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Secretariat

What Companies Should Be Watching in Securities Enforcement for the Remainder of 2026

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As companies navigate the second half of 2026, several enforcement themes are emerging across the securities regulatory landscape. Digital assets, artificial intelligence, prediction markets, and parallel investigations...more

A&O Shearman

UK FCA update on reforms to the Money Market Fund regime

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The UK Financial Conduct Authority (FCA) has published a statement with an update on reforming the UK Money Market Fund Regulation (MMFR), following the government's announcement to repeal and replace the existing regime....more

Cornerstone Research

SEC Enforcement Against Public Companies and Subsidiaries in 1H FY 2026

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U.S. Securities and Exchange Commission (SEC) enforcement activity against public companies and subsidiaries continued at a slower pace in 1H FY 2026 with the SEC initiating five actions, the lowest in the first half of a...more

Cooley LLP

Proxy Season: How Next Year is Shaping Up

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Here’s an excerpt from this Cooley Alert penned by Beth Sasfai, Brad Goldberg, Michael Mencher, Vince Flynn, Victoria Peluso, Reid Hooper and Justin Kisner: The SEC’s 2026 rulemaking agenda includes a potential proposal...more

Ropes & Gray LLP

Supreme Court Holds No Implied Private Right of Action Under Section 47(b) of the Investment Company Act

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On June 11, 2026, in a 6-3 decision authored by Justice Barrett, the Supreme Court issued its much-anticipated decision in FS Credit Opportunities Corp. v. Saba Capital Master Fund, Ltd., holding that Section 47(b) of the...more

Seyfarth Shaw LLP

The Week in Weed: June 2026 #2

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Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, we have more news from Virginia. Trulieve lists on Wall Street. Idaho could prohibit cannabis legalization...more

Alston & Bird

NFA Amends Branch Office Supervision Rules, Permitting Oversight of Multiple Branch Offices and Remote Supervision

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Our Investment Funds Group examines recent National Futures Association amendments that provide members with additional flexibility in structuring branch office supervision while maintaining their obligation to ensure...more

Katten Muchin Rosenman LLP

The SEC is Through with the Trade-Through Rule

After a series of industry roundtables and clear messaging from Chairman Paul S. Atkins regarding his ongoing objections following his dissent more than two decades ago, the US Securities and Exchange Commission (the SEC or...more

Wiley Rein LLP

Delaware Court Holds De-Spac Transaction Does Not Trigger Public Offering Exclusion

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The Delaware Superior Court, applying Delaware law, held that a public offering exclusion does not bar coverage for a de-SPAC merger because the transaction did not constitute a public offering of the insured company’s...more

Hogan Lovells

SEC disgorgement following Sripetch: The end of pecuniary loss – and the beginning of new battles

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On June 4, 2026, the Supreme Court unanimously resolved a circuit split regarding the U.S. Securities and Exchange Commission’s (SEC) disgorgement power. In a victory for the SEC, the Supreme Court held in Sripetch v. SEC...more

Morgan Lewis

Supreme Court Rejects Implied Private Right of Action Under ICA Section 47(b)

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The US Supreme Court’s landmark decision in FS Credit Opportunities Corp. v. Saba Capital Master Fund, Ltd., which resolves a split among several federal circuit courts, reduces litigation risk for investment companies under...more

Dinsmore & Shohl LLP

Division of Examinations Shares Observations for Conflicts of Interest

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The SEC Division of Examinations issued a Risk Alert on June 9, 2026, providing the Division’s observations regarding advisers’ obligations relating to conflicts of interest disclosures. Specifically, the Division addresses...more

Thomas Fox - Compliance Evangelist

Trekking Through Compliance: Episode 15 – Shore Leave – Why Compliance Should be Fun

What if your best compliance training strategy is not more rules, but more imagination? In this episode of Trekking Through Compliance, we revisit the Star Trek: The Original Series episode “Shore Leave” and ask a...more

K&L Gates LLP

United States: Supreme Court Scissors up Saba’s Rescission Argument Under Section 47(b) of the 1940 Act

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The Supreme Court agreed to hear FS Credit Opportunities Corp., et al. v. Saba Capital Master fund, et al. to resolve whether Section 47(b) of the Investment Company Act of 1940 (Act) allows private parties to bring lawsuits...more

Goodwin

Supreme Court Rules That Section 47(b) of the Investment Company Act of 1940 Provides No Private Right of Action

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On June 11, 2026, the Supreme Court ruled that Section 47(b) of the Investment Company Act of 1940 (ICA), which governs mutual funds and other registered investment companies, does not provide private parties with a right to...more

Thomas Fox - Compliance Evangelist

AI Today in 5: June 15, 2026, The Anthropic In Trouble Edition

Welcome to AI Today in 5, the newest addition to the Compliance Podcast Network. Each day, Tom Fox will bring you 5 stories about AI to start your day. Sit back, enjoy a cup of morning coffee, and listen in to AI Today In 5....more

Stark & Stark

Muellenberg v. Bikon Corp.: The Landmark New Jersey Minority Oppression Case Every Closely Held Business Owner Should Understand

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Few New Jersey cases have had a greater impact on minority shareholder oppression law than the New Jersey Supreme Court’s decision in Muellenberg v. Bikon Corp., 143 N.J. 168 (1996). The case is one of the foundational...more

Lowenstein Sandler LLP

Personal Services Entities: FINRA Confirms Rules Align With SEC No-Action Relief on Rep-Owned Entities

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FINRA confirms its rules align with Securities and Exchange Commission (SEC) no-action relief on personal services entities. In November 2025, SEC staff issued a no-action letter (NAL) providing that it would not recommend...more

Morrison & Foerster LLP

SEC Issues Risk Alert on Investment Adviser Conflicts of Interest

On June 9, 2026, the SEC’s Division of Examinations (“EXAMS”) issued a risk alert (the “Risk Alert”) identifying recurring deficiencies related to economic conflicts of interest observed by EXAMS staff in examinations of...more

Morgan Lewis

Securities Enforcement Roundup – May 2026

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In this issue of our monthly Securities Enforcement Roundup, we highlight top securities enforcement developments from May 2026. In May 2026: The US Securities and Exchange Commission (SEC or the Commission) rescinded its...more

Paul Hastings LLP

SEC Proposes to Formally Rescind Climate-Related Disclosure Rules

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On May 29, the Securities and Exchange Commission proposed to formally rescind its final rules on climate-related disclosure. The proposed rescission is just the latest development in the SEC’s climate-related disclosure...more

Thomas Fox - Compliance Evangelist

FCPA Compliance Report: Data Defensibility: The Foundation of AI Readiness with George Tziahanas

In this episode, Tom Fox welcomes George Tziahanas, VP of Compliance and Associate General Counsel at Archive360, who brings a practical legal and governance perspective to the challenges of AI and data governance. George...more

Morrison & Foerster LLP

SEC Proposes Landmark Rollback of Core Regulation NMS Requirements and Delays Implementation of 2024 Market Structure Reforms

On June 11, 2026, the SEC took two actions that could reshape U.S. equity market structure: 1. The SEC proposed rescinding Rule 611 (the “Trade-Through Rule”) of Regulation NMS, representing the most substantial...more

Thomas Fox - Compliance Evangelist

Daily Compliance News: June 15, 2026 – The SBF Loses His Appeal Edition

Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee, and listen in to the Daily Compliance News....more

Thomas Fox - Compliance Evangelist

Sunday Book Review: June 14, 2026, The Top Books on the Continental Congress Edition

In the Sunday Book Review, Tom Fox considers books that would interest compliance professionals, business executives, or anyone curious. It could be books about business, compliance, history, leadership, current events, or...more

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