Shadow SEC Statement No. 5

By John Coates, John C. Coffee, Jr., James D. Cox, Merritt B. Fox and Joel Seligman July 3, 2025 by renholding

Last month, we circulated Shadow SEC Statement No. 4, which urged caution in legislating major changes in the Public Company Accounting Oversight Board (“PCAOB”) or its funding. The Senate nonetheless took up a bill that would have transferred the PCAOB’s …

SEC Chair Testifies Before Senate Appropriations Subcommittee on Financial Services

By Paul S. Atkins June 4, 2025 by renholding

Chairman Hagerty, Ranking Member Reed, and members of the Subcommittee. Thank you for inviting me to testify today.[1]

I am grateful for the opportunity to discuss the Securities and Exchange Commission, including our important mission on behalf of our

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SEC Chair Testifies Before U.S. Senate Committee on Banking, Housing, and Urban Affairs

By Gary Gensler September 13, 2023 by renholding

Good morning, Chairman Brown, Ranking Member Scott, and members of the Committee. Thank you for inviting me to testify today. As is customary, I’d like to note that my views are my own as Chair of the Securities and Exchange

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Wachtell Lipton Discusses Antitrust and ESG

By Adam O. Emmerich, Jonathan M. Moses, Damian G. Didden and Sabastian V. Niles January 18, 2023 by renholding

As boards continue to evaluate how environmental, social and governance (“ESG”) considerations factor into corporate operations, some lawmakers and regulators have raised potential antitrust concerns about coordinated efforts. For example, several U.S. Senators sent letters to law firms admonishing them …

Davis Polk Discusses What’s Missing from Bipartisan Bills to Regulate Crypto

By Joseph A. Hall, Dan Gibbons, Gabriel D. Rosenberg and Zachary J. Zweihorn August 15, 2022 by renholding

In the last few weeks, two bills with the potential to bring needed regulatory certainty to the U.S. digital asset industry were introduced in the Senate with solid bipartisan backing.

In June, Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) …

SEC Chair Delivers Testimony on Oversight to U.S. Senate Banking, Housing, and Urban Affairs Committee

By Jay Clayton December 11, 2019 by renholding

Chairman Crapo, Ranking Member Brown and Senators of the Committee, thank you for the opportunity to testify before you today about the work of the U.S. Securities and Exchange Commission (SEC or Commission or agency).[1] I am honored to

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Skadden Discusses Latest Legislation to Expand Foreign Investment Review

By Pascal Bine, Michael E. Leiter, Ivan A. Schlager, Donald L. Vieira, Jonathan M. Gafni and Michelle A. Weinbaum July 9, 2018 by renholding

In large part as a response to China’s national industrial goals and subsequent Chinese acquisitions of U.S. and European companies that are technology leaders in key industries, the U.S. government and a number of European governments are seeking to expand …

Blue Sky Banter Podcast: SEC’s Robert Jackson on Dual Class Shares and More

By Reynolds Holding April 19, 2018 by renholding

Robert Jackson, a commissioner of the U.S. Securities and Exchange Commission and a former professor at Columbia Law School, speaks with Reynolds Holding about becoming a commissioner, the problem of perpetual dual class stock, and what the commission can do

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SEC Chair Clayton Testifies About Virtual Currencies

By Jay Clayton February 8, 2018 by renholding

Chairman Crapo, Ranking Member Brown and distinguished senators of the Committee, thank you for the opportunity to testify before you today.[1] I am pleased that the Committee is holding this hearing to bring greater focus to the important issues …

Senate Goes Back to the Future on Arbitration

By Richard A. Booth December 5, 2017 by renholding

In the movie Office Space, the (pretty) good guys hatch a plan to divert to themselves fractions of cents that their employer, Initech, has apparently been overcharging its customers by rounding billings upward. Had any customer discovered the scam, he …

Mutual Funds and the Regulatory Capture of the SEC

By Stewart L. Brown November 29, 2016 by renholding

Regulatory agencies are created to act in the public interest but often end up acting in the interests of those regulated. This is known as regulatory capture. The theory of regulatory capture may be given both a broad and narrow …

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