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Administrative Procedure Act Disclosure Requirements Securities and Exchange Commission (SEC)

Kramer Levin Naftalis & Frankel LLP

SEC Abandons Climate-Related Disclosure Litigation — What Next?

The Securities and Exchange Commission (SEC) recently informed the U.S. Court of Appeals for the Eighth Circuit that it will no longer defend its March 6, 2024, rule requiring that companies disclose climate-related risks and...more

Cooley LLP

Commissioner Crenshaw decries SEC action pulling the plug on defense of climate disclosure rules

Cooley LLP on

As reported in this PubCo post, the SEC announced yesterday that it was ending its “defense of the rules requiring disclosure of climate-related risks and greenhouse gas emissions”—the climate disclosure rules. In response to...more

K&L Gates LLP

United States: Unsustainable—Acting SEC Chairman Signals Reconsideration of Climate Risk Disclosure Rules

K&L Gates LLP on

In March 2024, the SEC adopted The Enhancement and Standardization of Climate-Related Disclosures for Investors final rule, which required companies to make disclosures regarding climate risks and disclosures of Scope 1 and 2...more

DLA Piper

SEC Climate Disclosure Rules: Four Potential Paths Under President Trump

DLA Piper on

The US Securities and Exchange Commission (SEC) adopted landmark final rules (Climate Disclosure Rules, or Rules) in March 2024 intended to enhance and standardize climate-related disclosures for publicly listed companies....more

Wiley Rein LLP

Fifth Circuit Overturns SEC Approval of Nasdaq’s Board Diversity Rules

Wiley Rein LLP on

On December 11, 2024, the United States Court of Appeals for the Fifth Circuit, in a lengthy opinion, vacated the U.S. Securities and Exchange Commission’s (SEC) approval of Nasdaq’s board diversity rules in Alliance for Fair...more

Fenwick & West LLP

SEC Files Brief in Support of Climate Disclosure Rules

Fenwick & West LLP on

On August 6, the SEC filed its much-anticipated legal brief in the Eighth Circuit Court of Appeals supporting its controversial Climate Rules and responding to the arguments laid out in petitioners’ consolidated petitions for...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

DEI Under Scrutiny, Part XI: Fifth Circuit Reconsiders Nasdaq’s Board Diversity Rule

The U.S. Court of Appeals for the Fifth Circuit will likely weigh in soon on the U.S. Securities and Exchange Commission’s (SEC) approval of Nasdaq’s board diversity rule that will require listed companies to disclose...more

Carlton Fields

Courts May Call “Lane Violation” on Recent SEC Actions

Carlton Fields on

With increasing frequency, petitioners representing the securities industry are asking courts to decide that rules adopted by the SEC exceed the agency’s authority, even when the rules have barely left the starting blocks....more

Quarles & Brady LLP

SEC Issues an Administrative Stay of its Climate Disclosure Rules

Quarles & Brady LLP on

On March 6, 2024, the Securities and Exchange Commission (SEC or the Commission) finalized its long-awaited climate disclosure rules on a party-line 3-2 vote. We previously provided a summary of the content of that final...more

Latham & Watkins LLP

The Case Against SEC Final Climate Rules Begins in Earnest

Latham & Watkins LLP on

The Eighth Circuit is poised to determine the fate of the SEC’s final climate regulation, potentially by the end of the year. On March 21, 2024, the US Court of Appeals for the Eighth Circuit was selected as the court that...more

Mayer Brown Free Writings + Perspectives

SEC Stays Climate-Related Disclosure Rules

The SEC paused implementation of the climate-related disclosure rules in the face of significant legal challenges.  The rules would impose substantial disclosure mandates on companies, including concerning the costs of...more

ArentFox Schiff

Three Cases Highlight the Importance of Judicial Branch Procedural Rules in Resolving Policy Disputes

ArentFox Schiff on

Policy debates normally focus on substance. Is climate change real? How can business entities weigh environmental, social, and governance (ESG) factors into their decision-making? ...more

Cozen O'Connor

SEC Adopts Final Rule for Enhancement and Standardization of Climate-Related Disclosures

Cozen O'Connor on

On March 6, 2024, almost two years after the Securities and Exchange Commission’s (SEC) proposed amendments “to enhance and standardize climate-related disclosures for investors,” the SEC adopted a final rule on...more

Latham & Watkins LLP

Fifth Circuit Presses Pause on SEC’s Final Climate Regulation

Latham & Watkins LLP on

The court’s decision is the latest development in the litigation over the SEC’s final rules, which have faced numerous legal challenges since their adoption. On March 15, 2024, the US Court of Appeals for the Fifth Circuit...more

Latham & Watkins LLP

Court Invalidates SEC's Share Repurchase Disclosure Requirements

Latham & Watkins LLP on

On November 22, 2023, the SEC postponed its new share repurchase disclosure rules in response to an adverse decision by the Fifth Circuit Court of Appeals in a case challenging those rules under the Administrative Procedure...more

Dorsey & Whitney LLP

Fifth Circuit Vacates SEC Rules for Share Repurchase Disclosure

Dorsey & Whitney LLP on

We had previously reported that beginning with the next annual report on Form 10-K, most US-listed issuers would be required to make more extensive disclosures on their share repurchase programs and insider transactions...more

Mintz - Securities & Capital Markets...

Court Vacates SEC’s New Share Repurchase Disclosure Rules

On December 19, 2023, the US Court of Appeals for the Fifth Circuit vacated the Securities and Exchange Commission’s (SEC) share repurchase disclosure rules, which were adopted in May 2023 and became effective on July 31,...more

Foley Hoag LLP - Public Companies & the Law

Fifth Circuit Vacates SEC Buyback Disclosure Rule

On December 19, 2023, the Fifth Circuit Court of Appeals vacated the SEC’s share repurchase disclosure rule, which required issuers to: (i) report daily aggregate share repurchase data on a quarterly basis, (ii) indicate if...more

Morrison & Foerster LLP

Fifth Circuit Court of Appeals Vacates U.S. SEC Share Repurchase Rule

Morrison & Foerster LLP on

On December 19, 2023, the Fifth Circuit Court of Appeals issued an opinion and judgment vacating (the “Judgment”) the U.S. Securities and Exchange Commission’s (SEC) Share Repurchase Disclosure Modernization rule (the...more

Troutman Pepper Locke

SEC Unable to Correct Defects of Share Repurchase Disclosure Modernization Rule

Troutman Pepper Locke on

On November 22, the Securities and Exchange Commission (SEC) issued an order postponing the Share Repurchase Disclosure Modernization Rule (the Repurchase Rule). The SEC’s announcement followed the U.S. Court of Appeals for...more

King & Spalding

New Share Repurchase Rules on Ice Following Fifth Circuit Decision

King & Spalding on

As a result of a recent decision by the Fifth Circuit Court of Appeals, the SEC’s previously adopted Share Repurchase Disclosure Modernization Rule has been put on hold. While the SEC may appeal the final decision (if and...more

Troutman Pepper Locke

SEC Postpones Effective Date of Share Repurchase Disclosure Modernization Rule

Troutman Pepper Locke on

On November 22, the Securities and Exchange Commission (SEC) issued an order postponing the Share Repurchase Disclosure Modernization Rule (the Repurchase Rule). The SEC’s announcement follows the U.S. Court of Appeals for...more

BCLP

Fifth Circuit Panel Rejects Sec Request for Additional Time to Substantiate New Stock Repurchase Disclosure Rules

BCLP on

As readers may recall, on October 31, 2023 the Fifth Circuit Court of Appeals in Chamber of Commerce v. SEC ruled that the SEC acted arbitrarily and capriciously, in violation of the Administrative Procedure Act, when it...more

Bass, Berry & Sims PLC

SEC Stays Repurchase Disclosure Rules and the Fifth Circuit Denies SEC’s Motion for Additional Time to Cure Rule Defects

Bass, Berry & Sims PLC on

On November 22, the Securities and Exchange Commission (SEC) stayed the recently enacted Share Repurchase Disclosure Modernization Rule (Repurchase Disclosure Rule) pursuant to section 705 of the Administrative Procedure Act...more

Cooley LLP

Fifth Circuit denies SEC request for more time to cure defects in share repurchase rule

Cooley LLP on

You might recall that, on Halloween, the Fifth Circuit issued an opinion in Chamber of Commerce of the USA v. SEC, granting the Chamber’s petition for review of the Share Repurchase Disclosure Modernization rule. The Court...more

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