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Securities and Exchange Commission (SEC) Securities Exchange Act

Morrison & Foerster LLP

SEC Staff Offers Guidance on Disclosure Requirements for Crypto Asset Exchange-Traded Products

On July 1, 2025, the Staff of the Division of Corporation Finance (the “Staff”) of the U.S. Securities and Exchange Commission (SEC) released new guidance on disclosure requirements for offerings and registrations of...more

A&O Shearman

EDPa Dismisses Securities Fraud Claims Against Life Insurance Co

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On July 24, 2025, Judge Jennifer Murphy of the Eastern District of Pennsylvania granted a motion to dismiss a putative securities class action brought against a life insurance company (the “Company”) and certain of its...more

Fenwick & West LLP

SEC Staff Says Certain Protocol Staking Activities Don't Constitute the Sale of Securities

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The SEC’s Division of Corporation Finance recently issued a statement on Certain Protocol Staking Activities, essentially articulating the Division’s view that “Protocol Staking Activities,” do not involve the offer and sale...more

Mayer Brown Free Writings + Perspectives

SEC Formally Withdraws Various Proposed Rules

The Securities and Exchange Commission (SEC) formally withdrew the following proposed Gensler era rulemakings: Substantial Implementation, Duplication, and Resubmission of Shareholder Proposals Under Exchange Act Rule...more

K&L Gates LLP

United States: SEC’s Division of Corporation Finance Clarifies That Participation in Certain Proof-Of-Stake Activities Does Not...

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On 29 May 2025, the SEC’s Division of Corporation Finance (the Division) issued a guidance statement (Statement) related to certain protocol staking activities. The Statement addresses the impact of federal securities laws on...more

Jones Day

Crypto Staking: SEC Staff Clarifies Non-Security Status for Certain Protocol Activities

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A May 29, 2025, U.S. Securities and Exchange Commission ("SEC") Division of Corporation Finance statement explains that "Covered Crypto Assets"—crypto tokens without any inherent rights to passive income, business enterprise...more

Latham & Watkins LLP

SEC Staff Clarifies That Certain Dollar-Backed Stablecoins Do Not Implicate the Securities Laws

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The Staff noted that a stablecoin generally is not subject to SEC jurisdiction if it is not an investment and used solely for commercial activity....more

Mayer Brown Free Writings + Perspectives

The SEC’s Staff of the Division of Corporation Finance Clarifies Its Views on Crypto Mining

On March 20, 2025, the SEC’s Staff of the Division of Corporation Finance (the “Division”) issued a statement providing its views that crypto mining activities (as defined in its statement) do not involve the offer and sale...more

Davis Wright Tremaine LLP

Writing on a New SLATE – DWT's FINRA Expertise

The SEC's Rule 10c-1a now mandates the reporting of securities loans, marking a significant regulatory shift. Potential challenges in implementing SLATE, including the need for possible adjustments to data dissemination...more

K&L Gates LLP

SEC Expands Nonpublic Review Process for Draft Registration Statements

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On 3 March 2025, the Division of Corporation Finance of the Securities and Exchange Commission (the SEC) announced that it is expanding the scope of availability for companies to submit draft registration statements for...more

WilmerHale

The State of Meme Coin Regulation: SEC Staff’s Statement and Other Considerations

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On February 27, the staff of the Division of Corporation Finance (the “Staff”) of the Securities and Exchange Commission  (“SEC” or “Commission”) released a statement concerning meme coins (“Statement”) with the stated...more

Lowenstein Sandler LLP

SEC’s Expanded Confidential Review Process Provides Issuers Greater Flexibility To Explore and Plan Public Offerings

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On March 3, 2025, the Securities and Exchange Commission’s (SEC) Division of Corporation Finance announced significant enhancements to the accommodations available for issuers confidentially submitting draft registration...more

Fenwick & West LLP

SEC Expansion of Availability of Confidential Submissions of Registration Statements Could Help Life Sciences Companies Raise...

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In an attempt to facilitate capital raising, the SEC announced that it was expanding the ability of issuers to submit draft registration statements for confidential review by the staff. Historically, this procedure was mostly...more

Hogan Lovells

SEC staff expands availability of nonpublic registration statement review process

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On March 3, the SEC’s Division of Corporation Finance announced that it has expanded the availability of the nonpublic review process for registration statements under which issuers may voluntarily submit draft Securities Act...more

Goodwin

SEC Staff Expands Draft Registration Statement Accommodations

Goodwin on

On March 3, 2025, the staff of the U.S. Securities and Exchange Commission’s (the “SEC”) Division of Corporation Finance (the “SEC staff”) announced that, effective immediately, it is enhancing the accommodations available to...more

WilmerHale

SEC Staff Expands Confidential Review Accommodations for Certain Issuers and Transactions

WilmerHale on

On March 3, 2025, the Division of Corporation Finance (the “Division”) of the Securities and Exchange Commission (the “SEC”) issued new guidance, effective immediately, significantly expanding the ability of companies to...more

Sullivan & Worcester

SEC Expands Confidential Submission Options for Issuers to Facilitate Capital Raising

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On March 3, 2025, the U.S. Securities and Exchange Commission (SEC) announced expanded accommodations for issuers submitting draft registration statements for nonpublic review. These enhancements are intended to facilitate...more

Katten Muchin Rosenman LLP

SEC Division of Corporation Finance Expands Confidential Review Accommodations for Draft Registration Statements

On March 3, 2025, the staff of the Securities and Exchange Commission's (SEC) Division of Corporation Finance (the Division) announced that it enhanced certain existing accommodations under the Jumpstart Our Business Startups...more

Winstead PC

Trusts as Qualified Clients: Understanding the Qualified Client Threshold for Trusts Investing in Private Securities - March 2025

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This article is the second of a three-part series discussing trusts in the context of certain common investor thresholds for investment in private securities. This article will examine trusts as “qualified clients” under the...more

Davis Wright Tremaine LLP

A Significant Development for Broker-Dealers Quoting Fixed Income Securities

As a follow-up to our prior discussion in this area, this article addresses a recent exemption issued to the New York Stock Exchange ("NYSE") by the Securities and Exchange Commission ("SEC") that allows for increased trading...more

Mayer Brown Free Writings + Perspectives

SEC Expands Accommodations for Issuers Submitting Draft Registration Statements

On March 3, 2025, the Staff of the Division of Corporation Finance of the Securities and Exchange Commission (the “SEC”) announced a new policy, with immediate effect, expanding the accommodations available for issuers that...more

Sheppard Mullin Richter & Hampton LLP

SEC to Expand Confidential Filing Privileges

The U.S. Securities and Exchange Commission (SEC) has announced significant changes to its confidential filing procedures, aiming to support capital formation and provide greater flexibility for companies planning public...more

Husch Blackwell LLP

SEC Staff Issues New Guidance on Shareholder Proposals and Schedule 13G Eligibility

Husch Blackwell LLP on

On February 12, 2025, the Division of Corporation Finance of the U.S. Securities and Exchange Commission (SEC) published Staff Legal Bulletin No. 14M (SLB 14M) setting forth staff guidance on shareholder proposals submitted...more

DLA Piper

SEC Expands Confidential Review Process to Facilitate Capital Formation

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Companies seeking to raise capital through a public offering are encouraged to note the US Securities and Exchange Commission (SEC)’s announcement on March 3, 2025 that the staff of the Division of Corporation Finance (SEC...more

Akin Gump Strauss Hauer & Feld LLP

SEC Announces Measures to Facilitate Capital Formation

In March 2025, the U.S. Securities and Exchange Commission (SEC) announced that it is expanding the accommodations available for issuers that submit draft registration statements for nonpublic review. The SEC’s Division of...more

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