News & Analysis as of

Initial Public Offering (IPO) Disclosure Requirements Securities Exchange Act of 1934

ArentFox Schiff

SEC Expands Accommodations for Reviewing Nonpublic Registration Statements

ArentFox Schiff on

On March 3, the US Securities and Exchange Commission’s (SEC) Division of Corporation Finance announced that it is expanding the accommodations available to issuers submitting nonpublic draft registration statements for staff...more

White & Case LLP

The SEC’s Charges Against SolarWinds and its Chief Information Security Officer Provide Important Cybersecurity Lessons for Public...

White & Case LLP on

On October 30, 2023, the US Securities and Exchange Commission ("SEC") announced that it filed charges against SolarWinds Corp. ("SolarWinds" or the "Company") and its Chief Information Security Officer ("CISO") in connection...more

Proskauer Rose LLP

SEC Strengthens Regulation 13D-G Rules for Beneficial Ownership Reporting

Proskauer Rose LLP on

On October 10, 2023, the Securities and Exchange Commission adopted amendments to the rules governing beneficial ownership reporting under Sections 13(d) and 13(g) of the Securities Exchange Act of 1934. The adopting release...more

Harris Beach Murtha PLLC

E.V. Manufacturer Cruises to Victory on Appeal with Specific, Robust Disclosures

Harris Beach Murtha PLLC on

New York’s Appellate Division, First Department recently affirmed dismissal, with prejudice, of a securities class action lawsuit against Chinese electric vehicle manufacturer NIO, Inc. The suit, captioned Donlon v. NIO,...more

Pillsbury Winthrop Shaw Pittman LLP

SEC Releases Proposed Rules Targeting SPACs, Shell Companies and De-SPAC Transactions

Rule proposals, if adopted, would more closely align de-SPAC mergers with traditional IPOs with respect to disclosure requirements, marketing practices, and gatekeeper obligations. Proposed Rules would significantly...more

Pillsbury Winthrop Shaw Pittman LLP

The Beginning of the SPAC Enforcement Wave: SEC Makes Example of SPAC for Spacing out on Diligence

Chair Gensler’s enforcement agenda begins to take shape as SEC brings sprawling enforcement action against wide range of SPAC participants. Consistent with prior SEC warnings regarding incentives for Special Purpose...more

Pillsbury Winthrop Shaw Pittman LLP

SEC Streamlines Financial Disclosure Requirements under Regulation S-K for Reporting Companies

The amendments are designed to increase focus on material information while simplifying compliance efforts. The amendments eliminate the five-year selected financial data requirement, limit selected quarterly financial...more

Vinson & Elkins LLP

Third Time’s A Charm! SEC Finally Approves New Rule Requiring Mining, Gas, And Oil Firms To Disclose Government Payments

Vinson & Elkins LLP on

On December 16, 2020, the SEC passed a new rule which will require publicly traded companies operating in the oil and gas industries to disclose payments that they make to foreign governments. The SEC voted to adopt rules...more

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