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Securities

TOP STORY—SEC guidance cracks down on spring-loaded options

November 29, 2021 | By Anne Sherry, J.D.

The agency said that option grants that precede market-moving announcements “merit particular scrutiny by those responsible for compensation and reporting governance.” SEC staff released new guidance showing a focus on the accounting treatment of spr...

TOP STORY—SEC guidance cracks down on spring-loaded options

Securities

TOP STORY—SEC proposes to enhance securities lending transparency, updated recordkeeping

November 19, 2021 | By Rodney F. Tonkovic, J.D.

New Rule 10c-1 would enhance the transparency and efficiency of the securities lending market by requiring data to be reported and made public in short order. By unanimous vote, the SEC has advanced two new proposed rules: one is intended to increase...

TOP STORY—SEC proposes to enhance securities lending transparency, updated recordkeeping

Securities

TOP STORY—S.D.N.Y..: Council for Institutional Investors cites major investor protection concerns as amicus in SPAC case

November 18, 2021 | By Lene Powell, J.D.

The association noted that a SPAC’s sponsors will receive $100 million if the SPAC completes an acquisition—a significant return on a $25,000 investment. The Council for Institutional Investors (CII) has filed an amicus brief in one of three high-pro...

TOP STORY—S.D.N.Y..: Council for Institutional Investors cites major investor protection concerns as amicus in SPAC case

Securities

TOP STORY—SEC amends rules to require universal proxy voting, proposes to amend proxy advice rule

November 17, 2021 | By Lene Powell, J.D.

In new final rules, the SEC eliminated procedural differences for shareholders voting in director elections in person versus by proxy. The SEC also proposed to ease current heightened requirements for proxy advice firms, which some see as necessary a...

TOP STORY—SEC amends rules to require universal proxy voting, proposes to amend proxy advice rule

Securities

TOP STORY—House FSC reports two bills on SPACs

November 16, 2021 | By Mark S. Nelson, J.D.

One of the SPAC bills focuses on disclosures to retail investors and is similar to a bill previously introduced in the Senate. The House Financial Services Committee reported two bills that would place new limits on special purpose acquisition compan...

TOP STORY—House FSC reports two bills on SPACs