On March 23, 2018, Cboe Global Markets, Inc. (“Cboe”) sent a letter to the Securities and Exchange Commission (the “SEC”), strongly advocating for the registration of exchange-traded funds (“ETFs”) that hold cryptocurrencies and digital currency futures. Cboe already pushed the envelope in late 2017 when it became the first U.S. futures exchange to offer a bitcoin futures product for trading.
Read MoreOn February 21, 2018, the Securities and Exchange Commission (the SEC) issued interpretative guidance to assist public companies in preparing disclosures about cybersecurity risks and incidents.1
Read MoreThe 2018 proxy season is almost upon us. This QuickStudy recaps some important policy updates and new disclosure requirements to keep in mind as proxy preparations begin in earnest this winter.
Read MoreOn October 23, 2017, the SEC approved1 the adoption of AS 3101, The Auditor’s Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion2 and related amendments to other auditing standards, each as proposed by the Public Company Accounting Oversight Board.
Read MoreOn September 8, 2017, New York City Comptroller Scott M. Stringer and the New York City Pension Funds announced the launch of the “Boardroom Accountability Project 2.0.”1 The goal of Project 2.0 is to make the boards of 151 U.S. public companies2 “more diverse, independent, and climate-competent, so that they are in a position to deliver better long-term returns for investors.”
Read MoreOn August 17, 2017, the Securities and Exchange Commission (“SEC”) updated its guidance with respect to interim financial information that issuers may omit from draft registration statements.1
Read MoreOn August 14, 2017, the SEC approved1 a rule change to the NYSE Listed Company Manual to require listed companies to provide notice to the NYSE at least ten minutes before making any public announcement with respect to a dividend or stock distribution, even when the notice is outside of NYSE trading hours.
Read MoreOn April 12, 2017, the Financial Regulatory Industry Authority (“FINRA”) released a regulatory notice requesting comments on proposed amendments to FINRA Rule 5110 (commonly referred to as the Corporate Financing Rule, the “Rule”) in order to simplify, clarify and modernize the Rule.
Read MoreOn April 3, 2017, the D.C. District Court entered its final judgment in National Association of Manufacturers v. SEC holding that Section 1502 of Dodd-Frank and the SEC’s conflict minerals rule, Rule 13p-1 and Form SD thereunder, violate the First Amendment to the extent that a covered public company is required to report to the SEC and state on its website if any of its products “have not been found to be DRC conflict free”.
Read MoreOn March 31, 2017, the SEC adopted amendments to its rules to reflect an inflation-adjusted threshold in the definition of the term “emerging growth company” (an EGC).1 Currently, an EGC is defined to mean, among other things, an issuer that had total annual gross revenues of less than $1,000,000,000 in its last fiscal year.
Read More
