Sky Blog
On September 15, the Clarity Act failed to secure a cloture vote in the U.S. Senate, with four Republicans and all 47 Democrats voting against considering the bill at this time. The Act may come back to life again next …
Investment in private assets continues to grow, including for an increasing number of registrants that are required to subsequently measure these investments at fair value, such as registered closed-end funds, interval funds, tender offer funds, business development companies and private …
On September 12, 2026, Anthropic CEO Dario Amodei called for coordinated limits on the pace of frontier-AI development, with government support to address antitrust constraints. Sam Altman (OpenAI), Demis Hassabis (Google DeepMind), and Elon Musk (SpaceXAI) publicly supported the proposal’s …
On September 11, 2026, the Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Federal Reserve Board), Federal Deposit Insurance Corporation (FDIC) and National Credit Union Administration (collectively, the “agencies”) jointly issued proposed …
Anthropic, a public benefit corporation (PBC), continues to offer food for thought on corporate governance and its mission to develop AI responsibly and for the long-term benefit of humanity. The frontier AI laboratory is preparing to enter public markets with …
Good morning, ladies and gentlemen. And thank you for joining us today for this public meeting of the Securities and Exchange Commission under the Government in the Sunshine Act.
We have three items on today’s agenda. First, the Commission will …
In a recent article, we argue that chapter 11 fundamentally changes the corporate-governance regime applicable to a business, but that courts and practitioners have largely failed to recognize the significance of that change. Although corporate law ordinarily is a …
On September 17, 2026, the U.S. Securities and Exchange Commission (“SEC”) issued an order (sometimes referred to as the “Innovation Exemption”) to address some questions on how to trade public company stock using distributed ledger technology – in other words, …
On September 16, the Securities and Exchange Commission proposed to rescind Rule 14a-8, the SEC rule that lets a shareholder holding as little as $2,000 of stock place a proposal in a company’s proxy statement, at the company’s expense, for …
On September 17, 2026, the U.S. Securities and Exchange Commission (SEC) took a significant step toward integrating tokenized securities into the U.S. equities market by issuing the long-awaited “Innovation Exemption.” The exemption creates a temporary framework that allows certain tokenized …
This week, professional sports crossed a threshold it had never crossed before. CME Group, the world’s largest derivatives exchange, began listing futures contracts on all 32 National Hockey League (NHL) teams.[1] These are not bets on who wins a …
On September 3, 2026, the Securities and Exchange Commission (SEC) issued a proposal (the Proposal) to rescind Rule 206(4)-5, commonly referred to as the Pay-to-Play Rule (the Rule), in its entirety, eliminating the two-year time-out on compensated advisory services to …
Forests, fisheries, freshwater, and biodiversity are not only environmental resources. They also support economic activity and growth. When these natural assets deteriorate, the consequences can ripple through the economy and potentially affect the cost of government financing.
Governments are central …
On August 31, 2026, the California Legislature unanimously passed Senate Bill 574, a “first-in-the-nation” law that would establish statutory requirements governing the use of generative artificial intelligence by attorneys, arbitrators, judicial officers, and alternative dispute resolution providers.[1] The bill …
AI is having a clear impact on investor relations as corporate issuers tap AI for stress-testing messaging and benchmarking shareholder proposals, while taking a gradual approach before handing over IR to HAL.
This is according to a new survey by …
In the Iliad and the Odyssey, heroes are only what society says they are. What constrains the likes of Achilles and Odysseus, then, is not fear of the gods or some codified prohibitions, but models of honor and the gaze …
On September 2, 2026, the staff of the SEC’s Division of Corporation Finance issued three new interpretations addressing when a shareholder reporting beneficial ownership on Schedule 13G may engage with an issuer or with participants in a proxy contest without …
In a new paper, we examine whether the gender composition of companies’ boards affects the Securities and Exchange Commission’s (SEC’s) decision to investigate those companies and, ultimately, to pursue regulatory enforcement.
We consider three related reasons why firms with more …
Last year, we identified ten trends that we expected to shape shareholder activism in 2026. Those trends included: increasing M&A-focused activism, emboldened occasional activists, less visibility into shareholder views, the normalization of serving as a dissident nominee, and more “withhold” …