Sky Blog
The corporate purpose debate pits shareholder profit maximization (SPM) against stakeholderism: Corporations should only serve the financial interests of their shareholders versus corporations should also serve the interests of other stakeholders. Other stakeholder interests prominently include environmental, social, and governance …
Bank stocks surged the day after Donald J. Trump won election to a second presidential term, recording double-digit gains on a widespread view that financial regulation under the new administration will be more industry friendly than in the current one. …
On October 21, 2024, the US Securities and Exchange Commission (“SEC”) Division of Examinations (“Examination Division”) announced its 2025 Examination Priorities (“Report”). Investment advisers and broker-dealers should ensure that policies, procedures and surveillance efforts related to these priorities address concerns …
I’d like to take the opportunity today to reflect on some of the goals and intentions that then-Director Gurbir Grewal and I, as his deputy, discussed when we assumed leadership of this remarkable Division three-plus years ago, and what I …
With the change of administrations in January 2025, antitrust enforcement priorities are likely to shift next year. We expect the Antitrust Division of the Department of Justice (DOJ) and Federal Trade Commission (FTC) in the Trump Administration to continue to …
In May 2023, the SEC adopted new disclosure rules on company stock buybacks (“New Disclosures”) to help investors better evaluate whether the buybacks serve management’s personal interest at the expense of the company and its shareholders. The New Disclosures would …
For the first time, the U.S. Commodity Futures Trading Commission (the “CFTC”) initiated enforcement actions against a carbon credit project developer and two of its executives for violating the antifraud provisions of the Commodity Exchange Act (the “CEA”) and CFTC …
On October 16, 2024, the U.S. Federal Trade Commission (FTC) announced that it has finalized its new Negative Option Rule (Rule), which represents a significant expansion of its 1973 Negative Option Rule and is guaranteed to have a far-reaching impact …
Although we use money every day, few of us really understand it. Most define it by its most obvious manifestation – government-issued paper certificates or coins that specify units of currency, such as dollars or euros. But that superficial definition …
High-quality information and managers are essential to firms’ success, with the former allowing firms to accurately evaluate prospective investments and the latter helping to ensure those investments pay off. Yet the value of information and managers to a firm are …
The legal world is no stranger to technological advancements, but the surge in artificial intelligence (AI) capabilities has sparked a movement that is reaching even law reviews. Every submission cycle, Scholastica – the largest platform for law-review submissions – releases …
Columbia Law School Professor Allan Farnsworth once confidently asserted that common law contract “doctrines, imaginatively applied, are both all that are needed and all that are desirable” to protect participants in preliminary contract negotiations and agreements (what I refer to …
What is the role of corporations in the fight against racism? In 2020, following the murders of George Floyd and Breonna Taylor, many corporations publicly embraced racial equity and expressed their support for the Black Lives Matter (BLM) movement and …
Voluntary carbon markets (VCMs) enable firms to offset their emissions by purchasing and retiring carbon-offset credits issued by third-party project developers. As nations and corporations increasingly commit to combating climate change, VCMs have emerged as a tool to support global …
Following a long and somewhat sleepy existence on the margins of contractual interpretation case law, force majeure clauses (“FMCs”) found themselves subject to a rude awakening with the global onset of COVID in 2020, and consequent interruptions to …
Copyright law, as it relates to Artificial Intelligence (“AI”), is at a crossroads. Rapid innovation in AI has created a great deal of uncertainty regarding whether popular AI platforms infringe copyright. More than a dozen1 suits are pending across …
The recent California district court decision dismissing the complaint in X Corp. v. Bright Data Ltd. could have significant implications for companies that rely on their terms of use to prohibit unauthorized “data scraping” — that is, using automated tools …
On April 24, 2024, President Biden signed into law the 21st Century Peace through Strength Act (the Act) as part of a broader foreign aid package providing funding to Taiwan, Ukraine, and Israel. The Act combines a series of unrelated …
On April 24, President Biden signed a sweeping foreign aid bill into law, which included a critical provision covering privacy and data transfers known as the Protecting Americans’ Data from Foreign Adversaries Act (“PADFA”). This Act is separate from the …
On April 4, 2024, the Federal Register published the U.S. Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency’s (“CISA”) notice of proposed rulemaking, including the text of the proposed regulation that would implement the key provisions of the Cyber …