Investment Management ,
Investors ,
New Legislation ,
Ponzi Scheme ,
Regulatory Reform ,
Regulatory Requirements ,
Stablecoins
On July 17, 2025, the US Congress passed the Guiding and Establishing National Innovation for US Stablecoins Act (Genius Act or Act) by 308–122 vote, a landmark piece of legislation establishing the first federal regulatory...more
Welcome to Horizon, DLA Piper’s monthly bulletin reporting on late-breaking legislative and policy developments in ESG. Our aim is to scan the litigation, enforcement, and regulatory horizon to help inform business decisions....more
6/30/2025
/ California ,
Canada ,
Climate Change ,
Environmental Policies ,
Environmental Social & Governance (ESG) ,
EU ,
Extended Producer Responsibility (EPR) ,
Greenwashing ,
Plastics ,
Regulatory Requirements ,
Reporting Requirements ,
Sustainability
Adopted in July 2023, the US Securities and Exchange Commission (SEC)’s cybersecurity disclosure rules require public companies to report material cybersecurity incidents on Form 8-K and to annually report on their...more
On May 23, President Donald Trump announced that he was recommending a new “straight 50% tariff” on all goods from the European Union beginning June 1. Treasury Secretary Scott Bessent said he hoped this decision would “light...more
6/3/2025
/ Clean Air Act ,
Congressional Review Act ,
Department of Energy (DOE) ,
Drinking Water ,
EU ,
European Commission ,
Industrial Sector ,
International Trade ,
Manufacturers ,
PFAS ,
Regulatory Reform ,
Tariffs ,
Trump Administration ,
US Trade Policies
EPA announces details of its reorganization. On May 2, the EPA announced a major reorganization that will eliminate several key offices, including the Office of Atmospheric Protection (OAP), Office of Air Quality Planning and...more
6/2/2025
/ Carbon Emissions ,
Climate Change ,
Energy Sector ,
Environmental Protection Agency (EPA) ,
Environmental Social & Governance (ESG) ,
European Securities and Markets Authority (ESMA) ,
Executive Orders ,
Financial Services Industry ,
Greenhouse Gas Emissions ,
Greenwashing ,
Oil & Gas ,
Popular ,
Regulatory Agenda ,
Regulatory Reform ,
Regulatory Requirements ,
Trump Administration