On March 30, 2022, the Division of Examinations of the US Securities and Exchange Commission (“SEC”) announced its examination priorities for 2022. This year’s priorities specifically focus on: (i) private funds; (ii) environmental, social and governance investing; (iii) standards of conduct, including Regulation Best Interest, fiduciary duty and Form CRS; (iv) information security and operational
Corporate Finance and the Securities Laws (Sixth Edition): The 2021 Edition
What’s new in the 2021 update of Corporate Finance and the Securities Laws? Quite a lot.
Highlights in the update include discussions addressing: digital currencies, electronic document delivery, “green bonds” and sustainability-linked bonds, developments in the convert market, which was particularly active in 2020 and 2021, and developments in the insurance-linked market. The update
NYSE Listings 2021 in Review
The NYSE’s yearly statistics release highlights a second consecutive year of record new listings and the exchange’s increased focus on sustainability. This year’s listings added $1 trillion of new market capitalization to the exchange, with a total of 2,400 companies listed. Technology, biotech, and consumer products companies were prominently represented. Four of the five largest
Dual-Class Stock IPOs
In their dataset and working paper, titled The Rise of Dual-Class Stock IPOs, Dhruv Aggarwal, Ofer Eldar, Yael Hochberg, and Lubomir P. Litov, find that the rise in the number of dual-class IPOs is tied to the increase in bargaining power of founders. In recent years, before 2019, the public markets saw a decrease
SEC Increasingly Turns Focus Toward Strength of Cyber Risk Disclosures
On June 11, 2021, the US Securities and Exchange Commission (SEC) announced that it would focus on cybersecurity disclosures made by public companies as part of its regulatory agenda. Given the SEC’s continued interest in cybersecurity issues, high-profile ransomware attacks and executive orders issued by President Biden, it is no surprise that the SEC is
Tech Companies Come Together on Climate-Related Disclosures
In a comment letter to the Securities and Exchange Commission on June 11, seven well-known tech companies responded to SEC Acting Chair Allison Herren Lee’s March 2021 request for public input on climate change disclosures (see our related blog post). The letter expressed support for consistent reporting by public companies regarding climate-related matters.
Investor Advisory Committee Discusses Rule 10b5-1
During its meeting on June 10, the Securities and Exchange Commission’s Investor Advisory Committee held a panel discussion regarding 10b5-1 plans, welcoming three market participants and academics. As we previously blogged, SEC Chair Gary Gensler asked for recommendations for the Commission’s consideration on how to “freshen up Rule 10b5-1.”
Dr. Dan Taylor, Associate
US Investment Ban Targeting Companies Deemed Linked to Chinese Military Expanded to Chinese Surveillance Technology Sector
A new executive order (“EO”) signed by President Biden on June 3, 2021, amends existing prohibitions on US investments in companies that the US government has determined support the military of the People’s Republic of China (“PRC”). The EO, Executive Order 14032, builds on the national emergency declared in Executive Order 13959, signed by President
View from the GC Remote Office: Top Issues in the Age of Digital
Webinar Event
Wednesday, October 28, 2020 | 3:00pm – 4:00pm EDT
Register here.
What are general counsel considering right now in the areas of data, digital, innovation and software?
Join Mayer Brown partner Michelle Ontiveros Gross for a virtual conversation with Erin Abrams, General Counsel of Via Transportation, Inc.; Louise Pentland, EVP, Chief
Tech Financing and Operating Trends During COVID-19
Tech companies at all growth stages are facing capital raising and operating challenges brought about by the global COVID-19 pandemic. A recent CB Insights client briefing explored these novel business pressures.
To add some perspective, an analysis of earnings calls provided by CB Insights showed that the mentions of “layoffs,” “furloughs” and “hiring freezes” in