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Proposed Rules Securities and Exchange Commission (SEC)

Fenwick & West LLP

SEC OKs Nasdaq's Changes to Initial Listing Reqs

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The SEC recently approved Nasdaq’s proposed changes to the initial listing requirements related to liquidity. Nasdaq proposed to change Listing Rules 5405 and 5505 to...more

Eversheds Sutherland (US) LLP

FINRA proposes changes to Rules 5130 and 5131, exempting non-traded BDCs from restrictions on participating in IPOs

On March 20, 2025, the Financial Industry Regulatory Authority, Inc. (FINRA) filed a proposed rule change with the US Securities and Exchange Commission (SEC) to exempt certain business development companies (BDCs) from FINRA...more

SEC Compliance Consultants, Inc. (SEC³)

A New Era for Co-Investments?

The SEC just proposed major updates that could make life easier for BDCs, closed-end funds, and their advisers when it comes to co-investing. Under the proposed relief granted to FS Credit Opportunities Corp., the SEC is...more

Moore & Van Allen PLLC

Acting Chairman Uyeda Suggests Revisiting the Role of State Securities Regulators in Connection with Mid-size Investment Advisers...

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On April 8, 2025, then Acting Chairman Mark T. Uyeda of the U.S. Securities and Exchange Commission (“SEC”), highlighted in remarks before the Annual Conference on Federal and State Securities Cooperation two areas where...more

Seward & Kissel LLP

SEC Easing Conditions for Co-Investment Relief for BDCs and Closed-End Funds

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On April 3, 2025, the U.S. Securities and Exchange Commission (“SEC”) issued a notice of proposed exemptive relief to FS Credit Opportunities Corp. and its affiliates (Applicants), introducing more flexible co-investment...more

DLA Piper

SEC’s Climate Rule Litigation Update: Is it Actually Over?

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The Securities and Exchange Commission (SEC)’s March 27, 2025 decision (the Decision) to withdraw the defense of its landmark climate-related disclosure rules adopted in March of 2024 (the Rules) did not formally pause or...more

K&L Gates LLP

United States: SEC Appears Poised to Bolster Competition on “Y’all Street”

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On 4 April 2025, the Securities and Exchange Commission (SEC) published Texas Stock Exchange’s (TXSE) Form 1 Application and Exhibits, indicating that the SEC intends to grant TXSE’s registration as a national securities...more

Paul Hastings LLP

Daily Financial Regulation Update -- Friday, April 18, 2025

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April 17, 2025 - Federal Reserve Board Governor Michael S. Barr gave a speech entitled, “Deepfakes and the AI Arms Race in Bank Cybersecurity.” April 17, 2025- The Federal Reserve Bank of Boston published an article...more

Eversheds Sutherland (US) LLP

SEC ends defense of climate disclosure rules

On March 27, 2025, the Securities and Exchange Commission (SEC) voted to end its defense of its Enhancement and Standardization of Climate-Related Disclosures for Investors rules in the ongoing Eighth Circuit case Iowa v....more

Ropes & Gray LLP

2025 ICI Investment Management Conference

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The 2025 ICI Investment Management Conference was noteworthy for the change in tone from the SEC officials in attendance, including Acting Chairman Mark Uyeda, as well as IM Director Natasha Greiner, who suggested that there...more

Cooley LLP

President Trump Directs Federal Agencies on How to Repeal ‘Unconstitutional’ Rules

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On April 11, 2025, a new rule went into effect in which the United States government will start to strictly enforce the requirement that foreign nationals register their presence with U.S. Citizenship and Immigration Services...more

Spilman Thomas & Battle, PLLC

Decoded - Technology Law Insights, V 6, Issue 3, April 2025

Welcome to our third issue of 2025 of Decoded - our technology law insights e-newsletter. We hope you enjoy this issue and thank you for reading. SEC may Reverse Proposed Cryptocurrency Custody Rule and Ohio House...more

Proskauer - Regulatory & Compliance

Raising the Bar: SEC Evaluating an Increase in Minimum AUM Threshold for Investment Adviser Registration

On April 8, 2025, Acting SEC Chairman Mark T. Uyeda gave a speech signaling that the SEC may revisit the current minimum assets under management (“AUM”) threshold for federal registration, potentially reducing the number of...more

Maynard Nexsen

Public Company Advisory: Q1 2025 SEC Snapshots

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The members of Maynard Nexsen’s Public Company Advisory Practice counsel public companies and companies aiming to become public on the full range of matters shaping their governance and operation in the public markets. As a...more

Mayer Brown Free Writings + Perspectives

House Financial Services Committee Urges SEC Withdrawal of 14 Proposed and Final Rules

On March 31, 2025, the U.S. House Financial Services Committee (Committee) penned a letter to acting Securities and Exchange Commission (SEC) Chair Mark Uyeda identifying 14 proposed and final rules that, according to the...more

Troutman Pepper Locke

New Texas Stock Exchange Aims at Nasdaq and NYSE

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On April 4, the Texas Stock Exchange's (TXSE) Form 1 application for registration as a national securities exchange was publicly released by the U.S. Securities and Exchange Commission (SEC). The application contains a wealth...more

Eversheds Sutherland (US) LLP

Dual registrant regulatory roundup - April 2025

Welcome to the Regulatory Roundup. Each month, Eversheds Sutherland Investment Services attorneys review significant regulatory developments (including notable rulemakings and guidance from securities regulators) from the...more

K&L Gates LLP

United States: House Committee on Financial Services Urges the SEC to Withdraw Final and Proposed Rules

K&L Gates LLP on

On 31 March 2025, the House Committee on Financial Services (Committee), in a letter to Acting Chairman of the US Securities and Exchange Commission (SEC), Mark Uyeda, identified a series of proposed and adopted rules that...more

Paul Hastings LLP

Daily Financial Regulation Update -- Tuesday, April 8, 2025

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April 4, 2025 - The commissioner of the Department of Financial Protection and Innovation (DFPI) has proposed regulations to implement provisions of the Digital Financial Assets Law and amend the Money Transmission Act....more

Keating Muething & Klekamp PLL

Pay vs. Performance and Cybersecurity Disclosure Rules: Will the SEC Retract Rulemaking?

On March 31, 2025, members of the U.S. House of Representatives Committee on Financial Services sent a letter to Mark Uyeda, Acting Chairman of the U.S. Securities and Exchange Commission. Seeking to “undo the damage from...more

Vedder Price

SEC Provides Helpful Marketing Rule FAQ Guidance

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On March 19, 2025, the Securities and Exchange Commission (“SEC”) updated its frequently asked questions (FAQs) relating to Rule 206(4)-1 under the Investment Advisers Act of 1940 (the “Marketing Rule”). The new FAQs permit...more

Fenwick & West LLP

Acting SEC Chair Outlines Plan to Make IPOs More Attractive

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Acting SEC Chair Mark T. Uyeda outlined potential regulatory changes to make IPOs more attractive and to scale public company disclosures at the Florida Bar’s 41st Annual Federal Securities Institute and M&A Conference. ...more

Fenwick & West LLP

SEC Nixes Climate Disclosure Rules

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On March 27, 2025, the Securities and Exchange Commission voted to end its defense of the climate disclosure rules it adopted last year that would have required publicly traded companies disclose climate-related risks and...more

Proskauer - Regulatory & Compliance

The SEC Votes to “End its Defense” of Climate Change Rules

As previously reported, SEC Asks Court to Put Climate Change Litigation on Hold, the SEC had asked the court to suspend litigation in the U.S. Court of Appeals for the 8th Circuit challenging its new climate change disclosure...more

Foley Hoag LLP - Public Companies & the Law

SEC Expands Confidential Registration Statement Submission Process

On March 3, 2025, the Staff of the SEC Division of Corporate Finance announced an expansion of the accommodations that allow issuers to confidentially submit draft registration statements (DRSs) for nonpublic review. This is...more

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