The Securities and Exchange Commission’s Investor Advisory Committee (the “Committee”) will meet on Tuesday, December 10, 2024, in an open meeting, that will stream on the SEC’s website. The Committee will first hear from two panels. The first panel, “Examining the Use of Mandatory Arbitration Clauses by Registered Investment Advisers,” will examine the use and
SEC’s Upcoming Investor Advisory Committee Meeting: Finfluencers and AI
The Securities and Exchange Commission announced an upcoming meeting of its Investor Advisory Committee, which will be held on June 6, 2024. The agenda includes a number of interesting topics.
The Committee will consider and address the impact of “finfluencers.” The agenda notes that recent studies have found that these social media influencers who focus
Broker-Dealer Settles FINRA Charges for Failures Relating to Use of Social Media Influencer Program
On March 18, 2024, FINRA announced that it has fined a broker-dealer $850,000 in connection with the firm’s program to pay individuals with followings on social media sites (i.e., “influencers”) to promote the firm in social media communications. This matter represents FINRA’s first disciplinary action involving a firm’s supervision of social media influencers.
Electric Vehicle Company Settles SEC Case
In another special purpose acquisition company (“SPAC”) related enforcement action, on December 21, 2021, the US Securities and Exchange Commission (“SEC”) issued an order instituting cease-and-desist proceedings (“Order”) against a Nasdaq-listed electric vehicle truck manufacturing company that went public through a combination with a SPAC (“Company”). The Company’s initial business combination was consummated in June
The Social Media Guide: Social Media Compliance for Issuers, Broker-Dealers, & Investment Advisers
You are an issuer, investment adviser, or broker-dealer. You want to communicate to the public about securities. Should you (a) type a letter and drop it in the mailbox; (b) chisel out a prospectus on two stone tablets; or (c) use social media?
If you chose (c),
Chair Gensler Congressional Testimony Sheds Light on Potential Regulation
Today, for the first time as Chair of the Securities and Exchange Commission, Gary Gensler appeared before Congress to provide testimony regarding the market disruptions and volatility witnessed in January 2021 relating to GameStop and other securities. Chair Gensler identified seven factors contributing to market volatility: gamification and user experience; payment for order flow; equity
Preparing Boards for CEO Social Media Do’s & Don’ts
Corporate Secretary Webinar
May 1, 2019
11:30am – 12:00pm ET
As recent events have shown, CEOs’ activity on social media platforms such as Twitter can raise serious regulatory and reputation issues for both themselves and their company. Saying the wrong thing or disclosing at the wrong time can raise concerns ranging from potential violations of
Social Media and Corporate Communications
In a recent paper titled “The battle of social media platforms: The use of Twitter, YouTube and Instagram in corporate communication,” author Pawel Bilinski analyzes whether using social media channels helps investors interpret earnings information.
The study focuses on companies that are included in the FTSE 100 index and, within that, on earnings