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SEC Adopts New Cybersecurity Disclosure Rules

On July 26, 2023, the U.S. Securities Exchange Commission (“SEC”) adopted final rules regarding cybersecurity risk management, strategy, governance, and incident reporting by public companies. The final rules require...more

SEC Proposes New Rules on Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure

On March 9, 2022, the U.S. Securities Exchange Commission (the Commission) announced proposed amendments to its rules regarding cybersecurity risk management, strategy, governance, and incident reporting by public companies...more

SEC Amends Regulation S-T to Permit Electronic Signatures

On November 17, 2020, the U.S. Securities and Exchange Commission (“SEC”) announced it had adopted amendments to Regulation S-T and other rules to permit the use of electronic signatures for SEC filings (the “Amendments”). ...more

A Primer on Structuring Aircraft Ownership: Avoiding Illegal Flight Department Companies

Many aircraft purchasers fail to adequately consider how the ownership should be structured. A typical approach is to purchase the aircraft in a newly-formed limited liability company wholly-owned by an individual or an...more

Selective Disclosure Violation Results in SEC Order

Recently, the Securities and Exchange Commission (SEC) issued an order charging a publicly traded pharmaceutical company with violations of Regulation FD as a result of selectively disclosing material, nonpublic information....more

SEC Modernizes and Simplifies Disclosure Requirements

On March 20, 2019, the U.S. Securities and Exchange Commission (SEC) announced it had adopted a series of amendments to improve the readability and navigability of company disclosures, and to discourage the disclosure of...more

California Codifies Gender Diversity Requirements for Public Company Boards

California is the first state to codify boardroom gender diversity requirements. On September 30, 2018, California Governor Jerry Brown signed into law Senate Bill 826, which requires publicly traded companies that were...more

SEC Eliminates Redundant Disclosure Requirements

On August 17, 2018, the U.S. Securities and Exchange Commission (SEC) announced that it had adopted a wide-ranging set of amendments (the “amendments”) to its disclosure requirements designed to streamline or eliminate those...more

SEC Announces Upcoming Roundtable on the Proxy Process

On July 20, 2018, the United States Securities and Exchange Commission (the “SEC”) announced that it intends to host a roundtable in the fall 2018 to hear from market participants regarding the SEC’s rules governing the proxy...more

SEC Issues New Guidance on Shareholder Proposals

On November 1, 2017, the Division of Corporation Finance of the U.S. Securities and Exchange Commission (SEC) released Staff Legal Bulletin No. 14I (SLB 14I), which provides important guidance to public companies reviewing...more

SEC Proposes Amendments to Modernize and Simplify Regulation S-K

On October 11, 2017, the U.S. Securities and Exchange Commission (SEC) voted to propose amendments to modernize and simplify disclosure requirements in Regulation S-K and related rules and forms to reduce the costs and...more

SEC Issues Additional Guidance on CEO Pay Ratio Rule

On September 21, 2017, the U.S. Securities and Exchange Commission (SEC) released several items that provide additional guidance on the CEO Pay Ratio Rule (the “Rule”): (1) SEC interpretive guidance; (2) Revised pay...more

SEC Expands Use of Confidential Submissions of Draft Registration Statements

The U.S. Securities and Exchange Commission (SEC) recently announced that, beginning on July 10, 2017, the Division of Corporation Finance (the Division) will permit all companies to submit draft registration statements, on a...more

A Link to the Past (and Present) - The SEC Adopts Rules Requiring Registrants to Include Hyperlinks to Exhibits in Registration...

On March 1, 2017, the U.S. Securities and Exchange Commission (SEC) adopted final rules that will require registrants that file registration statements or reports subject to the exhibit requirements under Item 601 of...more

SEC Staff Issues Guidance on Pay Ratio Disclosure Rules

The staff of the Securities and Exchange Commission’s Division of Corporation Finance (the staff) issued new compliance and disclosure interpretations (C&DIs) on October 18, 2016, providing guidance to companies preparing to...more

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