Speaking at a recent PLI Investment Management Institute session, Securities and Exchange Commission Division of Investment Management Director Nadia Blass provided a number of insights regarding future rulemaking.  Among other things, Division Director Blass noted some lessons learned as a result of the pandemic.  For example, she noted that during this period, it became evident

As we previously blogged, on April 16, 2020, The Nasdaq Stock Market (“Nasdaq”) announced temporary relief from the bid price and market value of publicly-held shares listing requirements in response to the COVID-19 pandemic. In addition, on May 1, 2020, Nasdaq adopted Nasdaq Rule 5636T, which provided an exception from certain shareholder approval rules for

On July 2, 2020, the Securities and Exchange Commission (the “SEC”) approved, with immediate effectiveness, the New York Stock Exchange’s (“NYSE”) proposal to extend its waiver of the shareholder approval requirements set forth in Section 312.03 of the NYSE Listed Company Manual through September 30, 2020.  As we previously blogged, the SEC initially approved the

On June 30, 2020, Securities and Exchange Commission (“SEC”) Chair Jay Clayton moderated a roundtable concerning pandemic-related disclosure considerations.  The roundtable included Gary Cohn, former Director of the National Economic Council, Glenn Hutchins, co-founder of Silver Lake Partners, Tracy Maitland, President of Advent Capital Management, and Barbara Novick, the Vice Chair of BlackRock.  The Director

On June 26, 2020, the Chair of the Securities and Exchange Commission, joined by the Directors of the Divisions of Corporation Finance, Investment Management and Trading & Markets of the SEC, provided a statement summarizing the SEC’s relief efforts taken in response to the COVID-19 pandemic.  The statement notes that certain relief measures remain necessary,

On June 25, 2020, the staff of the Division of Corporation Finance (the “Staff”) released three temporary statements to assist filers impacted by the COVID-19 pandemic. In the first statement, the Staff indicated it will not recommend enforcement action if the following documents are submitted to the Securities and Exchange Commission (“SEC”) via email in

On June 23, 2020, the Division of Corporation Finance (Division) of the US Securities and Exchange Commission (SEC) issued CF Disclosure Guidance: Topic No. 9A (CF 9A), providing guidance on operations, liquidity, and capital resources disclosures that companies should consider with respect to COVID-19-related disruptions. On that same date, the SEC’s Office of the Chief

Today, Securities and Exchange Commission Chair Jay Clayton testified today in the House of Representatives regarding the SEC’s response to the effects of the COVID-19 pandemic on the markets.  The Chair outlined the SEC’s efforts, including market monitoring and regulatory coordination; guidance and targeted assistance and relief; investor protection, education and outreach efforts; and the

On June 30, 2020, Securities and Exchange Commission Chair Jay Clayton will moderate a roundtable concerning pandemic-related disclosure considerations, which will be livestreamed from the SEC’s website.  The roundtable will include Gary Cohn, former Director of the National Economic Council, Glenn Hutchins, co-founder of Silver Lake Partners, Tracy Maitland, President of Advent Capital Management, and