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SEC Staff Releases Updated Guidance on Private Offerings Involving General Solicitation

On March 12, 2025, the staff of the Securities and Exchange Commission (SEC) issued a series of updates to the Securities Act Rules Compliance and Disclosure Interpretations (C&DIs), primarily affecting exempt offerings under...more

SEC Expands Availability of Confidential Review Process to Encourage Flexibility in Capital Formation

On March 3, 2025, the Securities and Exchange Commission (SEC) staff issued guidance that expands the existing accommodations available to companies to submit draft registration statements to the SEC for confidential,...more

One Year with the Listed Issuer Financing Exemption

It has been one year since the Canadian Securities Administrators (the CSA) introduced the listed issuer financing exemption (the LIFE Exemption) under Part 5A of National Instrument 45-106 Prospectus Exemptions, which is...more

SEC Adopts Final Rules on Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure

On July 26, 2023, the Securities and Exchange Commission (SEC) announced the adoption of final rules relating to cybersecurity risk management, strategy, governance, and incident disclosures. The new rules define a...more

SEC Adopts Final Rules for Share Repurchase Disclosure

On May 3, 2023, the Securities and Exchange Commission (SEC) adopted final rules that significantly increase issuers’ disclosure obligations by requiring more detailed periodic disclosure about repurchases and issuer trading...more

SEC Adopts Amendments to Affirmative Defense to Insider Trading and Related Matters

On December 14, 2022, the Securities and Exchange Commission (SEC) adopted amendments to Rule 10b5-1 (Rule 10b5-1) under the Securities Exchange Act of 1934, as amended (Exchange Act) that provides an affirmative defense to...more

SEC Adopts Pay Versus Performance Disclosure Rules Seven Years After Original Proposal

On August 25, 2022, the Securities and Exchange Commission (SEC) adopted final disclosure rules implementing the pay versus performance requirement of the Dodd-Frank Act for most reporting companies. The SEC originally...more

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