After years of denials, the SEC has finally approved its first Bitcoin spot ETFs. Reaching this point has involved legal battles, repeated reviews of applications, and much more....more
Recently, the U.S. Supreme Court agreed to revisit one of its most significant rulings affecting administrative rules and regulations by granting cert in the matter Loper Bright Enterprises v. Raimondo. The court's decision...more
In the latest chapter of the high-profile SEC v. Ripple Labs, Inc., et. al. litigation, the SEC revisits its prior attempt to strike down the defendants' due process affirmative defense. Nearly a year after the SEC failed to...more
The government's focus on clawbacks is at a fever pitch. At the Practicing Law Institute's SEC Speaks conference earlier this month, senior officials within the SEC's Division of Enforcement emphasized the agency's increasing...more
When it comes to the federal securities laws, clear answers can occasionally be hard to find. There may be no better example than the question around the overlap of the "misstatement liability" and "scheme liability"...more
On October 18, 2019, the US Securities and Exchange Commission (the “SEC”) announced that it had voted to propose rule amendments intended to improve the efficiency of the exemptive application review procedures available...more
In a much-anticipated decision, on April 30, 2019, the US Court of Appeals for the District of Columbia Circuit issued its decision in Robare, a case that concerned an investment adviser’s (IA) disclosure of conflicts of...more
When I served as Commissioner of Corporations for the State of California, I was sometimes asked about the other Commissioners. However, I never concerned myself with the “other Commissioners” because there were no other...more
I. Introduction - a. Legislative history of the Securities Act of 19331 (“Securities Act”) and the Securities Exchange Act of 19342 (“Exchange Act” and collectively, the “Acts”). ..i. Congress passed the Acts...more
Day 2 at Gettysburg saw the fighting swing south of the village, along a ridge line that formed a fishhook at its end on an outcropping called the Little Round Top....more