Introduction -
The most frequently asked question at all-hands meetings for a securities offering is “What financial statements will be needed?” The question seems simple enough. But the answer is rarely...more
The most frequently asked question at all-hands meetings for a securities offering is “What financial statements will be needed?” The question seems simple enough. But the answer is rarely straightforward.
This User’s...more
1/20/2016
/ Emerging Growth Companies ,
Financial Reporting ,
Financial Statements ,
Foreign Private Issuers ,
Form 8-K ,
GAAP ,
Internal Controls ,
Non-GAAP Financial Measures ,
Public Offerings ,
Rule 144A ,
Securities and Exchange Commission (SEC)
This is our initial public offering guide. It will help you decide whether an IPO is the right move for your company and, if so, help you make sure your IPO goes off as quickly and as smoothly as possible, without any...more
12/11/2015
/ Corporate Counsel ,
Emerging Growth Companies ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Statements ,
Initial Public Offering (IPO) ,
Internal Controls ,
JOBS Act ,
Publicly-Traded Companies ,
Safe Harbors ,
Sarbanes-Oxley ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Fraud ,
Young Lawyers
US publicly listed companies should plan now for proposed stringent policies and required disclosures.
Under the long-awaited proposed rules adopted by the Securities and Exchange Commission on July 1, 2015, generally,...more
Public companies in the United States are subject to litigation in various areas, including: shareholder litigation; government investigations and enforcement actions; environmental litigation and intellectual property...more
As amended, Regulation A now provides an exemption from registration for certain issuers offering up to US$50 million of securities in a 12-month period.
On March 25, 2015, the Securities and Exchange Commission (SEC)...more
Latham & Watkins partners William Baker, Alexander Cohen, Joel Trotter and Lawrence West hosted a webcast “Securities and Exchange Commission: Critical Issues Facing Public Companies.” Topics discussed included the increasing...more
4/2/2015
Introduction -
Oversight of enterprise risk management, or ERM, continues to challenge boards and occupy a prominent place on the governance agenda. Effective ERM seeks to balance risk and opportunity while enhancing...more
In This Report:
- Introduction
- The Basics
- Background to Financial Statement Requirements
- What Financial Statements Must Be Included in Public Offerings?
- When Does Financial...more
In This Report:
- Introduction
- Background
- What Is a “Foreign Private Issuer”?
- Some Key Ways in which Foreign Private Issuers Are Treated Differently than Domestic US Issuers
- The...more
Director tenure continues to gain attention in corporate governance as term limits become a cause célèbre. Proponents argue directors should no longer qualify as independent after 10 years of service, even though no law, rule...more
Foreign Corrupt Practices Act (FCPA) enforcement continues to be a priority for the United States Department of Justice (DOJ) and Securities and Exchange Commission (SEC). In recent years, U.S. authorities have aggressively...more
6/4/2014
/ Compliance ,
Corporate Counsel ,
Department of Justice (DOJ) ,
Enforcement ,
Foreign Corrupt Practices Act (FCPA) ,
Internal Investigations ,
Investigations ,
Remediation ,
Risk Assessment ,
Risk Management ,
Securities and Exchange Commission (SEC)
In previous installments, we covered the basics of the margin regulations. In our final two installments, we’ll cover a few practice points and explore some of the more complex margin issues (particularly under Regulation U),...more
5/6/2014
/ Collateral ,
Corporate Bonds ,
Corporate Sales Transactions ,
Credit Agreements ,
Equity Transactions ,
Financing ,
Margin Calls ,
Mergers ,
Over The Counter Derivatives (OTC) ,
Regulation U ,
Rule 144A ,
Secured Debt ,
Stocks
Two years ago, the Jumpstart Our Business Startups (JOBS) Act became law. Title I of the JOBS Act significantly changed the IPO playbook, creating a new category of issuer called an emerging growth company (EGC) and rewriting...more
In the last installment on the US margin regulations, we touched on the building blocks of Regulation U, which prohibits a bank or a non-bank lender (who is not a broker-dealer) from extending “purpose credit” that is...more
Consider this scenario: Staying Alive, Inc., a publicly traded clothing company based in South Beach, Florida, is planning to offer additional shares to the public in a registered securities offering. Several weeks before...more
An Updated Look at the World of Offers -
It all seems simple enough. The concept of “offer” is broad under the securities laws, so companies and underwriters need to be careful about any publicity in connection with a...more
3/7/2014
/ Compliance ,
Corporate Counsel ,
Corporate Governance ,
Dodd-Frank ,
Initial Public Offering (IPO) ,
JOBS Act ,
Offers ,
Press Releases ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Underwriting
Activist investors continue to shape corporate governance. Last year saw more than 300 activist proxy campaigns, proposals and contests. Activism-focused funds manage over $100 billion in assets.
In this climate, no...more
Your issuer client is getting ready to launch a high-yield debt offering. When you get to the office and check your messages, you learn that your client has a couple of questions about the representation in the purchase...more
3/6/2014
/ Banking Sector ,
Broker-Dealer ,
CFTC ,
Federal Reserve ,
Financial Industry Regulatory Authority (FINRA) ,
Margin Calls ,
NYSE ,
Regulation T ,
Regulation U ,
Regulation X ,
Securities and Exchange Commission (SEC)
Joel Goodson, the eager and unconventionally entrepreneurial in-house counsel at Lana Co., is on the line with a problem. No, it’s not his missing Steuben crystal egg — instead, he’s asking about the level of detail required...more
This week in our playbook, we are talking about guarantor and affiliate financial statements.
First, the bad news: As a general rule, all guarantors must present the same audited and unaudited financial statements as...more
Your good client Socrates is on the line. Socrates — who gave up a promising career in philosophy to take up professional soccer — has an ethics question for you. No, he is not asking you to explain Stoicism, Epicureanism or...more
We conclude our overview of bond mechanics with an examination of a few complexities associated with tack-on offerings. Tack-on deals are often viewed as so easy that they can practically run themselves. And yet, there a few...more
The most frequently asked question at all-hands meetings for a securities offering is “What financial statements will be needed?” The question seems simple enough. But the answer is rarely straightforward.
This User’s...more
This week we continue our exploration of some important concepts of bond mechanics. Let’s don protective eyewear, roll up our sleeves and prepare to get our hands dirty as we probe the inner workings of call protection....more