Columbia Law School
Sky Blog
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
Securities and Exchange Commission
Wachtell Lipton Discusses SEC Staff’s Move to Limit Exclusion of “Social Policy” Shareholder Proposals
The SEC Staff has issued revised guidance rescinding prior Staff Legal Bulletins addressing the exclusion of Rule 14a-8 shareholder proposals based on the social significance to a company, “micromanagement” or “economic relevance.” The changes will likely facilitate a larger number …
The Dark Side of Information Dissemination
For decades, there has been an important debate over how much securities regulators should focus on protecting small investors. The regulators themselves have generally aimed to create a level playing field among investors, and historically, new technology has been an …
SEC Chair Gensler Speaks at Securities Enforcement Forum
Thank you for having me here today. As is customary, I’d like to note that my views are my own, and I’m not speaking on behalf of the Commission or SEC staff.
In 1934, in his first speech as the
The Supreme Court and the Fraud on the Market Class Action
The class action is indispensable to private enforcement of SEC Rule 10b-5, which prohibits fraudulent practices in the secondary securities market. Though Rule 10b-5 is a criminal provision, courts have long inferred a private civil right of action, allowing defrauded …
SEC Chair Gensler Speaks on Market Structure
Thank you. It’s good to be here at the annual meeting of the Securities Industry and Financial Markets Association — what we all know as SIFMA. John [Rogers], I look forward to your questions.
As is customary, I will note
SEC Commissioner Speaks on the Emerging Challenge of Cybersecurity
Good afternoon. Thank you for the kind introduction and the opportunity to speak to the Los Angeles County Bar Association today. Before I begin, let me issue the standard disclaimer that the views I share are my own and do
ISS Discusses Why the Enron Scandal Still Matters to Investors After 20 Years
In what is still regarded as the largest U.S. corporate fraud in history, the Enron scandal “celebrates” its 20th anniversary this month.
It was October 16, 2001 when Enron announced a $638 million third quarter loss, confirming a handful of …
Top Justice Department Official on Stepping Up Corporate Enforcement
I think these events [the Global Investigations Review conference: New York] are an important opportunity for discussion of trends and really this area is one where your work, your advice to clients, changes the way that people behave. And it …
SPACs: The Roles of Reputation and Disclosure When Information Is Limited
Special purposes acquisition corporations (also known as SPACs or blank check companies) have received a lot of attention recently – and for good reason. SPACs accounted for more than half of U.S. IPOs in 2020, raising over $70 billion in …
Sullivan & Cromwell Discusses White House Roadmap to Address Climate-Related Financial Risk
SEC Chair Gensler Speaks on Fintech
Good morning. It’s good to be here at DC Fintech Week. Thank you, Chris [Brummer], and all the organizers for inviting me here today. As is customary, I’d like to note that my remarks are my own, and I’m not
SEC Commissioners Discuss Report on “Meme Stock” Episode
Today [October18], the staff issued a report on the so called “meme stock” episode that occurred this past January. We would like to thank the staff not only for their hard work on this report, but also for keeping the …
Management Guidance Withdrawals During the Pandemic
The novel coronavirus (COVID-19) pandemic has drastically affected the global economy and offers a unique setting to investigate firm and market behavior through periods of heightened economic uncertainty. During the pandemic, many U.S. public firms withdrew their quarterly and annual …
Skadden Discusses Government Expectations for Companies’ Data-Driven Compliance Programs
As artificial intelligence and other data tools have proliferated, regulators and prosecutors expect companies to utilize sophisticated data analytics as part of their compliance programs. They also expect directors to take an active role, understanding and overseeing these data-driven compliance …
SEC Chair Gensler Speaks on Clawbacks of Erroneously Awarded Compensation
I support today’s [October 14] action to re-open comment on the Dodd-Frank Act rule regarding clawbacks of erroneously awarded incentive-based compensation. I believe we have an opportunity to strengthen the transparency and quality of corporate financial statements as well as
SEC Chair Gensler Speaks About Digital Analytics in Finance
Thank you. I’m happy to appear at SEC Speaks for the first time as Chair of the Securities and Exchange Commission.
This event provides great continuing legal education to lawyers, accountants, and other market professionals. It also gives a platform
New SEC Enforcement Director Speaks on Promoting Market Integrity
Thank you for that introduction and for having me here today. At the Division of Enforcement, ensuring that broker-dealers and associated individuals follow our laws and regulations is critical to our mission, so it’s only fitting that my first speech
The Price of Your Vote: Proxy Choice and Securities Lending
On October 7, 2021, BlackRock announced that, beginning in 2022, institutional clients would have the opportunity to direct the voting of shares held by index funds. Some commentators heralded this change as “a catalyst for others in [the investment management] …
Sullivan & Cromwell Discusses SEC Proposal to Enhance Proxy Voting Disclosure by Investment Funds
On September 29, 2021, the SEC issued a proposed rulemaking to enhance the information mutual funds, exchange-traded funds and other registered management investment companies (“funds”) report annually about their proxy votes. The proposal also would require so-called “institutional investment managers” …