News & Analysis as of

Securities and Exchange Commission (SEC) Rescission

BCLP

SEC Reinstates Shareholder Proposal Guidance Rescinded Under Chairman Gensler

BCLP on

In one of its first actions under the new Administration, the SEC staff issued new guidance that largely reinstated older guidance that had supported the ability of public companies to exclude shareholder proposals from their...more

Fenwick & West LLP

SEC rescinds SAB 121 - What it Means for Financial Institutions and Crypto Exchanges

Fenwick & West LLP on

On January 23, 2025, the Securities and Exchange Commission (SEC) issued Staff Accounting Bulletin 122 (SAB 122), rescinding the controversial SAB 121....more

Morrison & Foerster LLP

FinReg Currents - Week 1

On January 20, 2025, President Trump issued a Regulatory Freeze Pending Review (“Regulatory Freeze”) that applies to all executive departments and agencies. The Regulatory Freeze prohibits the proposal or issuance of any rule...more

Dorsey & Whitney LLP

The Perils of Finder’s Fees (Revisited)

Dorsey & Whitney LLP on

Way back in 2017, one of our earliest posts discussed the legal and financial risks to both the issuer and the finder if an issuer pays a finder’s fee in connection with a sale of securities in the United States, and the...more

Eversheds Sutherland (US) LLP

Legal challenges may impact SEC’s decision to rescind 2020 proxy firm rules

​​​​​​​On July 13, 2022, the Securities and Exchange Commission (SEC) voted to rescind several amendments to its rules governing proxy voting advice (the Final Amendments). The vote reversed some of the key provisions...more

Farrell Fritz, P.C.

What to Make of SEC Leniency in Block.one ICO Settlement?

Farrell Fritz, P.C. on

On September 30, 2019, the Securities and Exchange Commission announced that blockchain developer Block.one had agreed to pay a $24 million fine to settle charges that it had engaged in an unregistered offering of securities...more

A&O Shearman

Second Circuit Finds New Private Right Of Action Under Investment Company Act Of 1940

A&O Shearman on

Rejecting a widely-held consensus, on August 5, 2019, the United States Court of Appeals for the Second Circuit held that Section 47(b)(2) of the Investment Company Act (“ICA”) creates an implied private right of action for...more

Allen Matkins

Rescinding Initial Coin Offerings Under California Law

Allen Matkins on

John Jenkins at the The Mentor Blog wrote this morning about the Securities and Exchange Commission's relaxed approach to remedying unregistered initial coin offerings (aka ICOs). According to John, the SEC is allowing an...more

A&O Shearman

ICO Issuers Settle With The SEC Over Unregistered Coin Offerings

A&O Shearman on

On November 16, 2018, the U.S. Securities and Exchange Commission (“SEC”) instituted separate settled administrative proceedings against Carrier EQ Inc., d/b/a AirFox (“AirFox”) and Paragon Coin Inc. (“Paragon”) for failing...more

Sheppard Mullin Richter & Hampton LLP

Airdrop of Crypto Tokens Hits Regulatory Flak

On August 14, 2018, the U.S Securities and Exchange Commission (“SEC”) issued a cease and desist order (the “Tomahawk Order”) against Tomahawk Exploration LLC (“Tomahawk”) and David Thompson Laurance (“Laurance”) for their...more

Proskauer - California Employment Law

California Employment Law Notes - May 2017

Ruth Featherstone alleged that her former employer (SCPMG) discriminated against her based on a "temporary disability" that was caused by an adverse drug reaction, which resulted in an "altered mental state." During this...more

Bracewell LLP

SEC Will Not Enforce Part of the Conflict Minerals Disclosure Rule

Bracewell LLP on

On Friday, April 7, 2017, the acting Chief of the Securities and Exchange Commission (the “Commission”) Michael Piwowar released a statement that the Commission will not recommend enforcement of certain parts of its Conflict...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - February 2017

Acting SEC Chief Limits Subpoena Authority to Enforcement Division Acting Director - On February 15, 2017,The Wall Street Journal reported that the acting Chair of the Securities and Exchange Commission (SEC), Michael...more

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