Sky Blog
In advanced economies, the regulation of corporate governance during initial public offerings (IPOs) is used increasingly as a capital markets policy instrument. As public listings declined, private-equity financing grew, and regulatory competition intensified, lawmakers reconsidered the role of mandatory …
Convertible notes issuances have been surging in the last few years to a market size of approximately $300 billion. The increased activity has been bolstered by the high-interest rate environment, favorable equity market dynamics and macro uncertainty. Secular growth trends …
As part of an effort to provide greater clarity on the application of the federal securities laws to crypto assets,[1] the Division of Corporation Finance, Division of Investment Management, and Division of Trading and Markets are providing their views…
Key Points:
Since 1982, Regulation S-K has been the Commission’s central repository for filer disclosure requirements outside of the financial statements. Over the past forty-plus years, that repository has grown from the size of a gym locker to the size of an …
Environmental sustainability has become a cornerstone of modern corporate responsibility. Yet, a troubling trend lies beneath the glossy reports and bold claims: greenwashing, a way for companies to build a fake eco-friendly image.
Greenwashing is more than just misleading marketing. …
On November 12, 2025, the U.S. Department of Justice (“DOJ”) announced the launch of a cross-agency strike force targeting the type of cryptocurrency-related scam known as pig butchering.[1] For companies involved in digital asset transactions, this enforcement initiative carries …
The shareholder proposal mechanism under SEC Rule 14a‑8 occupies a distinctive position in U.S. corporate governance. Created in 1942 as part of the federal proxy system, it enables shareholders to express views on corporate policy while leaving decision-making authority with …
In Augenbaum v. Anson Investment Master Fund LP et al., the Southern District of New York recently denied a motion to dismiss in a case seeking short-swing profit disgorgement relating to trades that generated ~$500 million by an alleged …
Regulators, investors, and academics generally agree on the main goal of strong SEC oversight: to improve financial reporting, which helps markets allocate capital and promotes market efficiency. But this goal prompts a question that matters for corporate governance and long-run …
On December 18, 2025, President Trump signed into law the National Defense Authorization Act for Fiscal Year 2026 (the “2026 NDAA”),which includes the Holding Foreign Insiders Accountable Act. The Holding Foreign Insiders Accountable Act amends Section 16(a) of the …
The federal securities laws establish the authority of the Securities and Exchange Commission (“SEC” or “Commission”) to set accounting, auditing, and auditor independence standards to be followed in the preparation and the audit of the financial statements of public companies. …
In November 2021, the Securities and Exchange Commission issued Staff Legal Bulletin 14L (“SLB 14L”), making it easier for shareholders to place environmental and social proposals on corporate ballots. The move was hailed by advocates for the environment as a …
Climate-related reporting continues to be a controversial topic. The U.S. Securities and Exchange Commission has withdrawn its defense of enhanced climate-related disclosures, the European Commission is debating how to scale back mandatory sustainability reporting requirements under its Omnibus revisions, …
Good afternoon, ladies and gentlemen, and thank you for joining us. Let me first begin by thanking Commissioner Hester Peirce and the entire Crypto Task Force for organizing today’s [December 15] roundtable. I should also like to thank our distinguished …
On November 20, SEC Commissioner Mark Uyeda called for the opening of 401(k) retirement savings to private markets. He observed that diversification has grown increasingly difficult to achieve through public securities alone, and that private investments (in structures such as …
With new leadership under the Trump administration, the Securities and Exchange Commission (“SEC”) is charting a course that promises significant changes in the regulation of securities disclosures and capital markets. In this alert, we discuss several important trends and developments …
On December 11, President Trump signed an Executive Order titled “Protecting American Investors from Foreign‑Owned and Politically‑Motivated Proxy Advisors” (the “Order”). The Order focuses on the “enormous influence” of proxy advisory firms, particularly Institutional Shareholder Services, Inc. (“ISS”) …
Today [December 11] the Financial Stability Oversight Council (FSOC) received a briefing from Treasury staff on potential revisions to the Council’s interpretative guidance regarding nonbank financial company determinations. And I was especially encouraged to see revising the non-bank designation guidance …
Good morning and thank you Aaron [Klein]. It is a pleasure to be here this morning. While this isn’t a “farewell address,” I hope you will indulge me if I take the opportunity to reflect a little bit on what …