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The Securities and Exchange Commission will host an open meeting on March 22, 2023 at 10 a.m, which will be open to the public via webcast on the SEC website.  The Division of Investment Management will present on Enhancing Private Fund Reporting.  The Commission will consider whether to adopt amendments to Form PF, the…

The Securities and Exchange Commission recently announced a settlement with Oregon-based freight transportation supply company, The Greenbrier Companies Inc., and founder and former CEO and Chairman, William A. Furman, for (i) failing to disclose perks provided to Furman and certain other Greenbrier executives, and (ii) failing to disclose compensation Furman received from Greenbrier’s use and…

Securities and Exchange Commission Chair Gensler released a succinct statement on March 12, 2023:  “In times of increased volatility and uncertainty, we at the SEC are particularly focused on monitoring for market stability and identifying and prosecuting any form of misconduct that might threaten investors, capital formation, or the markets more broadly. Without speaking to…

March 14 – 15, 2023 Hybrid

Register here.

The Practising Law Institute (PLI) will host a two-day, hybrid program, Private Placements and Hybrid Securities Offerings 2023, from March 14 – 15, 2023. Chaired by Mayer Brown partner, Anna Pinedo, the program covers the basics of private placements, resales of restricted securities, Section 4(a)(1-1/2) transactions…

Speaking at a conference at Columbia University as part of the Columbia Law and Business Schools’ Program in the Law and Economics of Capital Markets, Securities and Exchange Commission Commissioner Uyeda shared his views regarding the private markets and some of the challenges facing smaller public companies.

The Commissioner noted the decline in the number…

The Securities and Exchange Commission’s Investor Advisory Committee will hold a meeting on March 2, 2023, which will be open to the public via webcast.  In the morning session, the Committee will discuss potential regulatory implications of the growth of private markets relative to public markets.  The agenda notes that panelists will explore the growth…

Amendments to Rule 10b5-1 under the Securities Exchange Act of 1934 are effective today, February 27, 2023.

Unanimously adopted by the US Securities and Exchange Commission (SEC) December of last year, the Rule 10b5-1 amendments, among other things:  

  • add new conditions to the affirmative defenses to address concerns regarding the use of material nonpublic
…

The US Securities and Exchange Commission (SEC) requires that Form 144 filings be made electronically via EDGAR, commencing April 13, 2023.  Currently, Form 144 may either be mailed to the SEC or submitted electronically via EDGAR. For more information on the electronic filing requirements for Form 144, see our prior blog post.

In connection…

On February 15, 2023, the U.S. Securities and Exchange Commission (the “SEC” or the “Commission”) issued Release No. 34-96930 (the “Adopting Release”), containing final rules (the “Final Rules”) that will shorten the standard settlement cycle for broker-dealer transactions in securities from the current two business days after the trade date (“T+2”) to one business day…

On February 7, 2023, the Division of Examinations of the US Securities and Exchange Commission (the “Division” and the “SEC,” respectively) announced its examination priorities for 2023. This year, the Division identified new and significant focus areas including: (i) recently adopted rules under the Investment Advisers Act of 1940 and Investment Company Act of 1940…