News & Analysis as of September 19, 2024

Securities Exchange Act › Bonds

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The Securities Exchance Act is a United States federal statute enacted in 1934 to govern the secondary securities trading market. In addition, the Securities Exchange Act established the Securities and Exchange... more +

The Justice Insiders Podcast: Meet the Securities and Exchange (and Human Resources) Commission

Reminder – T-1 Settlement Starts Tuesday, May 28, 2024

Mintz - Securities & Capital Markets... on 5/29/2024

Starting today, Tuesday, May 28, 2024, the amendments to Securities Exchange Act Rule 15c6-1 take effect, shortening the settlement cycle for most broker-dealer securities transactions to the trade date plus one business day...more

Nutter Securities Enforcement Update: January 1, 2024

Nutter McClennen & Fish LLP on 1/17/2024

The Nutter Securities Enforcement Update is a periodic summary of noteworthy recent securities enforcement activity, settlements, decisions, and charges....more

SEC Sues and Settles Claim Against Investment Adviser Representative For “Cherry-Picking Scheme” After Entry of Cease and Desist...

Goodwin on 9/22/2022

On September 13, 2022, the U.S. Securities and Exchange Commission (“SEC”) announced a settlement with investment advisory firm Buckman Advisory Group LLC (“Buckman Advisory”) and its CEO Harry Buckman Jr. to settle...more

Change of Control Clauses in High Yield: What You Need to Know

White & Case LLP on 4/29/2019

European Leveraged Finance Client Alert Series: Issue 4, 2019 - Most high yield indentures contain a "Change of Control" clause that relates to changes in the beneficial ownership of the issuer. We provide an overview of...more

Volkswagen Bondholders Reliance Allegations Come Under Scrutiny

Mintz - Securities Litigation Viewpoints on 5/25/2018

This case stems from alleged misstatement made by Volkswagen Group of America Finance (“VWGoAF”) in an Offering Memorandum governing the issuance of three sets of bonds. The bonds were offered in private placements with...more

Southern District Of New York Dismisses Exchange Act Claims Based On Exposure To Puerto Rican Bonds For Failure To Sufficiently...

A&O Shearman on 9/12/2017

On September 5, 2017, Judge Richard M. Berman of the United States District Court for the Southern District of New York dismissed a putative class action against Ambac Financial Group, Inc. (“Ambac”), asserting claims under...more

SEC & MSRB’s Pay-to-Play Rule: “Governing Games - Mocking, Part 2”

Burr & Forman on 8/2/2016

This SRO gamesmanship is making a mockery of governing. The latest is the SEC’s position that it didn’t take any action on the new MSRB Rules extending pay-to-play prohibitions to municipal advisors, so it can’t be sued...more

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