SEC Considers Proposed Money Market Fund Reforms

By Reynolds Holding December 16, 2021 by renholding

On December 15, the U.S. Securities and Exchange Commission considered amendments to rules that govern money market funds. Commission Chairman Gary Gensler’s statement in support is available here. The statements of commissioners Caroline A. Crenshaw and Allison Herren Lee, also …

SEC Considers Proposals to Enhance Buybacks Disclosure

By Reynolds Holding December 16, 2021 by renholding

On December 15, the U.S. Securities and Exchange Commission considered proposals to enhance disclosure about stock buybacks. Commission Chairman Gary Gensler’s statement supporting the proposals is available here. The statements of commissioners Caroline A. Crenshaw and Allison Herren Lee in …

SEC Considers Proposed Rules About Security-Based Swaps

By Reynolds Holding December 16, 2021 by renholding

On December 15, the U.S. Securities and Exchange Commission considered three proposed rules about the security-based swaps market. Commission Chairman Gary Gensler’s statement in support of the rules is available here. The statements of commissioners Caroline A. Crenshaw and Allison …

Skadden Discusses SEC’s Final Amendments Under Holding Foreign Companies Accountable Act

By Brian V. Breheny, Raquel Fox, Julie Gao, Kenneth W. Chase and Leo W. Chomiak December 15, 2021 by benzonenshayn

On December 2, 2021, the U.S. Securities and Exchange Commission (SEC) adopted final amendments implementing the disclosure and submission requirements of the Holding Foreign Companies Accountable Act (HFCA Act). In addition, the adopting release establishes the SEC’s procedures for (i) …

SEC Chair Gensler Speaks on the Risks of SPACs

By Gary Gensler December 13, 2021 by renholding

Thank you for the kind introduction, Ty [Gellasch]. It’s great to be with the Healthy Markets Association.

As is customary, I’d like to note that my views are my own, and I am not speaking on behalf of my fellow

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SEC Staff Discusses Key Considerations on LIBOR Transition

By Securities and Exchange Commission December 8, 2021 by renholding

[1]This statement is being issued to remind investment professionals of their obligations when recommending LIBOR-linked securities and to remind companies and issuers of asset-backed securities of their disclosure obligations related to the LIBOR transition.[2] This statement follows previous

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SEC’s Accounting Chief on Financial Reporting and the Priorities of His Office

By Paul Munter December 7, 2021 by renholding

The events of the past year bring to mind the old saying that “change is the only constant in life.”[1] Our capital markets continue to evolve and adapt in response to changes in the economic environment, investors’ needs for

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SEC Chair Gensler Speaks Before Investor Advisory Committee

By Gary Gensler December 3, 2021 by renholding

Thank you. It’s good to be back with the Investor Advisory Committee again. As is customary, I will note that my views are my own, and I’m not speaking on behalf of my fellow Commissioners or the staff.

I’d like

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Milbank Discusses SEC Guidance on Shareholder Proposals and the Way to Regulate Climate Change

By Neil Whoriskey November 24, 2021 by renholding

As a result of the SEC’s most recent Staff Legal Bulletin [1] (“SLB”), shareholder proposals that focus on a “significant social policy” will not be excludable simply because the policy issue is not, in fact, “significant” to the company receiving …

Gibson Dunn Discusses SEC Rules Mandating Use of Universal Proxy Card

By Eduardo Gallardo, James J. Moloney and Andrew Kaplan November 22, 2021 by renholding

On November 17, 2021, the Securities and Exchange Commission (SEC) approved amendments to the federal proxy rules to mandate the use of a universal proxy card in public solicitations involving director election contests. After the rules become effective on August …

SEC Announces Enforcement Results for FY 2021

By Securities and Exchange Commission November 19, 2021 by renholding

The Securities and Exchange Commission today [November 18] announced that it filed 434 new enforcement actions in fiscal year 2021, representing a 7 percent increase over the prior year. Seventy percent of these new or “stand-alone” actions involved at least

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SEC Commissioner Crenshaw on Universal Proxy Rules

By Caroline A. Crenshaw November 19, 2021 by renholding

Congratulations to the rulemaking team from the Division of Corporation Finance, as well as the staff within the Division of Economic and Risk Analysis and the Office of the General Counsel. This rulemaking has been several years in the making,

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SEC Commissioner Peirce Dissents on Universal Proxy Rules

By Hester M. Peirce November 19, 2021 by renholding

I support universal proxy, but not today’s version of universal proxy.

Shareholders voting by proxy should be able to split their vote among company and dissident nominees. Allowing shareholders a straightforward way of choosing a mixed slate through a universal

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SEC Commissioner Roisman on Universal Proxy Rules

By Elad L. Roisman November 19, 2021 by renholding

Thank you to the staff who worked on this rulemaking.

I support adopting this rule. I see no compelling reason to prevent shareholders from mixing and matching their votes between a management and dissident slate, given that shareholders who attend

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Regulating via Social Media: Deterrence Eﬀects of the SEC’s Use of Twitter

By Jinjie Lin November 17, 2021 by renholding

Social media is widely used to create, disseminate, and consume information. Today, around seven in 10 U.S. adults use social media.[1] Additionally, more than half of Americans at least occasionally obtain news through social media.[2] In financial markets, …

SEC Commissioner Speaks on ESG Risks and Company Accounting Controls

By Caroline A. Crenshaw November 17, 2021 by renholding

Thank you for the kind introduction Kevin [Gould]. It’s a pleasure to be here today at the annual PepsiCo-PwC CPE conference, which I understand is a tradition going back 18 years now. I appreciate the opportunity to speak, and I

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Debevoise & Plimpton Discusses Federal Regulators’ Focus on AI and Consumer Protection in Finance

By Courtney M. Dankworth, Avi Gesser, Gregory J. Lyons, James B. Amler and Anna R. Gressel November 15, 2021 by renholding

As financial institutions increasingly deploy artificial intelligence (“AI”), including machine learning and automated decision-making technologies, across their business lines, U.S. federal regulators have started to scrutinize the consumer protection implications of these technologies. Most recently, the Department of Justice (“DOJ”), …

SEC Chair Talks Private Equity and Hedge Funds

By Gary Gensler November 12, 2021 by renholding

Thank you. As is customary, I will note that I am not speaking on behalf of the Commission or SEC staff.

Today, I’d like to talk about private funds, and the importance of certain of these funds — in particular, …

Modernizing ESG and Climate Risk Disclosure

By Virginia Harper Ho November 11, 2021 by renholding

On November 3, timed to coincide with the United Nation’s COP26 climate summit in Glasgow, the IFRS Foundation announced prototype global reporting standards for corporate climate and sustainability disclosures, and the formation of the International Sustainability Standards Board (ISSB) to …

SEC Enforcement Chief Speaks on Regulation Outside the U.S.

By Gurbir Grewal November 10, 2021 by renholding

Good morning, everyone and thank you for inviting me to deliver the Scott Friestad Memorial Keynote address. I didn’t have the privilege of knowing Scott, but in my few months as Director, I’ve frequently heard his name, and I’ve noticed

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The CLS Blue Sky Blog

Columbia Law School's Blog on Corporations and the Capital Markets

Securities and Exchange Commission

SEC Considers Proposed Money Market Fund Reforms

SEC Considers Proposals to Enhance Buybacks Disclosure

SEC Considers Proposed Rules About Security-Based Swaps

Skadden Discusses SEC’s Final Amendments Under Holding Foreign Companies Accountable Act

SEC Chair Gensler Speaks on the Risks of SPACs

SEC Staff Discusses Key Considerations on LIBOR Transition

SEC’s Accounting Chief on Financial Reporting and the Priorities of His Office

SEC Chair Gensler Speaks Before Investor Advisory Committee

Milbank Discusses SEC Guidance on Shareholder Proposals and the Way to Regulate Climate Change

Gibson Dunn Discusses SEC Rules Mandating Use of Universal Proxy Card

SEC Announces Enforcement Results for FY 2021

SEC Commissioner Crenshaw on Universal Proxy Rules

SEC Commissioner Peirce Dissents on Universal Proxy Rules

SEC Commissioner Roisman on Universal Proxy Rules

Regulating via Social Media: Deterrence Eﬀects of the SEC’s Use of Twitter

SEC Commissioner Speaks on ESG Risks and Company Accounting Controls

Debevoise & Plimpton Discusses Federal Regulators’ Focus on AI and Consumer Protection in Finance

SEC Chair Talks Private Equity and Hedge Funds

Modernizing ESG and Climate Risk Disclosure

SEC Enforcement Chief Speaks on Regulation Outside the U.S.