Securities Legal Research & News
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...
PCAOB NEWS AND SPEECHES—Reconstituted PCAOB approves new budget
REGULATION TRACKER—Upcoming SEC and CFTC comment deadlines and effective dates
FRAUD AND MANIPULATION—2ndCir.: Shareholders plausibly alleged that proxy materials omitted relisting plan
FRAUD AND MANIPULATION—D. Ore.: Class action securities fraud failed to state a cause of action
FRAUD AND MANIPULATION—N.D. Cal.: Plaintiff alleges securities fraud against internet company Fastly, Inc.
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...
STRATEGIC PERSPECTIVES—House sends Build Back Better Act to Senate
NOTE TO SUBSCRIBERS
ENFORCEMENT—SEC announces FY 2021 enforcement results
FRAUD AND MANIPULATION—Advisory company’s subsidiary pays $18M for mishandling nonpublic information
EXECUTIVE COMPENSATION—ISS study sees “tipping point” in companies increasingly tying executive pay to ESG metrics
WORTH NOTING—Other litigation, regulatory activity and industry news
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...
CORPORATE GOVERNANCE—CCMC objects to SEC’s rescission of staff legal bulletins on shareholder proposals
PUBLIC COMPANY REPORTING AND DISCLOSURE—SEC grants first no-action relief to non-U.S. swap dealers under substituted compliance regime
ENFORCEMENT—Cornerstone: SEC public company enforcement actions dropped 15% in 2021
BLOG TRACKER—Noteworthy blog posts and other commentary
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...
ACCOUNTING AND AUDITING—Crenshaw sees role for internal accounting controls in managing ESG risks
ENFORCEMENT—N.D. Cal.: Ohio AG files suit against Facebook for securities fraud, cites alleged harm to children
FRAUD AND MANIPULATION—S.D. Fla.: Florida resident and two Israeli residents to pay $7 million for role in fraudulent binary options and digital asset scheme
INDUSTRY NEWS—CFTC /SEC chairs tie Treasury Market to commodities and securities
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...