Two years ago, we wrote about a cautionary tale in which a New York federal court allowed a complaint alleging that a popular set of NFT basketball cards were “securities” to survive dismissal, rejecting the argument that,...more
On March 6, 2024, the SEC announced its long-awaited adoption of final rules regarding climate-related disclosures by public companies and in public offerings (the “Climate Rules”). The SEC dialed back the more prescriptive...more
3/15/2024
/ Business Strategies ,
Climate Change ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Greenhouse Gas Emissions ,
Greenwashing ,
Popular ,
Proposed Rules ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Task Force on Climate-related Financial Disclosures (TCFD)
On March 15, 2023 the Securities and Exchange Commission (“SEC”) proposed three new sets of rules (the “Proposed Rules”) which, if adopted, would require a variety of companies to beef up their cybersecurity policies and data...more
4/10/2023
/ Cybersecurity ,
Data Management ,
Data Protection ,
Data Security ,
Popular ,
Proposed Regulation ,
Proposed Rules ,
Regulation S-P ,
Regulatory Agenda ,
Regulatory Reform ,
Securities and Exchange Commission (SEC)
Continuing its push to make Environmental, Social, and Governance (“ESG”) issues a key agency priority, on May 25, 2022 the SEC announced two sets of proposed rule amendments taking aim at “greenwashing” in investment funds....more
A key enforcement power of the Securities and Exchange Commission (“SEC”)—its ability to elect to conduct in-house administrative proceedings before Administrative Law Judges (“ALJs”) instead of bringing an action in federal...more
Seyfarth Synopsis: The ever evolving landscape of environmental, social and governance (ESG) factors and 401(k) plan investment options may have just become even more complicated....more
Seyfarth Synopsis: Special Purpose Acquisition Company (“SPAC”) transactions have dramatically increased since the start of 2020, bringing with them risk of securities litigation....more
Seyfarth Synopsis: The Securities and Exchange Commission (“SEC”) adopted a new investor marketing rule to replace and modernize its current advertising and cash solicitation rules. Neither of these rules has been...more
Seyfarth Synopsis: The SEC announced a new “human capital” disclosure requirement, to take effect thirty days after publication in the Federal Register. The language of the rule does not give much by way of guidance—on...more
Seyfarth Synopsis: On Monday, June 22, 2020, the Supreme Court issued its decision in Liu et al v. Securities and Exchange Commission (“SEC”). In an 8-1 decision, written by Justice Sotomayor...more
6/25/2020
/ 15 U.S.C. § 78u(d)(5) ,
Administrative Authority ,
Business Expenses ,
Calculation of Damages ,
Corporate Misconduct ,
Disgorgement ,
Enforcement Actions ,
Equitable Relief ,
Kokesh v SEC ,
Lack of Authority ,
Liu v Securities and Exchange Commission ,
Net Profits ,
Remedies ,
SCOTUS ,
Securities and Exchange Commission (SEC)
Seyfarth Synopsis: The COVID-19 pandemic has already spurred several private securities class action lawsuits and Securities and Exchange Commission (“SEC”) enforcement actions. Companies that deal with COVID-19 on a daily...more
6/13/2020
/ Business Disruption ,
Carnival Cruise Lines ,
Coronavirus/COVID-19 ,
Cruise Ships ,
Pharmaceutical Industry ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Litigation ,
Vaccinations ,
Virus Testing ,
Zoom®
Seyfarth Synopsis: On Tuesday, March 3, 2020, the Supreme Court heard oral arguments in Liu et al v. Securities and Exchange Commission, in what some thought would be a landmark case on the SEC’s power to seek disgorgement...more
3/10/2020
/ Administrative Authority ,
Corporate Counsel ,
Disgorgement ,
Enforcement Actions ,
Equitable Relief ,
Kokesh v SEC ,
Lack of Authority ,
Liu v Securities and Exchange Commission ,
Oral Argument ,
Penalties ,
Regulatory Agencies ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Split of Authority ,
Statute of Limitations
Seyfarth Synopsis: On Thursday, February 6, 2020, SEC Commissioner Hester Peirce proposed rules which, if certain conditions are met, would, for three years, exempt (1) the offer and sale of tokens from most provisions of the...more
2/12/2020
/ Cryptocurrency ,
Digital Currency ,
Enforcement Actions ,
Exempt Transactions ,
Exemptions ,
Initial Coin Offering (ICOs) ,
Proposed Rules ,
Regulatory Agenda ,
Rulemaking Process ,
Safe Harbors ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Token Sales ,
Unregistered Securities