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Regulatory Oversight Rulemaking Process Securities Regulation

Nelson Mullins Riley & Scarborough LLP

No Soup for You - SEC Commissioners Revoke Authority of Director of Enforcement to Launch Investigations

In a famous Seinfeld episode, a master soup maker had strict rules for ordering his delicious confections.  A violation of his rules, resulted in “No soup for you!”...more

Paul Hastings LLP

SEC Reportedly Requiring Enforcement Staff to Seek Commission Approval for Formal Orders of Investigation

Paul Hastings LLP on

On February 2, media outlets reported that the Securities and Exchange Commission (SEC or Commission) has told SEC Enforcement attorneys that they need the approval of the agency’s commissioners for all formal orders of...more

Mayer Brown Free Writings + Perspectives

SEC Adopts Amendments to MD&A

The Securities and Exchange Commission continues to move forward with its rulemaking agenda. Yesterday, the SEC announced that it voted to adopt amendments to the MD&A disclosure requirements.  These had been proposed at the...more

Orrick, Herrington & Sutcliffe LLP

SEC Committee Makes Recommendations On Municipal Securities Disclosure Practices

On February 10, 2020, an SEC advisory committee called the Fixed Income Market Structure Advisory Committee (FIMSAC) met and adopted a series of recommendations on the topic “Timeliness of Financial Disclosures in the...more

Orrick - On the Chain

Power of the Peirce: SEC Commissioner Spends Some of Her Influence on Trying to Help Crypto Network Developers

Orrick - On the Chain on

SEC Commissioner Hester Peirce continues to be one of the most vocal persons in leadership positions at federal regulators who are promoting innovation in digital currency and the blockchain....more

Cohen & Gresser LLP

SEC Disclosure Alert: Key Performance Metrics, Financial Reporting and Sustainability

Cohen & Gresser LLP on

On January 30, 2020, the SEC issued guidance on the use of key performance metrics for public companies discussing their financial results and proposed amendments to certain financial reporting requirements. The published...more

Robinson & Cole LLP

SEC’s Proposed Amendments to Financial Disclosure Requirements in Regulation S-K and New Guidance on Metrics in MD&A

Robinson & Cole LLP on

On January 30, 2020, the Securities and Exchange Commission (SEC) announced its proposal to amend certain financial disclosure requirements in Regulation S-K for the purpose of eliminating duplicative disclosures and...more

Kramer Levin Naftalis & Frankel LLP

SEC Proposal To Modernize MD&A Disclosures and Guidance on MD&A Performance Metrics

On Jan. 30, 2020, the SEC proposed amendments to modernize Management’s Discussion and Analysis (MD&A) financial disclosure requirements in Regulation S-K....more

Mayer Brown Free Writings + Perspectives

Disclosure Effectiveness Initiative; Environmental and Climate-Related Disclosures

In remarks last week, Securities and Exchange Commission Chair Clayton discussed the SEC’s proposed amendments to streamline and modernize the requirements for Management’s Discussion and Analysis (MD&A) disclosures.  The...more

Skadden, Arps, Slate, Meagher & Flom LLP

SEC Proposes Amendments To Enhance MD&A Disclosures and Issues New MD&A Interpretative Guidance

The SEC issued documents on January 30, 2020, regarding management discussion and analysis (MD&A) and other disclosures. ...more

Mayer Brown Free Writings + Perspectives

SEC Proposes Amendments to MD&A

The Securities and Exchange Commission yesterday voted to propose amendments to the Regulation S-K requirements for Management’s Discussion and Analysis, or MD&A, and also issued agency guidance relating to MD&A. ...more

Troutman Pepper Locke

Investment Management Update - January 2020

Troutman Pepper Locke on

SEC Proposes to Update Accredited Investor Definition to Increase Access to Investments - On December 18, 2019, the Securities and Exchange Commission (SEC) proposed amendments to the definition of “accredited investor” in...more

Cadwalader, Wickersham & Taft LLP

SEC Proposes Rule Amendments Designed to Expand Access to Private Investment Opportunities

By a 3-2 vote, the Securities and Exchange Commission (the “SEC”) approved the publication of a release on December 18, 2019, generally expanding the scope of the definitions of “accredited investor” in Rule 501(a) of...more

Farrell Fritz, P.C.

Proposed Expansion of “Accredited Investor” Definition Would Benefit Issuers and Investors

Farrell Fritz, P.C. on

The Securities and Exchange Commission is proposing to expand the definition of “accredited investor” to include additional entities that could bear the economic risks of investment and certain financially sophisticated...more

Mayer Brown Free Writings + Perspectives

SEC Approves FINRA Rule 5110 Amendments

Recently, the Securities and Exchange Commission approved FINRA’s proposed amendments to its Corporate Financing Rule, which are intended to modernize, simplify, and streamline the rule....more

Mayer Brown Free Writings + Perspectives

Report on 2019 SEC Government-Business Forum on Small Business Capital Formation Released

The Securities and Exchange Commission released the report from the August 2019 Government-Business Forum on Small Business Capital Formation. The Annual Forum provides an opportunity for market participants to meet and...more

Mayer Brown Free Writings + Perspectives

SEC Chair Clayton Comments on Rulemaking Agenda

Securities and Exchange Commission Chair Jay Clayton made remarks at the University of Pennsylvania, which covered a broad range of topics. Chair Clayton noted that under his tenure the SEC’s Reg Flex agenda has become less...more

Carlton Fields

SEC Expands Manager-of-Managers Relief to Affiliated Sub-Advisers

Carlton Fields on

On May 29, 2019, the SEC granted an exemptive order to Carillon Series Trust and Carillon Tower Advisers Inc. (a Raymond James affiliate) to hire and replace affiliated and unaffiliated sub-advisers without shareholder...more

Carlton Fields

SEC Now May Consider a Simultaneous Settlement Offer and Waiver Request

Carlton Fields on

Certain “bad actors” who settle with the SEC may be subject to automatic disqualifications or collateral consequences under federal securities laws and regulations. The Commission, however, may grant a settling party’s...more

Orrick - On the Chain

Playing Catch-Up: Commissioner Peirce Proposes a Safe Harbor for Certain Token Offerings

Orrick - On the Chain on

SEC Commissioner Hester Peirce has once again earned her title as “Crypto Mom” by expressing support for building a “non-exclusive safe harbor” for the offer and sale of certain cryptocurrency tokens. Peirce explained that...more

Mayer Brown Free Writings + Perspectives

FINRA Corporate Financing Rule Amendment

Earlier this month, FINRA responded to comments submitted regarding proposed amendments to Rule 5110 (see: https://bit.ly/2MlXCU4) and filed an amended proposal with the Securities and Exchange Commission...more

Carlton Fields

Has OMB Reined in the SEC?

Carlton Fields on

An April 11, 2019, Office of Management and Budget Memorandum seeks to bring certain guidance issued by federal agencies, including the SEC, under more effective scrutiny. By its terms, the Memorandum applies to agency rules,...more

Mayer Brown Free Writings + Perspectives

FINRA's Corporate Financing Rule

Recently, FINRA refiled with the SEC proposed rule changes to its Corporate Financing Rule, which is Rule 5110. We had previously posted regarding FINRA’s proposed amendments, which were withdrawn. ...more

Stinson - Corporate & Securities Law Blog

SEC Grants No-Action Letter Finding Certain Tokens Are Not Securities and Publishes Framework on Investment Contract Analysis

Wow, it finally happened. The SEC granted long awaited guidance on when tokens are not securities in the form of a no-action letter. ...more

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