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SEC Adopts Final Rules Enhancing Disclosures and Providing Additional Investor Protections Related to SPACs

Nearly two years after first proposing new rules related to special purpose acquisition companies (SPACs), the U.S. Securities and Exchange Commission (SEC) has adopted final rules aimed at enhancing investor protections in...more

SEC Adopts Final Rules Amending and Modernizing Beneficial Ownership Reporting Requirements

On October 10, the Securities and Exchange Commission (SEC) adopted, by a bipartisan 4-1 margin, the final rules to amend and modernize the regulations governing beneficial ownership reporting under Sections 13D and 13G of...more

SEC Adopts Final Cybersecurity Rules — Requires Companies to Focus on their Security and Disclosure Plans

On July 26, the Securities and Exchange Commission (SEC) adopted, by a 3-2 margin, a final rule to require more immediate disclosure of material cybersecurity incidents by public companies. In addition, the final rule...more

SEC Adopts Final Rule Amendments That Increase Disclosures Relating to Share Repurchases

On May 3, the Securities and Exchange Commission (SEC) adopted rule amendments regarding disclosures about repurchases of an issuer's equity securities, or issuer stock buybacks. The final rule and fact sheet can be found...more

SEC Comment Letter Update

Overview - This article highlights comment letters publicly issued by the Securities and Exchange Commission (SEC) to Real Estate Investment Trusts (REITs) during 2022. The SEC issues comment letters in connection with...more

SEC Adopts Final Rule Amendments for Rule 10b5-1 Trading Plans and Creates New Disclosure Requirements

Overview On December 14, 2022, the Securities and Exchange Commission (SEC) adopted amendments and certain enhanced disclosure requirements related to Rule 10b5-1 trading plans. The new amendments include...more

SEC Adopts Final Clawback Rules

Summary - On October 26, the Securities and Exchange Commission (SEC) adopted final rules to implement Section 10D of the Securities Exchange Act of 1934, as added by Section 954 of the Dodd-Frank Wall Street Reform and...more

SEC Adopts Final Pay-Versus-Performance Disclosure Rules

Introduction - On August 25, the U.S. Securities and Exchange Commission (SEC) adopted (with the two Republican SEC commissioners dissenting) final pay-versus-performance rules mandated by the Dodd-Frank Wall Street Reform...more

SEC Proposes Amendments to Certain Bases to Exclude Shareholder Proposals Under Rule 14a-8

On July 13, the Securities and Exchange Commission (SEC) released a proposed rule that would amend 17 CFR 240.14a-8 (Rule 14a-8) to revise three of the bases for excluding shareholder proposals from a company’s proxy...more

SEC Proposes New Rules to Enhance and Standardize Climate-Related Disclosures

On March 21, the SEC proposed a highly anticipated set of rules that would require public companies to include a suite of climate-related disclosures in their SEC filings. Although the SEC published guidance in 2010...more

SEC Proposes New Rules to Enhance Cybersecurity Disclosures and Incident Reporting

On February 9, the Securities and Exchange Commission (SEC) proposed new rules to enhance and standardize registrants’ disclosures regarding cybersecurity risk management, strategy, governance, and incident reporting. While...more

SEC Proposes Rule Changes Shortening the Securities Settlement Cycle to T+1 By March 31, 2024

On February 9, the Securities and Exchange Commission (SEC) proposed rule amendments to shorten the standard securities settlement cycle for most broker-dealer transactions to one business day after the trade date (commonly...more

SEC Proposes Rule Amendments for Beneficial Ownership Reporting

On February 10, the Securities and Exchange Commission (SEC) proposed rule amendments to modernize beneficial ownership reporting under Sections 13(d) and 13(g) of the Exchange Act. Under the current rules, beneficial owners...more

SEC Proposes Rule Amendments Relating to Rule 10b5-1 and Insider Trading

On December 15, the Securities and Exchange Commission (SEC) proposed rule amendments regarding the availability of the Rule 10b5-1(c)(1) affirmative defense to insider trading liability and enhanced disclosure requirements....more

Raising Capital During Periods of Extreme Price Volatility

On February 8, in light of recent market volatility in the options and equities markets, the Division of Corporation Finance (Division) of the U.S. Securities and Exchange Commission (Commission) published guidance for...more

SEC Adopts Amendments to Modernize Reg S-K Disclosure Requirements

On August 26, the SEC modernized the disclosure requirements in Items 101 (Description of Business), 103 (Legal Proceedings), and 105 (Risk Factors) of Regulation S-K, reflecting the first significant revisions to these...more

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