Our Convertible Bonds: An Issuer’s Guide is available to download. The guide has been updated to include a discussion relating to European and US issuers.
The convertible bond market has been active as companies refinance converts issued during the pandemic. Driven by a high interest rate environment and ongoing macroeconomic uncertainty, companies issued over $86
On March 27, 2025, the Securities and Exchange Commission (SEC) voted to end its defense of the climate-related disclosure rules, which, even as scaled back when finally adopted, still would have required fairly substantial disclosures regarding climate-related risks as well as, for certain companies, disclosures relating to greenhouse gas emissions. As a result, agency attorneys
On March 20, 2025, the SEC’s Staff of the Division of Corporation Finance (the “Division”) issued a statement providing its views that crypto mining activities (as defined in its statement) do not involve the offer and sale of securities within the meaning of Section 2(a)(1) of the Securities Act of 1933, as amended (the “Securities
Acting SEC Chair Uyeda spoke at the Institute of International Bankers’ (IIB) Annual Washington DC Conference on March 11, 2025, about the U.S. Treasury markets.
Acting Chair Uyeda discussed the regulation of exchanges. In particular, he discussed the proposed approach that the Securities and Exchange Commission had undertaken under the leadership of former Chair Clayton
On March 3, 2025, the Staff of the Division of Corporation Finance of the Securities and Exchange Commission (the “SEC”) announced a new policy, with immediate effect, expanding the accommodations available for issuers that submit draft registration statements for confidential review. The new enhanced accommodations:
The U.S. Securities and Exchange Commission’s Investor Advisory Committee (the “Committee”) will meet March 6, 2025. During this meeting, the Committee will present its recommendations to the SEC concerning traceability issues under Section 11 of the Securities Act of 1933. The agenda also includes a panel on Artificial Intelligence (AI)-related disclosures and another on retail
Today, the Staff of the Division of Corporation Finance of the Securities and Exchange Commission announced a new policy permitting confidential submission of registration statements in additional circumstances in order to promote capital formation. The statement provides that
On February 28, 2025, House Financial Services Committee Chairman French Hill (R-AR), Senate Banking Committee Chairman Tim Scott (R-SC), and Senator Tom Cotton (R-AR) sent a letter (the “Letter”) to Securities and Exchange Commission (the “Commission”) Acting Chair Mark Uyeda requesting that the Commission launch a comprehensive review of all aspects of the Consolidated Audit
Join us at the Practising Law Institute’s Private Placements and Hybrid Securities Offerings 2025 conference.
This annual conference provides an overview of the legal framework applicable to private and exempt offerings, covering the basics of private placements, resales of restricted securities, Rule 701, Rule 144, Section 4(a)(1-1/2) transactions and block trades, and private secondary transactions.
On February 25, 2025, the SEC extended the compliance dates for Rule 17ad-22(e)(18)(iv)(A) and (B) under the Securities Exchange Act for eligible cash market transactions by one year to December 31, 2026, and for eligible repo market transactions to June 30, 2027. The SEC issued a cancellation notice for its originally scheduled February 26, 2025