On July 27, 2023, US federal banking regulators issued proposals to (i) significantly revise the riskbased regulatory capital requirements for certain midsize and larger US banking organizations (the “Capital Proposal”), and...more
In recent years, private non-bank lending to private equity-owned, small- and middle-market companies has increased significantly. Within this growing sector, private and non-traded BDCs have outperformed other non-bank...more
For the past several years, many have viewed “SEC v. Ripple” as one of the defining conflicts in the US crypto regulatory landscape. At the heart of this dispute is the question of whether digital tokens are “securities” for...more
7/24/2023
/ Bitcoin ,
Blockchain ,
Cryptocurrency ,
Digital Assets ,
Digital Currency ,
Financial Markets ,
Financial Services Industry ,
Howey ,
Investment Contract ,
Ripple ,
Securities Regulation ,
Token Sales ,
Unregistered Securities
The Securities and Exchange Commission announced an open meeting to be held on July 26, 2023. The agenda includes consideration of the final amendments to the rules relating to enhanced and standardized disclosures regarding...more
On February 7, 2023, the Division of Examinations of the U.S. Securities and Exchange Commission (the “Division” and the “SEC,” respectively) announced its examination priorities for 2023. This year, the Division identified...more
On May 5, 2022, Congressman McHenry, the senior Republican on the House Financial Services Committee, and Congressman Huizenga, the senior Republican on the Investor Protection, Entrepreneurship, and Capital Markets...more
On Friday, October 9, 2020, the US Internal Revenue Service released Revenue Procedure 2020-44 (the “Revenue Procedure”), providing retroactive but limited relief for amending specific types of legacy contracts to add...more
This practice note provides 10 practice tips that can help you as counsel to an issuer seeking to engage in a liability management transaction. Given recent market volatility, issuers in a wide range of industry sectors may...more
CB Insights recently published a report, State of Fintech: Investment & Sector Trends to Watch, which provides a number of insights regarding 2019 industry trends....more
FINRA’s 2020 Risk Monitoring and Examination Priorities Letter identifies a number of areas of focus for the examination program in the coming year....more
CBInsights recently published its Global Fintech Report for the third quarter of 2019. For 2019, global fintech funding totaled $24.6 billion through the third quarter of 2019, which is still a decline from 2018. Global...more
At yesterday's open meeting, the Securities and Exchange Commission adopted a final Regulation Best Interest, as well as additional guidance.
Final action relating to the broker-dealer standard of conduct had been...more
6/6/2019
/ Agency Relationship ,
Best Interest Standard ,
Broker-Dealer ,
Conflicts of Interest ,
Fiduciary Duty ,
Financial Services Industry ,
Investment Adviser ,
Investment Products ,
Regulatory Oversight ,
Regulatory Standards ,
Retail Investors ,
Rulemaking Process ,
Securities and Exchange Commission (SEC)
As part of the Disclosure Effectiveness initiative, the Securities and Exchange Commission proposed amendments to address the financial disclosure requirements in connection with acquisitions and dispositions. The SEC...more
The House Financial Services Committee recently passed H.R. 1815, which is the Securities and Exchange Commission Disclosure Effectiveness Testing Act. ...more
4/23/2019
/ Best Interest Standard ,
Disclosure Requirements ,
Financial Services Committee ,
Financial Services Industry ,
Investment ,
Legislative Agendas ,
Proposed Legislation ,
Regulatory Oversight ,
Regulatory Requirements ,
Retail Investors ,
Rulemaking Process ,
Securities and Exchange Commission (SEC) ,
Testing Requirements
FINRA published its Report on FINRA Examination Findings and highlights private placement related concerns. In its examinations of the practices of many broker-dealers...more
Speaking at a session at the American Bar Association’s annual meeting, a representative of the Securities and Exchange Commission’s Division of Corporation Finance (Michael Seaman) provided guidance for attendees regarding...more
9/17/2018
/ C&DIs ,
Class Action Arbitration Waivers ,
Corporate Finance ,
Cybersecurity ,
Disclosure Requirements ,
Financial Regulatory Reform ,
Financial Services Industry ,
Financial Statements ,
Offerings ,
Regulation A ,
Regulation S-K ,
Rulemaking Process ,
Smaller Reporting Companies