On June 23, 2026, the Securities and Exchange Commission’s (“SEC”) Division of Corporation Finance (the “Division”) issued a new Corporation Finance Interpretation (“CFI”), providing guidance on the disclosure requirements when a company seeks to list rights on a national securities exchange in connection with a business combination transaction.
New Question 142.01 under Section 142…
This week, the Securities and Exchange Commission’s 2026 rulemaking agenda (the “Unified Agenda”) was made publicly available (see here). The Unified Agenda sets out the SEC’s rulemaking priorities for the next year, with general timeframes (but these timeframes are guidelines, and should not be considered definite indicators of when rulemakings will happen). The current…
On June 18, 2026, the Securities and Exchange Commission (“SEC”) granted conditional exemptive relief (the “Conditional Exemption”) from the central clearing mandate for U.S. Treasury securities for private funds to access central clearing through captive clearing subsidiaries.
SEC Rules 17ad-22(a) and (e)(18)(iv)(A) require a U.S. Treasury securities covered clearing agency (“U.S. Treasury securities CCA”) to…
On June 30, 2026, the Office of Mergers and Acquisitions of the Division of Corporation Finance (the “Division”) of the Securities and Exchange Commission (“SEC”) issued an exemptive order (the “2026 Exemptive Order”) allowing certain qualifying tender or exchange offers for non-convertible debt securities to remain open for a minimum of five business days, instead…
The Securities and Exchange Commission’s (“SEC”) Office of the Advocate for Small Business Capital Formation, in conjunction with the Division of Corporation Finance, will host an event titled “Rethinking the Rulebook: Modernizing the IPO Process & Access to Public Capital” on July 13, 2026, at 2:00 p.m. Eastern Time.
The discussion will focus on ways…
On June 30, 2026, the Office of Mergers and Acquisitions of the Division of Corporation Finance (the “Division”) of the U.S. Securities and Exchange Commission (the “SEC”) issued an exemptive order (the “2026 Exemptive Order”) granting relief for certain tender and exchange offers for non-convertible debt securities from the requirement that such offers remain open…
On June 4, 2026, the Supreme Court held in a unanimous decision that the Securities and Exchange Commission is not required to show that investors suffered pecuniary loss in order to obtain a disgorgement award in a civil enforcement action.
For a detailed summary of the ruling, see our Client Alert linked here.
On June 2, 2026, the U.S. Securities and Exchange Commission (the “SEC”) published its Draft Strategic Plan for fiscal years 2026-2030, formally incorporating Chair Paul Atkins’ deregulatory and innovation-focused vision into the agency’s governing framework. The plan is organized around three strategic goals: (1) renewing regulatory policy, (2) reforming enforcement and stakeholder engagement, and (3)…
On May 20, 2026, the Investor Advisory Committee (“IAC”) of the Securities and Exchange Commission (the “Commission”) released a draft recommendation (the “Recommendation”) addressing the Commission’s proposed rule that would replace quarterly periodic reporting required under Sections 13 and 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) with an option…
On May 19, 2026, the SEC released two proposed rule amendments aimed at modernizing the registered offering framework and simplifying ongoing reporting obligations for public companies. The economic analysis accompanying the “Registered Offering Reform” proposal provides a detailed snapshot of the current landscape for business development companies (“BDCs”) and closed-end funds (“CEFs”), including…
