On February 10, 2022, the Securities and Exchange Commission (the SEC) proposed to change beneficial ownership reporting requirements provided under the Regulation 13D and the Regulation 13G (the Proposal). If adopted, the...more
On November 3, 2021, the staff of the Division of Corporation Finance (the Staff) of the US Securities and Exchange Commission (the SEC) issued Staff Legal Bulletin No. 14L (CF) (SLB 14L) relating to shareholder proposals...more
Rule 38a-1 under the Investment Company Act of 1940 (the 1940 Act) requires funds to review their compliance programs, as well of those of their service providers, including their investment advisers (advisers), annually....more
On August 6, 2021, the Securities and Exchange Commission (SEC) approved The Nasdaq Stock Market LLC’s (Nasdaq) Board Diversity Rule, which is intended to enhance board diversity and transparency among companies listed on its...more
8/12/2021
/ Board of Directors ,
Business Development Companies ,
Corporate Governance ,
Disclosure Requirements ,
Diversity and Inclusion Standards (D&I) ,
Foreign Issuers ,
Foreign Private Issuers ,
LGBTQ ,
Listing Standards ,
Minorities ,
Nasdaq ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Smaller Reporting Companies ,
Woman Board Members
On March 2, 2021, the Securities and Exchange Commission (the SEC) updated its Frequently Asked Questions relating to the targeted co-investment relief that the SEC previously had granted in an effort to assist business...more
On January 5, 2021, the Securities and Exchange Commission (the SEC) issued a Public Statement updating the targeted regulatory relief that the SEC previously had granted in an effort to assist market participants, including...more
On December 1, 2020, The Nasdaq Stock Market LLC (Nasdaq) filed a proposal with the Securities and Exchange Commission (SEC) to adopt listing rules that would enhance board diversity and transparency among companies listed on...more
1/6/2021
/ Board of Directors ,
Corporate Governance ,
Disclosure Requirements ,
Diversity and Inclusion Standards (D&I) ,
LGBTQ ,
Listing Standards ,
Minorities ,
Nasdaq ,
Proposed Rules ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Woman Board Members
On November 19, 2020, the United States Securities and Exchange Commission (the SEC) adopted amendments (the Adopted Amendments)1 to Items 301 (selected financial data), 302 (supplementary financial data), and 303...more
On November 2, 2020, the Securities and Exchange Commission (the SEC) voted to adopt final amendments (the Amendments) to “simplify, harmonize, and improve certain aspects of the exempt offering framework.” The Securities Act...more
12/2/2020
/ Accredited Investors ,
Amended Regulation ,
Business Development Companies ,
Corporate Governance ,
Crowdfunding ,
Exemptions ,
General Solicitation ,
Harmonization Rules ,
Private Offerings ,
Registration Requirement ,
Regulation A ,
Rule 506(c) ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
On October 28, 2020, the U.S. Securities and Exchange Commission (the SEC) voted 3-2 to adopt Rule 18f-4 (the Final Rule) under the Investment Company Act of 1940 (the 1940 Act), which establishes a comprehensive framework...more
11/17/2020
/ Amended Rules ,
Business Development Companies ,
Closed-End Funds ,
Corporate Governance ,
Derivatives ,
ETFs ,
Final Rules ,
Investment Company Act of 1940 ,
Investment Funds ,
Mutual Funds ,
Repurchase Agreements ,
Risk Management ,
Rule 18f-4 ,
Securities and Exchange Commission (SEC)
On October 7, 2020, the US Securities and Exchange Commission (the SEC) announced that it voted to adopt new rule 12d1-4 (Rule 12d1-4) under the 1940 Act and related amendments (the Final Rule) to streamline and enhance the...more
10/16/2020
/ Business Development Companies ,
Closed-End Funds ,
Exchange-Traded Products ,
Final Rules ,
Form N-CEN ,
Investment Company Act of 1940 ,
Investment Funds ,
Mutual Funds ,
Registered Investment Companies (RICs) ,
Section 12(d)(1) ,
Securities and Exchange Commission (SEC)
On August 26, 2020, the US Securities and Exchange Commission (the SEC) adopted amendments to Rule 215 and Rule 501(a) of Regulation D promulgated under the Securities Act of 1933, as amended (the Securities Act), which...more
9/22/2020
/ Accredited Investors ,
Amended Rules ,
Family Businesses ,
Investment Opportunities ,
Limited Liability Company (LLC) ,
Qualified Institutional Buyers ,
Regulation D ,
Rule 144A ,
Rule 501(a) ,
Rule 506 Offerings ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC)
On August 5, 2020, the Securities and Exchange Commission (SEC) announced proposed modifications (the Proposed Rule) to the disclosure framework for mutual funds and exchange-traded funds (ETFs) registered on Form N-1A...more
On July 6, 2020, the US Securities and Exchange Commission (the SEC) announced that it voted to adopt rule amendments (the Amended Rule) intended to improve the efficiency of the exemptive application review procedures...more
As the quarter comes to an end and companies prepare to file earnings releases and financial results, the Securities and Exchange Commission (SEC) has released a series of statements making it clear that it expects to see...more
Since the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act) was enacted on March 27, 2020 and the Paycheck Protection Program (PPP) launched, the Small Business Administration (SBA) has approved over $511...more
6/15/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Financial Stimulus ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Portfolio Companies ,
Relief Measures ,
Safe Harbors ,
SBA ,
U.S. Treasury
The Treasury and the Small Business Administration (SBA) today updated its set of Frequently Asked Questions (FAQs) with respect to the Paycheck Protection Program (PPP) established under the Coronavirus Aid, Relief, and...more
5/14/2020
/ CARES Act ,
Certification Requirements ,
Coronavirus/COVID-19 ,
False Claims Act (FCA) ,
Federal Loans ,
Good Faith ,
New Guidance ,
Paycheck Protection Program (PPP) ,
Safe Harbors ,
SBA ,
SBA Lending Programs ,
U.S. Treasury ,
Whistleblowers
On April 9, 2020, the Federal Reserve unveiled the “Main Street Lending Program” (Program) which will make loans available for small and medium-sized businesses impacted by the COVID-19 pandemic. After considering more than...more
The Treasury and SBA today updated a set of Frequently Asked Questions (FAQs) with respect to the Paycheck Protection Program (PPP) established under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) in order...more
On Friday, April 24, 2020, President Trump signed into law the Paycheck Protection Program and Health Care Enhancement Act (the Act), which amends the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act). The...more
4/29/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Federal Loans ,
Financial Stimulus ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program and Health Care Enhancement Act ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business
On January 30, 2020, the United States Securities and Exchange Commission (the SEC) proposed amendments (the Proposed Amendments) to Item 303 of Regulation S-K, Management’s Discussion & Analysis of Financial Condition and...more
On April 8, 2020, the Securities and Exchange Commission (the SEC) voted, at its first virtual meeting, to adopt rule amendments to implement certain provisions of the Small Business Credit Availability Act (the BDC Act) and...more
On March 27, 2020, the President signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act in response to the COVID-19 emergency. Title IV of the CARES Act directs the Federal Reserve to establish...more
On March 27, 2020, Congress passed, and President Trump signed, the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act) in response to the COVID-19 emergency. Specifically, the CARES Act includes $349 billion...more
On April 8, 2020, the staff of the Division of Investment Management of the US Securities and Exchange Commission (Commission) issued an exemptive order (the Order) under the Investment Company Act of 1940 (1940 Act) that...more