Welcome to the latest edition of Fenwick’s Securities Law Update. This issue contains updates and important reminders on...more
On Sept. 27, California Governor Gavin Newsom signed into law Senate Bill (SB) 219, a bill that, among other things, affirms the mandatory disclosure deadlines for California’s landmark carbon accounting laws. In addition to...more
Less than a year after their adoption, California has amended two landmark corporate climate disclosure laws. The changes come after California Gov. Gavin Newsom on Friday signed Senate Bill 219 (SB 219), which provides...more
As we previously reported in October 2023, the California legislature adopted three significant climate disclosure laws...more
In October 2023, California Governor Gavin Newsom signed into law the Climate Corporate Accountability Act (SB 253) and the Climate‐Related Financial Risk Act (SB 261), jointly referred to as the Climate Accountability...more
With the 2023 annual report season upon us, it is time for companies to take stock of risk factors for 10-Ks and 20-Fs, and consider whether recent economic, political, technological, and regulatory developments have had (or...more
Expansive requirements will apply to large public and private companies doing business in California and indirectly impact businesses in their value chain - On October 7, 2023, California Governor Gavin Newsom signed two...more
As businesses across the globe strive to fulfill carbon-neutral and net-zero promises over the coming decades, the voluntary carbon market has emerged as a necessary resource to help businesses bridge the gap to...more
The U.S. Securities and Exchange Commission (the “SEC”) has adopted amendments and updated disclosure requirements that are to be included in a reporting company’s annual report on Form 10-K or 20-F. The SEC has also proposed...more
The Annual Report season will soon be upon us, and it is important to assess a company's risk factors at the outset and whether recent developments, including those relating to macroeconomic, geopolitical, and public health...more
Today marks the 52nd Earth Day celebration, initially commenced in 1970 as citizens around the nation, and the world, gathered to demand stronger protection for the environment: cleaner water, air and land. As in 1970, the...more
Environmental, social, and governance factors (“ESG”) have pushed to the forefront of the SEC’s attention in recent years. In September, building on prior guidance, the SEC’s Division of Corporate Finance released a sample...more
By a 3-2 vote, the U.S. Securities and Exchange Commission (SEC) has adopted amendments designed to modernize the disclosure requirements involving description of business (Item 101), legal proceedings (Item 103), and risk...more