Sky Blog
The Staff in the Division of Corporation Finance at the U.S. Securities and Exchange Commission has issued three new sets of guidance that may influence and potentially reshape how shareholders engage with companies going forward.
On …
Artificial intelligence (AI) is emerging as a general purpose technology (GPT) with the potential to transform industries. As a result, the potential benefits of AI give firms strong reasons to adopt it – but also provides opportunities to exaggerate their …
With a new administration and Congress each expressing interest in pursuing a new regulatory framework for crypto, the prospects for federal stablecoin legislation are growing. On February 4, Sen. Bill Hagerty (R-TN) introduced the Guiding and Establishing National Innovation for …
Effective and well-designed laws governing investment and financial markets are the single most important foundation for financial markets to allocate capital efficiently while providing optimal reassurance to investors and lenders. Strong empirical evidence shows the United States has a lower …
The Securities and Exchange Commission (SEC) staff recently updated its guidance on circumstances in which investors engaging with issuers on ESG and other matters can file a short-form Schedule 13G as a passive or institutional investor rather than a long-form …
On February 12, the Staff of the SEC Division of Corporation Finance published a new Staff Legal Bulletin No. 14M(“SLB 14M”) regarding the exclusion of Rule 14a-8 shareholder proposals under Rule 14a-8(i)(5) (“economic significance”) and Rule 14a-8(i)(7) (“ordinary business”). …
Dogecoin’s rise to over $1 billion in daily trading volume, much like the dramatic 30 percent spike in Trump Media & Technology Group’s shares following the assassination attempt on now-President Donald Trump, exemplifies the volatile nature of memecoins. These …
With the change in SEC leadership, now is the perfect time for the commission to reevaluate its approach to chief compliance officer (“CCO”) liability. In a new article, I contend that the SEC’s current approach to CCO liability has …
The United States is ushering in a new era of crypto reforms. Only a few days ago, Mark Uyeda, the acting chair of the Securities and Exchange Commission (SEC), announced the formation of the Crypto Task Force to be spearheaded …
China’s corporate law and securities regulation have undergone a series of legislative reforms over the past decade to enhance investor protection and foster market competition.
The comprehensive reform of the People’s Republic of China (PRC) Securities Law in 2019 marked …
On January 13, the U.S. Court of Appeals for the Third Circuit issued an opinion requiring the SEC to provide a more complete explanation for its refusal to engage in formal notice-and-comment rulemaking regarding the application of securities laws to …
Citing the threats posed by foreign adversaries and criminal organizations, and seeking enhanced accountability for companies that provide software and cloud services to the federal government, the Biden administration released a new, sweeping Executive Order (“E.O.”) on cybersecurity, signing the …
On January 15, 2025, the SEC approved, on an accelerated basis, a proposed rule change to amend Section 802.01C of the NYSE’s Listed Company Manual (Manual) to restrict the use of reverse stock splits to regain compliance with NYSE …
In the hunt for wasteful and counterproductive regulatory programs, the SEC’s IPO review process makes for a promising target. In a new paper, I show how this IPO “comment letter” bureaucracy has outlived its original justification and call for …
On October 31, 2024, a Second Circuit panel amended its August 2023 decision in New England Carpenters Guaranteed Annuity & Pension Funds v. DeCarlo after granting a motion for rehearing1 and held that misstatements in an audit opinion may be
In this article, we reflect on key trends in ESG over the second half of 2024 and look ahead at trends that may emerge in 2025.
We …
Securities law often relies on stock exchanges and other self-regulatory organizations (SROs) to create rules that structure markets. The SEC reviews and must approve these rules if the agency finds they meet certain statutory requirements. SROs file over a thousand
Since July 2023, the Commission has brought three cases against special purpose acquisition companies (SPACs) and/or SPAC sponsors, charging them with fraud because they made false and misleading statements regarding the details of their communications with potential target companies. I …
Today [December 20], the Commission adopted amendments on the requirements for large broker-dealers to calculate and segregate their customer balances daily rather than weekly. I am pleased to support this adoption because it helps better protect customers in the event …
As of January 1, 2026, registered investment advisers (RIAs) and exempt reporting advisers (ERAs) will face new regulatory obligations under the Financial Crimes Enforcement Network’s (FinCEN) final rule on anti-money laundering (AML) and countering the financing of terrorism (CFT).[1]…