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Securities Practice Update (December 2020)
December 21, 2020 Download PDF
Our December 2020 Securities Practice Update summarizes significant recent SEC initiatives and other public company developments that we have highlighted over the past few months in our alerts.
Events & Publications
SEC Turns up the Heat on Climate and ESG Disclosures
- Mar 04, 2021
- Publications
SEC Turns up the Heat on Climate and ESG Disclosures
Today, the SEC announced the creation of a Climate and ESG Task Force in its Division of Enforcement. The Enforcement Task Force, which will be led by the Acting Deputy Director of Enforcement, will oversee a Division-wide effort to…
Acting SEC Chair Allison Herren Lee Issues Statement on the Review of Climate-Related Disclosure
- Feb 25, 2021
- Publications
Acting SEC Chair Allison Herren Lee Issues Statement on the Review of Climate-Related Disclosure
Acting SEC Chair Allison Herren Lee issued a statement that she has directed the Staff of the SEC’s Division of Corporation Finance to “enhance its focus on climate-related disclosure in public company filings.”
SEC Division of Corporation Finance Issues Sample Comments for Issuers Conducting Offerings During Periods of Volatility
- Feb 18, 2021
- Publications
SEC Division of Corporation Finance Issues Sample Comments for Issuers Conducting Offerings During Periods of Volatility
The Staff of the SEC’s Division of Corporation Finance recently issued a letter containing sample comments that the Staff may provide to issuers conducting securities offerings amid market and price volatility. The sample comments…
Update on NYSE Shareholder Approval Requirements: Waiver Extension and Proposed Amendments
- Jan 12, 2021
- Publications
Update on NYSE Shareholder Approval Requirements: Waiver Extension and Proposed Amendments
The NYSE has extended through March 31 its waiver of shareholder approval requirements regarding issuances to directors, officers and substantial security holders, and private placements in excess of 20% of a company’s common stock.…
SEC Division of Corporation Finance Issues SPAC Disclosure Guidance
- Jan 04, 2021
- Publications
SEC Division of Corporation Finance Issues SPAC Disclosure Guidance
The Division of Corporation Finance recently issued CF Disclosure Guidance: Topic 11 – Special Purpose Acquisition Companies. This guidance highlights disclosure considerations for SPACs at both the IPO and business combination…
UK and EU Reach Agreement on Trade: Key Takeaways
- Dec 29, 2020
- Publications
UK and EU Reach Agreement on Trade: Key Takeaways
On Christmas Eve, the European Commission and the UK government reached agreement on the terms of a EU-UK Trade and Cooperation Agreement, averting the economically and legally disruptive impact of a “no deal Brexit.” The Agreement…
SEC Modernizes and Combines Investment Adviser Advertising and Cash Solicitation Rules
- Dec 28, 2020
- Publications
SEC Modernizes and Combines Investment Adviser Advertising and Cash Solicitation Rules
The SEC recently adopted amendments to the advertising and cash solicitation rules under the Investment Advisers Act, creating a merged rule intended to modernize the regulatory regime to reflect changes in the investment advisory…
SEC Proposes Amendments to Rule 144
- Dec 28, 2020
- Publications
SEC Proposes Amendments to Rule 144
The SEC recently proposed amendments to Rule 144. The proposed amendments include mandatory electronic filing of Form 144 with respect to securities issued by issuers subject to Exchange Act reporting requirements; an extended Form…
FCA Adopts New Listing Rule Mandating Climate-related Disclosure in Annual Reports
- Dec 23, 2020
- Publications
FCA Adopts New Listing Rule Mandating Climate-related Disclosure in Annual Reports
The U.K.’s Financial Conduct Authority (FCA) recently adopted a rule requiring commercial companies with a premium listing on the London Stock Exchange to provide, on a modified comply-or-explain basis, disclosures on how they are…
Update on Primary Direct Floor Listings: SEC Again Approves NYSE Rule and Institutes Proceedings on Nasdaq Proposal
- Dec 22, 2020
- Publications
Update on Primary Direct Floor Listings: SEC Again Approves NYSE Rule and Institutes Proceedings on Nasdaq Proposal
Following a petition to review filed by the Council of Institutional Investors, the SEC has again approved the NYSE’s proposed rule change to permit primary direct floor listings—direct listings with a primary capital raise. This…
Securities Practice Update (December 2020)
- Dec 21, 2020
- Publications
Securities Practice Update (December 2020)
Our December 2020 Securities Practice Update summarizes significant recent SEC initiatives and other public company developments that we have highlighted over the past few months in our alerts.
President Signs Holding Foreign Companies Accountable Act
- Dec 21, 2020
- Publications
President Signs Holding Foreign Companies Accountable Act
President Trump recently signed into law the Holding Foreign Companies Accountable Act, which could effectively result in the delisting of non-U.S. SEC reporting companies—particularly from China—whose financial statements have, for a …
SEC Adopts Final Disclosure Rules for Resource Extraction Issuers
- Dec 18, 2020
- Publications
SEC Adopts Final Disclosure Rules for Resource Extraction Issuers
The SEC recently adopted final disclosure rules that will require resource extraction issuers to disclose payments made to the U.S. federal government or foreign governments for the commercial development of oil, natural gas or…
U.S. Congress Passes Holding Foreign Companies Accountable Act
- Dec 04, 2020
- Publications
U.S. Congress Passes Holding Foreign Companies Accountable Act
The U.S. House of Representatives recently passed the Holding Foreign Companies Accountable Act, which could effectively result in the delisting of non-U.S. SEC reporting companies (particularly from China) whose financial statements…
Nasdaq Proposes Board Diversity Requirements for Listed Companies
- Dec 03, 2020
- Publications
Nasdaq Proposes Board Diversity Requirements for Listed Companies
In a watershed moment for corporate governance in the United States, Nasdaq has proposed board diversity and disclosure requirements as a condition to continued listing. This is the latest in a series of developments spotlighting…
SEC Proposes Amendments to Rule 701 and Form S-8
- Dec 02, 2020
- Publications
SEC Proposes Amendments to Rule 701 and Form S-8
The SEC has proposed amendments to modernize the securities law framework for equity compensation offerings to employees and other service providers. The amendments are intended to reduce compliance burdens for issuers by simplifying …
SEC Proposes to Permit Offerings of Equity Compensation to Gig Economy Workers
- Dec 02, 2020
- Publications
SEC Proposes to Permit Offerings of Equity Compensation to Gig Economy Workers
The SEC has proposed amendments that would permit, for a temporary five-year trial period, companies to offer equity compensation to “platform workers” (gig economy workers who provide services by means of an internet- or other…
CorpFin Staff Issues Guidance on Disclosure Considerations for Chinese Issuers
- Dec 01, 2020
- Publications
CorpFin Staff Issues Guidance on Disclosure Considerations for Chinese Issuers
The staff of the SEC’s Division of Corporation Finance recently issued CF Disclosure Guidance Topic No. 10 regarding certain disclosure considerations for companies based, or with the majority of their operations, in China. In the…
SEC Updates Form 20-F and Form 40-F MD&A and Other Financial Disclosure Requirements
- Nov 24, 2020
- Publications
SEC Updates Form 20-F and Form 40-F MD&A and Other Financial Disclosure Requirements
The SEC has adopted amendments to the financial disclosure requirements of Regulation S-K, including the requirements governing the presentation of Management’s Discussion and Analysis. These amendments are a part of the SEC’s…
SEC Updates MD&A and Other Financial Disclosure Requirements
- Nov 24, 2020
- Publications
SEC Updates MD&A and Other Financial Disclosure Requirements
The SEC has adopted amendments to the financial disclosure requirements of Regulation S-K, including the requirements governing the presentation of Management’s Discussion and Analysis. These amendments are a part of the SEC’s…
SEC to Permit Electronic Signatures
- Nov 19, 2020
- Publications
SEC to Permit Electronic Signatures
As part of its modernization efforts, the SEC has adopted amendments to allow for electronic signature of documents filed with the SEC via EDGAR. The SEC has also revised rules and forms under the Securities Act, Exchange Act and…
Larry Wee to Participate in Goldman Sachs Credit Outlook Conference
- Dec 03, 2020
- Events
Larry Wee to Participate in Goldman Sachs Credit Outlook Conference
Corporate partner Lawrence Wee will participate in a panel, “Covenant Trends Across Leveraged Finance: A Less-Than-Efficient Frontier,” as part of the Goldman Sachs Credit Outlook Conference: Insights into 2021 Virtual Conference.
ISS Issues Final Voting Policies for 2021 Proxy Season
- Nov 17, 2020
- Publications
ISS Issues Final Voting Policies for 2021 Proxy Season
ISS has issued its final voting policies for the upcoming proxy season. While there are a few important changes to its U.S. voting policies, ISS’s most significant move this season may not be these updates, but rather the termination…
SEC Updates Offering Exemption Framework
- Nov 06, 2020
- Publications
SEC Updates Offering Exemption Framework
In an effort to ease the burden on issuers seeking to access capital in private placement markets, the SEC recently adopted a number amendments to modernize, harmonize and simplify the exempt offering framework, including an overhaul…
LIBOR Cessation: ISDA Launches IBOR Fallbacks Supplement and ISDA 2020 IBOR Fallbacks Protocol
- Oct 27, 2020
- Publications
LIBOR Cessation: ISDA Launches IBOR Fallbacks Supplement and ISDA 2020 IBOR Fallbacks Protocol
The International Swaps and Derivatives Association, Inc. (ISDA) recently launched the IBOR Fallbacks Supplement to the 2006 ISDA Definitions and the ISDA 2020 IBOR Fallbacks Protocol to address the expected cessation of various…
SEC Updates Rules on Auditor Independence
- Oct 20, 2020
- Publications
SEC Updates Rules on Auditor Independence
In an effort to modernize its auditor independence rules, the SEC recently adopted amendments to certain auditor independence requirements set forth in Regulation S-X. Under the amendments, certain relationships and services that…
SEC Proposes Conditional “Finder” Exemptions to Broker-Dealer Registration Requirements
- Oct 09, 2020
- Publications
SEC Proposes Conditional “Finder” Exemptions to Broker-Dealer Registration Requirements
In an effort to assist small businesses with their capital raising needs, the SEC recently proposed an exemptive order which, if issued, would offer limited conditional exemptions from broker-dealer registration for individuals who…
LIBOR Transition: ISDA Receives Positive Business Review Letter from the Department of Justice on Proposed IBOR Fallback Language
- Oct 12, 2020
- Publications
LIBOR Transition: ISDA Receives Positive Business Review Letter from the Department of Justice on Proposed IBOR Fallback Language
On October 1, the Antitrust Division of the U.S. Department of Justice issued a business review letter finding that a proposal of the International Swaps and Derivatives Association (ISDA) relating to amendments to ISDA’s model…
SEC Adopts Final Rules on Shareholder Proposals
- Sep 29, 2020
- Publications
SEC Adopts Final Rules on Shareholder Proposals
The SEC recently adopted amendments to modernize important aspects of the Rule 14a-8 process for shareholder proposals to be included in domestic SEC reporting company proxy statements. These amendments adopt a tiered system of…
SEC Settles Charges against BMW AG for Failure to Provide Accurate Disclosure in Rule 144A Bond Offerings
- Sep 29, 2020
- Publications
SEC Settles Charges against BMW AG for Failure to Provide Accurate Disclosure in Rule 144A Bond Offerings
The SEC recently settled charges against BMW AG and two of its U.S. subsidiaries for inaccurate and misleading disclosures included in offering memoranda for Rule 144A offerings of bonds in the United States. The enforcement action…
SEC Adopts Final Rules on Proxy Voting Advice and Related Guidance on Investment Adviser Voting Responsibilities
- Sep 22, 2020
- Publications
SEC Adopts Final Rules on Proxy Voting Advice and Related Guidance on Investment Adviser Voting Responsibilities
The SEC recently adopted amendments to its proxy solicitation rules that codify its view that proxy voting advice constitutes a solicitation under the proxy rules; clarify that a failure by proxy advisory firms to provide material…
SEC Publishes Nasdaq’s Proposal for Direct Listings with a Capital Raise
- Sep 18, 2020
- Publications
SEC Publishes Nasdaq’s Proposal for Direct Listings with a Capital Raise
The SEC recently published proposed listing rule changes filed by Nasdaq that would permit companies undertaking a direct listing on Nasdaq to raise capital. Under the revised rules, companies would be permitted to undertake an IPO…
SEC Approves NYSE Rule Change Permitting Primary Direct Floor Listings
- Sep 09, 2020
- Publications
SEC Approves NYSE Rule Change Permitting Primary Direct Floor Listings
The SEC recently approved a rule change filed by the NYSE that modifies direct listings provisions, in effect allowing companies to undertake an initial public offering and concurrent NYSE listing without the use of underwriters to…
ESMA Publishes New Guidelines on Disclosure Requirements under the Prospectus Regulation
- Sep 08, 2020
- Publications
ESMA Publishes New Guidelines on Disclosure Requirements under the Prospectus Regulation
The European Securities and Markets Authority (“ESMA”) has published new guidelines on disclosure requirements under the Prospectus Regulation (the “Guidelines”) (available here) that update and replace the recommendations of the…
SEC Amends Disclosure Requirements for Business Sections, Legal Proceedings and Risk Factors
- Sep 01, 2020
- Publications
SEC Amends Disclosure Requirements for Business Sections, Legal Proceedings and Risk Factors
The SEC has adopted amendments to Regulation S-K that update disclosure requirements concerning the general development of a registrant’s business, the narrative description of the business, material pending legal proceedings and risk …
SEC Amends Definitions of Accredited Investor and Qualified Institutional Buyer
- Aug 31, 2020
- Publications
SEC Amends Definitions of Accredited Investor and Qualified Institutional Buyer
The SEC recently adopted final amendments to the definitions of “accredited investor” (AI) and “qualified institutional buyer” (QIB) to include new AI categories of natural persons and entities, and an expanded list of eligible…
The European Commission Publishes Capital Markets Recovery Package Proposals
- Aug 17, 2020
- Publications
The European Commission Publishes Capital Markets Recovery Package Proposals
In July, the European Commission adopted a series of legislative reform proposals (the “Recovery Package”) aimed at facilitating post-COVID-19 economic recovery.
Update for Chinese SEC Reporting Companies: President’s Working Group Issues Mandated Report on Listings
- Aug 07, 2020
- Publications
Update for Chinese SEC Reporting Companies: President’s Working Group Issues Mandated Report on Listings
On August 6, the President’s Working Group on Financial Markets released its report in response to President Trump’s mandate that it set forth recommendations to address the continued constraints on access by the Public Company…
SEC Adopts Final Rules on Proxy Voting Advice and Related Guidance on Investment Adviser Voting Responsibilities
- Jul 22, 2020
- Publications
SEC Adopts Final Rules on Proxy Voting Advice and Related Guidance on Investment Adviser Voting Responsibilities
Among others, the SEC now requires that proxy advisory firms wishing to rely on certain proxy solicitation rule exemptions must establish reasonable policies and procedures to give all companies access to their voting advice before or …
SEC Proposes Amendments to Form 13F Reporting Requirements
- Jul 22, 2020
- Publications
SEC Proposes Amendments to Form 13F Reporting Requirements
The SEC has proposed amendments to Rule 13f-1 of the Securities Exchange Act and Form 13F. The principal proposed changes would raise the reporting threshold from $100 million to $3.5 billion and eliminate the so-called “omission…
COVID-19 Update for Public Companies: Status of Temporary Relief
- Jul 08, 2020
- Publications
COVID-19 Update for Public Companies: Status of Temporary Relief
The SEC recently approved the NYSE’s rule proposal to extend until September 30, 2020, the temporary waiver of certain requirements under the NYSE’s shareholder approval rule. The waiver applies to equity issuances to related parties…
DOJ Antitrust Division and SEC Sign Memorandum of Understanding on Cooperation
- Jun 24, 2020
- Publications
DOJ Antitrust Division and SEC Sign Memorandum of Understanding on Cooperation
On June 22, the DOJ’s Antitrust Division and the SEC announced that they have signed a memorandum of understanding to enhance cooperation between the two agencies. Beyond continuing cooperation in rulemaking, investigations and…
SEC Staff Issues Additional COVID-19 Disclosure Guidance
- Jun 24, 2020
- Publications
SEC Staff Issues Additional COVID-19 Disclosure Guidance
The SEC’s Division of Corporation Finance provided additional guidance June 23 on disclosure matters that SEC reporting companies should consider with respect to COVID-19 and related business and market disruptions, updating guidance…
FCA Publishes Guidance for Listed Companies on Market Conduct and Discipline and Grants Further Relief on Financial Reporting Deadlines
- Jun 17, 2020
- Publications
FCA Publishes Guidance for Listed Companies on Market Conduct and Discipline and Grants Further Relief on Financial Reporting Deadlines
In its most recent Market Watch Newsletter (available here), the UK Financial Conduct Authority (“FCA”) has published guidance on market conduct and transaction reporting issues in light of COVID-19. The key message in the guidance is …
SEC Adopts Amendments to Streamline Disclosures Relating to Acquisitions and Dispositions
- May 27, 2020
- Publications
SEC Adopts Amendments to Streamline Disclosures Relating to Acquisitions and Dispositions
On May 20, 2020, the SEC adopted final rules amending Regulation S-X to streamline the information that SEC registrants must disclose in connection with significant acquisitions of other businesses as well as dispositions.
Disclosure and Other Considerations: an Update for Chinese SEC Reporting Companies
- May 26, 2020
- Publications
Disclosure and Other Considerations: an Update for Chinese SEC Reporting Companies
As many Chinese companies with SEC reporting obligations have taken advantage of the relief provided by the U.S. Securities and Exchange Commission to delay the filings of their annual reports on Form 20-F, we outline key disclosure…
COVID-19 Update for Public Companies: NYSE Provides Temporary Relief for the 20% Shareholder Approval Requirement
- May 19, 2020
- Publications
COVID-19 Update for Public Companies: NYSE Provides Temporary Relief for the 20% Shareholder Approval Requirement
The SEC approved, with immediate effect, a proposed NYSE rule change that provides NYSE-listed companies with a temporary COVID-19 exception through June 30 to the 20% shareholder approval requirement for private placements. The…
COVID-19 Update for Public Companies: Nasdaq Provides Temporary Relief as to the 20% Shareholder Approval Requirement
- May 08, 2020
- Publications
COVID-19 Update for Public Companies: Nasdaq Provides Temporary Relief as to the 20% Shareholder Approval Requirement
The SEC recently approved a rule change that provides Nasdaq-listed companies with a limited temporary exception to the shareholder approval requirement for private placements and a narrow related exception for an affiliate’s…
COVID-19 Update for Public Companies: Nasdaq and NYSE Tolling Periods
- Apr 30, 2020
- Publications
COVID-19 Update for Public Companies: Nasdaq and NYSE Tolling Periods
In light of the continuing, unprecedented decline in the U.S. and global equity markets, the NYSE and the Nasdaq Stock Market recently modified their listing requirements relating to market capitalization and $1.00 minimum price (in…
COVID-19 Update: SEC and Nasdaq Response and Updated SEC C&DIs
- Apr 20, 2020
- Publications
COVID-19 Update: SEC and Nasdaq Response and Updated SEC C&DIs
Nasdaq recently addressed some questions that Nasdaq-listed companies may have related to disruptions caused by COVID-19. Concurrently, the SEC Staff provided new guidance regarding Form 144 filing requirements in light of COVID-19…
COVID-19 Update: NYSE Shareholder Approval for Related Party and 20% Issuances Temporarily Waived and Minimum Market Capitalization Standard Temporarily Suspended
- Apr 20, 2020
- Publications
COVID-19 Update: NYSE Shareholder Approval for Related Party and 20% Issuances Temporarily Waived and Minimum Market Capitalization Standard Temporarily Suspended
The SEC is temporarily waiving certain requirements under the NYSE’s shareholder approval rule applicable to equity issuances to related parties and equity issuances in private placements in excess of 20%.
LIBOR Cessation: ISDA Announces Preliminary Results of Consultation on Pre-cessation Fallbacks for LIBOR
- Apr 20, 2020
- Publications
LIBOR Cessation: ISDA Announces Preliminary Results of Consultation on Pre-cessation Fallbacks for LIBOR
On April 15, ISDA announced preliminary results of its second market consultation regarding the implementation of pre-cessation fallbacks for derivatives contracts referencing LIBOR. ISDA found that “a significant majority of…
LIBOR Cessation: ARRC Announces Recommendation for Spread Adjustment Methodology for Cash Products
- Apr 09, 2020
- Publications
LIBOR Cessation: ARRC Announces Recommendation for Spread Adjustment Methodology for Cash Products
On April 8, 2020, the Alternative Reference Rate Committee (“ARRC”), a working group convened to help prepare for the cessation of the U.S. dollar London Interbank Offered Rate (USD LIBOR), announced that it had agreed on a…
Joint Statement by the FCA, FRC and PRA Regarding Capital Markets Reporting in Light of Recent COVID-19 Developments
- Mar 30, 2020
- Publications
Joint Statement by the FCA, FRC and PRA Regarding Capital Markets Reporting in Light of Recent COVID-19 Developments
On March 26, UK regulatory bodies granted temporary relief and issued guidance to listed companies and auditors as a result of the increasing challenges posed by COVID-19.
COVID-19: LIBOR 2021 Cessation Timing Unchanged Though Planning Delays Expected
- Mar 29, 2020
- Publications
COVID-19: LIBOR 2021 Cessation Timing Unchanged Though Planning Delays Expected
Notwithstanding COVID-19-related market volatility and associated challenges faced by market participants, UK regulators have affirmed that the timetable for LIBOR’s anticipated cessation at the end of calendar year 2021 currently…
SEC Extends Conditional Reporting Relief; CorpFin Staff Issues COVID-19 Disclosure Guidance
- Mar 26, 2020
- Publications
SEC Extends Conditional Reporting Relief; CorpFin Staff Issues COVID-19 Disclosure Guidance
The SEC announced March 25th that it was extending filing periods covered by the conditional reporting relief announced March 4. Concurrently, the Division of Corporation Finance issued guidance and questions for reporting companies…
COVID-19: Withdrawing or Revising Earnings Guidance
- Mar 23, 2020
- Publications
COVID-19: Withdrawing or Revising Earnings Guidance
In recent days, scores of companies have either withdrawn or revised downward previously issued guidance due to the continuing adverse impacts of the COVID-19 pandemic, with most opting to withdraw. We highlight important areas to…
The Coronavirus: Certain Considerations for Public Companies
- Mar 17, 2020
- Publications
The Coronavirus: Certain Considerations for Public Companies
As the coronavirus (COVID-19) pandemic continues to slow commerce, most companies face serious challenges in almost all areas of their businesses. The recent turmoil and volatility of public financial markets has resulted in many…
SEC Adopts Simplified Disclosure Requirements for Guaranteed and Secured Notes in Registered Offerings
- Mar 17, 2020
- Publications
SEC Adopts Simplified Disclosure Requirements for Guaranteed and Secured Notes in Registered Offerings
On March 2, the SEC published final rules (available here) amending and simplifying the financial disclosure requirements of Rule 3-10 of Regulation S-X for issuers and guarantors of registered guaranteed debt securities and of Rule…
UPDATE: The Coronavirus’ Impacts on Your Annual Meeting
- Mar 17, 2020
- Publications
UPDATE: The Coronavirus’ Impacts on Your Annual Meeting
As we enter the run-up to peak proxy season and with travel restrictions and “social distancing” measures increasing, companies face challenges on how to address the coronavirus (COVID-19) outbreak in the context of their annual…
Ban on Travel from Europe: Additional Details Are Released; the UK and Ireland Are Added to the List
- Mar 14, 2020
- Publications
Ban on Travel from Europe: Additional Details Are Released; the UK and Ireland Are Added to the List
The UK and Ireland have been added to the existing ban on entry into the U.S. of foreign nationals who have been in any of 26 countries in Europe during the 14 days prior to their entry.
COVID-19: Debt Buyback Considerations
- Mar 13, 2020
- Publications
COVID-19: Debt Buyback Considerations
As market reaction to the coronavirus outbreak leads to declining trading prices for bank loans and notes, many debt issuers and their private equity sponsors are considering repurchasing their outstanding debt to capture discount. We …
The United States Imposes a Ban on Travel from Schengen Area Countries
- Mar 12, 2020
- Publications
The United States Imposes a Ban on Travel from Schengen Area Countries
President Trump signed a proclamation restricting and suspending the entry into the United States of foreign nationals who have been within Europe’s Schengen Area during the 14 days prior to their entry. U.S. citizens and others not…
The Coronavirus’ Impacts on Your Annual Meeting
- Mar 11, 2020
- Publications
The Coronavirus’ Impacts on Your Annual Meeting
As peak proxy season approaches and travel restrictions and quarantines increase, companies face challenges on how to address the coronavirus (COVID-19) outbreak in the context of their annual shareholders meetings. In this memo, we…
SEC Issues a Statement on Coronavirus Reporting Considerations and Potential Relief
- Feb 20, 2020
- Publications
SEC Issues a Statement on Coronavirus Reporting Considerations and Potential Relief
The Securities and Exchange Commission recently addressed financial reporting considerations and potential SEC relief in light of the effects of the novel coronavirus. These effects may be important to SEC-reporting companies that…
SEC Reporting Companies: Considering the Impact of the Coronavirus on Public Disclosure and Other Obligations
- Mar 04, 2020
- Publications
SEC Reporting Companies: Considering the Impact of the Coronavirus on Public Disclosure and Other Obligations
As the coronavirus (COVID-19) continues to spread, SEC reporting companies and their boards need to consider the impacts of the outbreak not just from business continuity and risk management perspectives, but also on their public…
SEC Proposes Amendments to MD&A Requirements and Provides Guidance on use of Metrics in the MD&A
- Feb 03, 2020
- Publications
SEC Proposes Amendments to MD&A Requirements and Provides Guidance on use of Metrics in the MD&A
On January 30, the U.S. Securities and Exchange Commission (the “SEC”) published proposed amendments to modernize, simplify and enhance certain financial disclosure requirements set forth in Regulation S-K.
David Huntington Participates in Society for Corporate Governance Program
- Jan 21, 2020
- Events
David Huntington Participates in Society for Corporate Governance Program
Corporate partner David Huntington participated in Society for Corporate Governance’s “Essentials For Corporate Governance,” the Society’s signature instructional program on the responsibilities of corporate secretaries and other…
Brexit Update: What does “Brexit” really mean?
- Jan 23, 2020
- Publications
Brexit Update: What does “Brexit” really mean?
Yesterday, the Withdrawal Agreement Bill, which is necessary to implement the Withdrawal Agreement, was approved by Parliament and is expected to receive royal assent by the end of the week.
Global Regulators Press Market Participants to Prepare Now for LIBOR Transition
- Jan 22, 2020
- Publications
Global Regulators Press Market Participants to Prepare Now for LIBOR Transition
It is widely expected that within two years, by the end of 2021, the London Interbank Offered Rate (“LIBOR”) will no longer be published by LIBOR panel banks. Recognizing the potential impact LIBOR’s cessation could have on lenders,…
Brexit Update
- Jan 14, 2020
- Publications
Brexit Update
Three and a half years after the June 2016 referendum, the UK in all likelihood will leave the EU. While the departure date technically is January 31, 2020, in fact little will change on January 31 as the departure date will be…
SEC Proposes Amendments to the Definitions of Accredited Investor and Qualified Institutional Buyer
- Jan 08, 2020
- Publications
SEC Proposes Amendments to the Definitions of Accredited Investor and Qualified Institutional Buyer
The U.S. Securities and Exchange Commission (the “SEC”) has issued a release (the “Proposing Release”) (available here) proposing amendments that expand the definitions of “accredited investor” (“AI”) and “qualified institutional…
SEC Staff Issues Statement Addressed to Audit Committees
- Jan 06, 2020
- Publications
SEC Staff Issues Statement Addressed to Audit Committees
On December 30, 2019, the SEC Chairman, Jay Clayton, the SEC’s Chief Accountant, Sagar Teotia, and the Director of the SEC’s Division of Corporation Finance, William Hinman, issued a joint statement (the “Statement”) (available here)…
Takeaways from the AICPA’s 2019 Conference on Current SEC and PCAOB Developments
- Jan 06, 2020
- Publications
Takeaways from the AICPA’s 2019 Conference on Current SEC and PCAOB Developments
The annual AICPA Conference on Current SEC and PCAOB Developments has become a highly anticipated source of information on the latest issues and trends in financial reporting, accounting and auditing.
Securities Practice Update (Fall 2019)
- Nov 26, 2019
- Publications
Securities Practice Update (Fall 2019)
In September 2019, the SEC adopted a new rule (available here) under the Securities Act of 1933 extending a “test-the-waters” accommodation, previously available only to emerging growth companies (“EGCs”), to all issuers.
VinDAX Is the Seventh Cryptocurrency Exchange Hacked This Year: What Should Investors Be Considering?
- Nov 21, 2019
- Publications
VinDAX Is the Seventh Cryptocurrency Exchange Hacked This Year: What Should Investors Be Considering?
On November 5, 2019, Vietnam-based cryptocurrency exchange VinDAX was hacked, losing half a million U.S. dollars’ worth of funds spread across 23 different cryptocurrencies.[1]
ISS and Glass Lewis Publish 2020 Voting Policies
- Nov 18, 2019
- Publications
ISS and Glass Lewis Publish 2020 Voting Policies
U.S. proxy advisory firms Institutional Shareholder Services (“ISS”) and Glass Lewis have issued updates to their respective voting policies for the 2020 proxy season.
SEC Proposes Amendments to Improve Accuracy and Transparency of Proxy Voting Advice and Modernize Shareholder Proposal Rules
- Nov 14, 2019
- Publications
SEC Proposes Amendments to Improve Accuracy and Transparency of Proxy Voting Advice and Modernize Shareholder Proposal Rules
Last week, the Securities and Exchange Commission voted 3-2 to propose amendments to its proxy solicitation rules as applicable to proxy voting advice and its Rule 14a-8 shareholder proposal procedures.
SEC Extends the “Test-the-Waters” Accommodation to All Issuers
- Oct 01, 2019
- Publications
SEC Extends the “Test-the-Waters” Accommodation to All Issuers
On September 26, the U.S. Securities and Exchange Commission (the “SEC”) announced that it has adopted a new rule under the U.S. Securities Act of 1933 (the “Securities Act”) extending a “test-the-waters” accommodation, currently…
Full Effectiveness of New EU Prospectus Regulation Requires New EEA Legends and Selling Restrictions
- Sep 20, 2019
- Publications
Full Effectiveness of New EU Prospectus Regulation Requires New EEA Legends and Selling Restrictions
On July 21, Regulation (EU) 2017/1129 (the “Prospectus Regulation”) came fully into force, repealing and replacing Directive 2003/71/EC, as amended (the “Prospectus Directive”).
SEC Issues Guidance on Proxy Voting Responsibilities of Investment Advisers and the Applicability of Proxy Rules to Proxy Voting Advice
- Aug 28, 2019
- Publications
SEC Issues Guidance on Proxy Voting Responsibilities of Investment Advisers and the Applicability of Proxy Rules to Proxy Voting Advice
On August 21, 2019, the Securities and Exchange Commission (“SEC”) approved much anticipated guidance regarding the applicability of proxy rules to proxy voting advice and related guidance regarding proxy voting responsibilities of…
SEC Proposes to Modernize Descriptions of Business and Legal Proceedings, and Risk Factor Disclosures, Under Regulation S-K
- Aug 21, 2019
- Publications
SEC Proposes to Modernize Descriptions of Business and Legal Proceedings, and Risk Factor Disclosures, Under Regulation S-K
On August 8, 2019, the Securities and Exchange Commission proposed amendments to Regulation S-K that aim to modernize the descriptions of business and legal proceedings, and risk factor disclosure requirements.
A “No-Deal” Brexit: What could it mean, and can it be prevented?
- Aug 16, 2019
- Publications
A “No-Deal” Brexit: What could it mean, and can it be prevented?
Britain has a new Prime Minister and a new cabinet. In spite of the change in the leadership of the Conservative Party, the dominant question remains: what of Brexit?
FCA Publishes New Related Party Transaction Rules
- Jul 01, 2019
- Publications
FCA Publishes New Related Party Transaction Rules
In May, the Financial Conduct Authority (“FCA”) published “Policy Statement: PS 19/13, Proposals to promote shareholder engagement: Feedback to CP19/7 and final rules” discussing the implementation of the new related party transaction …
SEC Adopts New Standard of Conduct for Broker-Dealers
- Jun 25, 2019
- Publications
SEC Adopts New Standard of Conduct for Broker-Dealers
On June 5, 2019, by a vote of 3-1, the Securities and Exchange Commission adopted a package of rulemakings and interpretations addressing investors’ relationships with broker-dealers and investment advisers.
Brexit Lexicon: Update
- Jun 25, 2019
- Publications
Brexit Lexicon: Update
As an aid to those trying to keep track of the moving pieces in Britain and across the Channel as the Brexit saga continues, we summarize in this update of our Brexit Lexicon the key concepts, key players and, most importantly, key…
UK IPO Reforms: One Year On
- Jun 17, 2019
- Publications
UK IPO Reforms: One Year On
On July 1, 2018, the revised Financial Conduct Authority (“FCA”) rules on the availability of information in the UK IPO process became effective. The rules were introduced with a goal of improving the quality and timeliness of…
SEC Proposes to Amend Definitions of “Accelerated Filer” and “Large Accelerated Filer”
- May 23, 2019
- Publications
SEC Proposes to Amend Definitions of “Accelerated Filer” and “Large Accelerated Filer”
In May 2019, the SEC announced a proposal to amend the definitions of “accelerated filer” and “large accelerated filer” under Rule 12b-2 of the Exchange Act, in an ongoing effort to reduce costs and reporting requirements for…
SEC Proposes to Streamline Disclosures Relating to Acquisitions and Dispositions
- May 13, 2019
- Publications
SEC Proposes to Streamline Disclosures Relating to Acquisitions and Dispositions
On May 3, the SEC proposed rule changes (available here) to streamline the information that investors receive in connection with significant acquisitions of other businesses.
SEC Adopts Rules Modifying and Simplifying Regulation S-K
- Apr 02, 2019
- Publications
SEC Adopts Rules Modifying and Simplifying Regulation S-K
The SEC has adopted amendments (the “Amendments,” available here) to Regulation S-K and related rules and forms to modernize and simplify disclosure requirements for public companies, investment advisers and investment companies.
Brexit Lexicon: Update
- May 30, 2019
- Publications
Brexit Lexicon: Update
As an aid to those trying to keep track of the moving pieces in Britain and across the Channel as the Brexit saga continues, we summarize in this update of our Brexit Lexicon the key concepts, key players and, most importantly, key…
SEC Approves Nasdaq Rule Change to Facilitate Listing Without an Initial Public Offering
- Mar 13, 2019
- Publications
SEC Approves Nasdaq Rule Change to Facilitate Listing Without an Initial Public Offering
In February 2019, The Nasdaq Stock Market LLC (“Nasdaq”) filed notice with the SEC of a proposed rule change creating new Listing Rule IM-5315-1 (available here; the text of the revised rule is available here) to the Nasdaq Global…
Mark Bergman to Participate in PLI’s Annual Institute on Securities Regulation in Europe
- Mar 14, 2019
- Events
Mark Bergman to Participate in PLI’s Annual Institute on Securities Regulation in Europe
London-based securities partner Mark Bergman will speak on a panel at the Practising Law Institute’s 18th Annual Institute on Securities Regulation in Europe.
Brexit Lexicon: Update
- Mar 08, 2019
- Publications
Brexit Lexicon: Update
As an aid to those trying to keep track of the moving pieces in Britain and across the Channel as the Brexit deadline of March 29, 2019 approaches, we set out in this update of our Brexit Lexicon the key concepts, key players and,…
SEC Proposes to Expand “Test-the-Waters” Accommodation
- Feb 20, 2019
- Publications
SEC Proposes to Expand “Test-the-Waters” Accommodation
On February 19, the SEC proposed a rule (available here) that would expand the “test-the-waters” accommodation—currently available only to emerging growth companies, or “EGCs”—to all issuers, including investment company issuers.
The EU and the UK Publish Guidance on Prospectuses Applicable in the Event of No-Deal Brexit
- Feb 11, 2019
- Publications
The EU and the UK Publish Guidance on Prospectuses Applicable in the Event of No-Deal Brexit
The European Securities and Markets Authority (“ESMA”) has issued updates to its guidance on prospectuses in the form of new questions and answers (“Q&As”) relating to the Prospectus Directive (available here) and Transparency…
Brexit Lexicon: Update
- Feb 04, 2019
- Publications
Brexit Lexicon: Update
As an aid to those trying to keep track of the moving pieces in Britain and across the Channel as the Brexit deadline of March 29, 2019 approaches, we set out in this Brexit Lexicon the key concepts and players, which we continue to…
2018 Year-End U.S. Legal & Regulatory Developments Affecting Canadian Companies
- Jan 31, 2019
- Videos
2018 Year-End U.S. Legal & Regulatory Developments Affecting Canadian Companies
In this video, corporate partners Chris Cummings and Andrew Foley discuss significant U.S. legal and regulatory developments during 2018 that may be of interest to Canadian companies and their advisors.
Court Upholds SEC Authority and Finds Broker-Dealer Liable for Thousands of Suspicious Activity Reporting Violations
- Jan 07, 2019
- Publications
Court Upholds SEC Authority and Finds Broker-Dealer Liable for Thousands of Suspicious Activity Reporting Violations
On December 11, 2018, the Securities and Exchange Commission (SEC) obtained a victory in its enforcement action against Alpine Securities Corporation, a broker that cleared transactions for microcap securities that were allegedly used …
Takeaways from the AICPA’s 2018 Conference on Current SEC and PCAOB Developments
- Jan 08, 2019
- Publications
Takeaways from the AICPA’s 2018 Conference on Current SEC and PCAOB Developments
In mid-December 2018, speakers and panelists representing regulatory and standard-setting bodies as well as auditors, registrants, securities counsel and other industry experts gathered in Washington D.C. for the 2018 AICPA Conference …
SEC Adopts Final Rules for Disclosure of Hedging Policies
- Jan 03, 2019
- Publications
SEC Adopts Final Rules for Disclosure of Hedging Policies
After several years of consideration, the Securities and Exchange Commission has adopted final rules to require disclosure of hedging practices or policies in proxy and information statements relating to the election of directors.
Winter 2018 Securities Practice Update
- Dec 19, 2018
- Publications
Winter 2018 Securities Practice Update
SEC Chair Reminds Reporting Companies of the Importance of Brexit-Related Disclosures
- Dec 11, 2018
- Publications
SEC Chair Reminds Reporting Companies of the Importance of Brexit-Related Disclosures
Since the June 2016 Brexit referendum, we have chronicled in a series of alerts the tremendous level of uncertainty and the potentially far reaching effects of the different Brexit scenarios.
U.S. Stay Regulations and the ISDA 2018 U.S. Resolution Stay Protocol
- Nov 27, 2018
- Publications
U.S. Stay Regulations and the ISDA 2018 U.S. Resolution Stay Protocol
U.S. regulations imposing stay requirements on the terms of swaps, repurchase agreements and other qualified financial contracts of globally systemically important banks (GSIBs) take effect on January 1, 2019 in support of a policy…
Brexit Lexicon: Update
- Nov 26, 2018
- Publications
Brexit Lexicon: Update
As an aid to those trying to keep track of the moving pieces, we set out below the key concepts and players in a slightly different format. This update reflects events up through November 25th, the date on which the draft Withdrawal…
Brexit Update: Agreement Reached by Negotiators but may be rejected by UK Parliament, and Significant Uncertainties Remain
- Nov 26, 2018
- Publications
Brexit Update: Agreement Reached by Negotiators but may be rejected by UK Parliament, and Significant Uncertainties Remain
Following months of negotiations, on November 25th, the negotiating teams for the UK Government, led by Prime Minister Theresa May, and the European Union, led by its chief Brexit negotiator Michel Barnier, reached agreement on a…
Q3 & Q2 2018 U.S. Legal and Regulatory Developments Affecting Canadian Companies
- Nov 07, 2018
- Videos
Q3 & Q2 2018 U.S. Legal and Regulatory Developments Affecting Canadian Companies
In this video, corporate partners Andrew Foley and Ted Maynard discuss significant U.S. legal and regulatory developments during the third and second quarters of 2018 that may be of interest to Canadian companies and their advisors.
SEC Issues Report Reminding Registrants to Consider Cyber Threats When Implementing Internal Accounting Controls
- Oct 29, 2018
- Publications
SEC Issues Report Reminding Registrants to Consider Cyber Threats When Implementing Internal Accounting Controls
On October 16, 2018, the Securities and Exchange Commission (the “SEC”) issued a Report of Investigation (“Report”) (available here) cautioning public companies to carefully consider cyber threats when implementing and maintaining…
AFME and Euro IRP Publish Guidance on New Rules Governing UK IPO Process
- Oct 15, 2018
- Publications
AFME and Euro IRP Publish Guidance on New Rules Governing UK IPO Process
The Association for Financial Markets in Europe (“AFME”) and the European Association of Independent Research Providers (“Euro IRP”) recently published industry-wide guidance (the “Guidance”) in respect of the rules adopted by the UK…
The Financial Crisis 10 Years Later: Lessons Learned
- Sep 15, 2018
- Publications
The Financial Crisis 10 Years Later: Lessons Learned
Ten years after the collapse of Lehman Brothers, market participants and other global companies operate in a markedly changed regulatory enforcement and compliance landscape. This memorandum discusses the legal and business…
SEC Adopts Updates to Rationalize Disclosure Requirements
- Sep 04, 2018
- Publications
SEC Adopts Updates to Rationalize Disclosure Requirements
On August 17, 2018, the Securities and Exchange Commission (the “SEC”) adopted amendments (available here) to certain of its disclosure requirements that have become redundant, duplicative, overlapping, outdated or superseded, in…
Risk of a “no deal” Brexit: How should businesses respond?
- Aug 29, 2018
- Publications
Risk of a “no deal” Brexit: How should businesses respond?
With exactly seven months remaining until the United Kingdom is scheduled to withdraw from the European Union, its negotiations with the EU on the terms of its withdrawal and its future relationship are, in the words of Prime Minister …
Brexit Lexicon: Update
- Aug 30, 2018
- Publications
Brexit Lexicon: Update
As the Brexit negotiations between the UK and the EU27 (not to mention the internecine battles among factions in the Conservative Party, the cabinet and Parliament) continue, keeping track of the players and their positions, and where …
SEC Proposes Simplified Disclosure Requirements for Guaranteed and Secured Notes in Registered Offerings
- Aug 06, 2018
- Publications
SEC Proposes Simplified Disclosure Requirements for Guaranteed and Secured Notes in Registered Offerings
The SEC recently proposed rules that amend and simplify disclosure requirements for issuers and guarantors of registered offerings of guaranteed and secured notes. The proposed rules are intended to focus disclosures on material…
SEC Adopts Final Rules Raising Rule 701 Disclosure Threshold
- Jul 26, 2018
- Publications
SEC Adopts Final Rules Raising Rule 701 Disclosure Threshold
The SEC recently adopted final rules to revise Securities Act Rule 701(e), which allows private companies to offer securities to employees without having to comply with federal registration requirements.
SEC Broadens Definition of “Smaller Reporting Company” and Requires Inline XBRL in Certain Filings
- Jul 05, 2018
- Publications
SEC Broadens Definition of “Smaller Reporting Company” and Requires Inline XBRL in Certain Filings
On June 28, the SEC voted on several final rules and rule proposals, including the adoption of final rules that broaden the definition of “smaller reporting company” and that require the use of the Inline XBRL format in certain…
Brexit Update: Keeping Track of the Moving Pieces
- Jul 02, 2018
- Publications
Brexit Update: Keeping Track of the Moving Pieces
The second anniversary of the Brexit referendum is upon us, an entirely inconclusive meeting between Prime Minister Theresa May and her fellow members of the European Council has just ended, and the proverbial clock continues to count …
FCA Publishes a Consultation on an Update to a Technical Note on Periodic Financial Information and Inside Information
- Jun 19, 2018
- Publications
FCA Publishes a Consultation on an Update to a Technical Note on Periodic Financial Information and Inside Information
On June 11, 2018, the UK Financial Conduct Authority (the “FCA”) published a special edition of its Primary Market Bulletin containing a consultation (the “Consultation”) on an update to its existing guidance on periodic financial…
Federal Agencies Propose Amendments to Volcker Rule
- Jun 08, 2018
- Publications
Federal Agencies Propose Amendments to Volcker Rule
The SEC, following approval by the Federal Reserve, Treasury, the FDIC and the CFTC, recently proposed amendments to the “Volcker Rule,” a key element of the Dodd-Frank Act. The proposed amendment are designed to simplify the Volcker…
President Signs Dodd-Frank Reform Legislation
- May 31, 2018
- Publications
President Signs Dodd-Frank Reform Legislation
On May 24, following passage in both the House and Senate earlier this year, President Trump signed into law a financial services reform bill relaxing certain elements of the Dodd-Frank Wall Street Reform and Consumer Protection Act…
Securities Practice Update (Spring 2018)
- May 24, 2018
- Publications
Securities Practice Update (Spring 2018)
On February 21, the SEC issued an interpretive release providing guidance to assist reporting companies in preparing disclosures concerning cybersecurity risks and incidents.
SEC Proposes New Standard of Conduct for Broker-Dealers
- May 07, 2018
- Publications
SEC Proposes New Standard of Conduct for Broker-Dealers
On April 18, 2018, by a vote of 4-1, the Securities and Exchange Commission proposed a package of rulemaking and interpretations addressing investors’ relationships with broker-dealers and investment advisers.
Yahoo! Agrees to $35 Million SEC Penalty for Failure to Disclose Cyber Incident
- May 03, 2018
- Publications
Yahoo! Agrees to $35 Million SEC Penalty for Failure to Disclose Cyber Incident
On April 24, 2018, the Securities and Exchange Commission announced that Altaba, the company formerly known as Yahoo! Inc., agreed to pay a $35 million penalty as part of a cease-and-desist order to settle charges that it misled…
Key Implications of the EU’s new PRIIPs and MiFID II Regimes for Offerings of Debt Securities
- May 03, 2018
- Publications
Key Implications of the EU’s new PRIIPs and MiFID II Regimes for Offerings of Debt Securities
Two new European regulatory regimes came into force in January 2018, bringing about sweeping changes for many market participants involved in offers and sales of financial instruments in Europe.
Implications of the New EU Data Protection Regime and Its Expanded Application for Non-EU Entities
- Apr 26, 2018
- Publications
Implications of the New EU Data Protection Regime and Its Expanded Application for Non-EU Entities
The EU General Data Protection Regulation (the “GDPR”), approved and adopted by the European Union in April 2016, takes effect in all member states of the European Union on May 25, 2018.
CAQ Publishes a Roadmap of Non-GAAP Financial Measures for Audit Committees
- Apr 23, 2018
- Publications
CAQ Publishes a Roadmap of Non-GAAP Financial Measures for Audit Committees
On March 16, 2018, the Center for Audit Quality (the “CAQ”) published Non-GAAP Financial Measures: A Roadmap for Audit Committees (the “Roadmap”) to provide guidance to audit committees on advancing their oversight and involvement…
SEC Brings Rule 701 Enforcement Action for Failure to Provide Required Disclosure
- Mar 23, 2018
- Publications
SEC Brings Rule 701 Enforcement Action for Failure to Provide Required Disclosure
On March 12, 2018, the Securities and Exchange Commission (the “SEC”) issued a cease-and-desist order against Credit Karma, Inc. (“Karma”) for failure to comply with the disclosure requirements of Rule 701 promulgated under the…
Senate Passes Act Limiting Scope of Dodd-Frank Act
- Mar 20, 2018
- Publications
Senate Passes Act Limiting Scope of Dodd-Frank Act
The Senate recently voted 67-31 in favor of the Economic Growth, Regulatory Relief and Consumer Protection Act. The legislation, if enacted into law, would represent one of the most significant changes to the Dodd-Frank Wall Street…
Fifth Circuit Vacates DOL’s ERISA Fiduciary Rule; DOL Announces Non-Enforcement Policy, Pending Further Review
- Mar 20, 2018
- Publications
Fifth Circuit Vacates DOL’s ERISA Fiduciary Rule; DOL Announces Non-Enforcement Policy, Pending Further Review
The U.S. Court of Appeals for the Fifth Circuit recently set aside the Department of Labor’s (DOL) so-called “fiduciary rule,” holding that it exceeded the regulatory authority granted to DOL by the Employee Retirement Income Security …
SEC Issues Updated Guidance on Cybersecurity Disclosure
- Feb 27, 2018
- Publications
SEC Issues Updated Guidance on Cybersecurity Disclosure
The SEC recently provided updated guidance on cybersecurity-related disclosure obligations. We discuss the SEC’s new interpretive guidance, which seeks to assist companies in preparing disclosure concerning cybersecurity risks and…
SEC Approves NYSE Rule Change to Facilitate Listing Without an Initial Public Offering
- Feb 15, 2018
- Publications
SEC Approves NYSE Rule Change to Facilitate Listing Without an Initial Public Offering
The SEC recently approved a rule change proposed by the New York Stock Exchange designed to facilitate the direct listing of company shares without conducting an IPO.
Keeping Track of the Moving Pieces–Our Brexit Lexicon
- Jan 23, 2018
- Publications
Keeping Track of the Moving Pieces–Our Brexit Lexicon
Headlines in mid-December trumpeted a breakthrough on the Brexit discussions between the UK and the EU27.
For our most recent update click here.
Q4 2017 U.S. Legal & Regulatory Developments Affecting Canadian Companies
- Jan 11, 2018
- Videos
Q4 2017 U.S. Legal & Regulatory Developments Affecting Canadian Companies
In this video, corporate partners Andrew Foley and Ted Maynard discuss the significant U.S. legal and regulatory developments during the fourth quarter of 2017 of interest to Canadian companies and their advisors.
SEC Provides Guidance for Disclosure and Accounting Implications of Tax Cuts and Jobs Act
- Jan 10, 2018
- Publications
SEC Provides Guidance for Disclosure and Accounting Implications of Tax Cuts and Jobs Act
On December 22, 2017, the Securities and Exchange Commission (the “SEC”) published new guidance for SEC reporting companies, auditors and others to help ensure timely public disclosures of the accounting impacts of the Tax Cuts and…
Client Alert: Keeping Track of the Moving Pieces as the Brexit Negotiations Move into the Second, and More Difficult, Phase
- Dec 21, 2017
- Publications
Client Alert: Keeping Track of the Moving Pieces as the Brexit Negotiations Move into the Second, and More Difficult, Phase
Recent headlines trumpeted a breakthrough on the Brexit discussions between the UK and the EU27 and, while it is correct that an important milestone has been achieved, many observers see the next phase as the hard part because…
Brexit Breakthrough with Very Tough Choices Ahead
- Dec 12, 2017
- Publications
Brexit Breakthrough with Very Tough Choices Ahead
The publication on Friday morning (December 8) of the Joint Report from the Negotiators of the European Union and the United Kingdom Government on Progress during Phase 1 of Negotiations Under Article 50 TEU on the United Kingdom’s…
SEC Approves Revised NYSE Material News Release Rule
- Dec 12, 2017
- Publications
SEC Approves Revised NYSE Material News Release Rule
The SEC has approved an NYSE rule change prohibiting listed companies from issuing material news after the official closing time for the NYSE’s trading session until the earlier of 4:05 p.m. Eastern Time or the publication of the…
The SEC Is Open for Business: Takeaways from the AICPA’s 2017 Conference on Current PCAOB and SEC Developments
- Dec 08, 2017
- Publications
The SEC Is Open for Business: Takeaways from the AICPA’s 2017 Conference on Current PCAOB and SEC Developments
One of the key messages conveyed by the Staff (the “Staff”) of the SEC’s Division of Corporation Finance (the “Division”) at the annual gathering in Washington, D.C. for the AICPA’s 2017 Conference on Current PCAOB and SEC…
FCA Adopts Changes to Rules Governing Availability of Information for IPOs
- Nov 13, 2017
- Publications
FCA Adopts Changes to Rules Governing Availability of Information for IPOs
The UK Financial Conduct Authority (the “FCA”) recently published a policy statement (the “Policy Statement”) that addresses the availability of information as part of the initial public offering (“IPO”) process in the United Kingdom.
The FCA Adopts a Number of Technical and Structural Changes to the UK Listing Regime
- Nov 08, 2017
- Publications
The FCA Adopts a Number of Technical and Structural Changes to the UK Listing Regime
On October 26, 2017, the UK Financial Conduct Authority (the “FCA”) published a policy statement (the “Policy Statement”) that introduces a number of changes to the UK Listing Rules (“LRs”) and related guidance.
SEC Staff Provides Rule 701(e) Guidance Addressing Industry Concerns over Confidentiality of Financial Statements
- Nov 08, 2017
- Publications
SEC Staff Provides Rule 701(e) Guidance Addressing Industry Concerns over Confidentiality of Financial Statements
Private companies granting share-based compensation to their employees often will rely on Rule 701 under the Securities Act of 1933 (the “Securities Act”), particularly if the employees being granted options or restricted stock units…
MiFID II Unbundling Rules: Implications for Asset Managers and Broker-Dealers in the United States
- Nov 01, 2017
- Publications
MiFID II Unbundling Rules: Implications for Asset Managers and Broker-Dealers in the United States
On January 3, 2018, the European Union’s revised Markets in Financial Instruments Directive (“MiFID II Directive”) and the new Markets in Financial Instruments Regulation (“MiFIR,” and together with the MiFID II Directive, “MiFID II”) …
SEC Issues Proposed Amendments Modifying and Simplifying Regulation S-K
- Oct 23, 2017
- Publications
SEC Issues Proposed Amendments Modifying and Simplifying Regulation S-K
The SEC has proposed amendments to Regulation S-K and related rules to improve readability and navigability of disclosure documents and to discourage disclosure of immaterial or repetitive information. We discuss the proposed…
Treasury Issues Report Outlining Proposed Reforms to U.S. Capital Markets
- Oct 16, 2017
- Publications
Treasury Issues Report Outlining Proposed Reforms to U.S. Capital Markets
The Department of the Treasury recently issued a report outlining proposed changes to U.S. capital markets regulations, providing a regulatory “road map” for the SEC and the CFTC. The reforms, including several aimed at expanding and…
Q3 2017 U.S. Legal & Regulatory Developments Affecting Canadian Companies
- Oct 12, 2017
- Videos
Q3 2017 U.S. Legal & Regulatory Developments Affecting Canadian Companies
In this video, corporate partners Andrew Foley and Ted Maynard discuss the significant U.S. legal and regulatory developments during the third quarter of 2017 of interest to Canadian companies and their advisors.
Mark Bergman and Sofia Martos Co-Author Article in Securities Law Daily
- Oct 05, 2017
- Publications
Mark Bergman and Sofia Martos Co-Author Article in Securities Law Daily
London-based partner Mark Bergman and associate Sofia Martos published an article in the October 5 edition of Bloomberg BNA Securities Law Daily.
Client Alert: SEC Issues Pay Ratio Guidance
- Sep 28, 2017
- Publications
Client Alert: SEC Issues Pay Ratio Guidance
On September 21, the Securities and Exchange Commission (“SEC”) and its Division of Corporation Finance issued interpretative guidance on the calculation of CEO pay ratio disclosure for public companies.
Screening of Foreign Investments in the EU
- Sep 27, 2017
- Publications
Screening of Foreign Investments in the EU
The European Commission recently issued a proposed regulation establishing a framework for screening foreign investments into the European Union. The regulation, if adopted, would authorize EU member states, as well as the Commission…
Mark Bergman to Participate in PLI Webcast
- Sep 25, 2017
- Events
Mark Bergman to Participate in PLI Webcast
London-based securities partner Mark Bergman will participate in an hour-long briefing by the Practising Law Institute, “Accessing the U.S. Capital Markets From Europe Without SEC Registration: Understanding the Interplay Between…
Q2 2017 U.S. Legal & Regulatory Developments Affecting Canadian Companies
- Aug 22, 2017
- Videos
Q2 2017 U.S. Legal & Regulatory Developments Affecting Canadian Companies
In this video, corporate partners Andrew Foley and Ted Maynard discuss the significant U.S. legal and regulatory developments during the second quarter of 2017 of interest to Canadian companies and their advisors.
ISDA Publishes T+2 Settlement Protocol
- Aug 08, 2017
- Publications
ISDA Publishes T+2 Settlement Protocol
Recently, the International Swaps and Derivatives Association published the ISDA 2017 OTC Equity Derivatives T+2 Settlement Cycle Protocol, the newest installment of ISDA’s mechanism aimed at facilitating the multilateral and…
The European Union Publishes Its Final Prospectus Regulation
- Jul 11, 2017
- Publications
The European Union Publishes Its Final Prospectus Regulation
On June 30, 2017, the final text of a new EU regulation entitled “Regulation on the prospectus to be published when securities are being offered to public or admitted to trading on a regulated market” (the “Prospectus Regulation”)was…
SEC Permits All Issuers to Submit Certain Registration Statements on a Confidential Basis
- Jul 07, 2017
- Publications
SEC Permits All Issuers to Submit Certain Registration Statements on a Confidential Basis
The SEC will allow all issuers to submit for review IPO draft registration statements and certain other registrations on a confidential basis beginning July 10.
Treasury Issues Report Outlining Reforms to U.S. Banking Regulation
- Jun 20, 2017
- Publications
Treasury Issues Report Outlining Reforms to U.S. Banking Regulation
The Treasury Department recently issued the first of four reports in response to President Trump’s February executive order setting forth “Core Principles” intended to guide U.S. financial regulatory system reform. This first report…
House Approves Financial CHOICE Act
- Jun 12, 2017
- Publications
House Approves Financial CHOICE Act
On June 8, the House of Representatives passed a revised version of the Financial CHOICE Act that would repeal or modify significant portions of the Dodd-Frank Act and address a wide range of other financial regulations.
PCAOB Adopts New Audit Standard Requiring Disclosure of Critical Audit Matters
- Jun 09, 2017
- Publications
PCAOB Adopts New Audit Standard Requiring Disclosure of Critical Audit Matters
On June 1, the Public Company Accounting Oversight Board adopted a new audit standard requiring disclosure of “critical audit matters” in the auditor’s report. The new audit standard is subject to approval by the SEC.
Q1 2017 U.S. Legal Developments Affecting Canadian Companies
- May 04, 2017
- Videos
Q1 2017 U.S. Legal Developments Affecting Canadian Companies
There was a flurry of U.S. legal and regulatory developments during the first quarter of 2017.
Ray Russo to Participate in PLI Seminar on Private Placements and Hybrid Securities Offerings
- May 22, 2017
- Events
Ray Russo to Participate in PLI Seminar on Private Placements and Hybrid Securities Offerings
Corporate partner Raphael Russo will speak at the Practicing Law Institute’s 2017 Private Placements and Hybrid Securities Offerings seminar.
President Directs Review of Dodd-Frank Provisions
- Apr 27, 2017
- Publications
President Directs Review of Dodd-Frank Provisions
President Trump recently directed the review of provisions of the Dodd-Frank Act relating to orderly liquidation of non-bank financial institutions and the powers of the Financial Stability Oversight Council. While not resulting in…
SEC Reporting Requirements: Updates and Trends
- Apr 11, 2017
- Videos
SEC Reporting Requirements: Updates and Trends
The Securities and Exchange Commission has issued a notice with new disclosure requirements that further modernize reporting standards.
SEC Issues Statements Following Recent Conflict Minerals Decision
- Apr 10, 2017
- Publications
SEC Issues Statements Following Recent Conflict Minerals Decision
Following a recent judgment by the D.C. District Court finding that certain provisions of the SEC’s “conflict minerals” disclosure rule violate companies’ First Amendment rights, the SEC has indicated that it will not enforce those…
Delaware Supreme Court Affirms Decision Permitting Merger Termination Based on Failure to Satisfy Tax Opinion Covenant
- Mar 27, 2017
- Publications
Delaware Supreme Court Affirms Decision Permitting Merger Termination Based on Failure to Satisfy Tax Opinion Covenant
In a 4-1 split decision in The Williams Cos., Inc. v. Energy Transfer Equity, L.P., et al., the Delaware Supreme Court affirmed the Court of Chancery’s decision permitting termination of a merger agreement by the acquirer based on the …
SEC Adopts T+2 Settlement Cycle for Securities Transactions
- Mar 23, 2017
- Publications
SEC Adopts T+2 Settlement Cycle for Securities Transactions
On March 22, 2017, the Securities and Exchange Commission (“SEC”) adopted, as proposed, an amendment to Rule 15c6-1(a) under the Securities Exchange Act of 1934 to shorten by one business day the standard settlement cycle for most…
The FCA Proposes a Number of Technical and Structural Changes to the UK Listing Regime in its Latest Review of UK Primary Markets
- Mar 14, 2017
- Publications
The FCA Proposes a Number of Technical and Structural Changes to the UK Listing Regime in its Latest Review of UK Primary Markets
In line with its objective of ensuring the UK capital markets function well and remain effective, last year the UK Financial Conduct Authority (the “FCA”) committed, as part of its 2016/17 Business Plan, to conduct a review of the…
Recent SEC Disclosure Developments
- Mar 03, 2017
- Publications
Recent SEC Disclosure Developments
On March 1, 2017, the Securities and Exchange Commission issued several proposed and final rules intended to update certain disclosure requirements. This memorandum describes the updated rules, which affect a variety of issuers.
President Signs Executive Order on Core Principles for Regulating the U.S. Financial System
- Feb 09, 2017
- Publications
President Signs Executive Order on Core Principles for Regulating the U.S. Financial System
On February 3, President Donald Trump signed an executive order setting forth "Core Principles" intended to guide the regulation of the U.S. financial system. Although not specifically mentioned, revisions to the Dodd-Frank Act are…
Client Alert: Allergan Pays $15 Million Fine For Failure to Disclose Merger Negotiations
- Jan 19, 2017
- Publications
Client Alert: Allergan Pays $15 Million Fine For Failure to Disclose Merger Negotiations
The SEC recently announced a settlement with Allergan, Inc., under which Allergan agreed to pay a $15 million penalty and admitted to violating requirements to update prior disclosure to reflect M&A negotiations in which the…
Client Alert: Second Circuit Holds that Trust Indenture Act 316(b) Prohibits Only Non-Consensual Amendments to Core Payment Terms of Bond Indentures
- Jan 18, 2017
- Publications
Client Alert: Second Circuit Holds that Trust Indenture Act 316(b) Prohibits Only Non-Consensual Amendments to Core Payment Terms of Bond Indentures
On January 17, 2017, the Court of Appeals for the Second Circuit issued its long-anticipated opinion in Marblegate Asset Management, LLC v. Education Management Finance Corp., ruling that Section 316(b) of the Trust Indenture…
2016 U.S. Legal and Regulatory Developments
- Jan 09, 2017
- Publications
2016 U.S. Legal and Regulatory Developments
The following is a roundup of significant U.S. legal and regulatory developments during 2016 of interest to Canadian companies and their advisors.
Client Alert: ISS and Glass Lewis Publish 2017 U.S. Voting Policies
- Dec 02, 2016
- Publications
Client Alert: ISS and Glass Lewis Publish 2017 U.S. Voting Policies
U.S. proxy advisory firms ISS and Glass Lewis recently issued their respective voting policies for the 2017 proxy season. In this client memorandum, we summarize key policy changes. The changes show a consensus in approach…
Q3 U.S. Legal Developments Affecting Canadian Companies
- Nov 10, 2016
- Videos
Q3 U.S. Legal Developments Affecting Canadian Companies
In this video, corporate partner Andrew Foley, a member of the Canadian Practice Group, discusses third-quarter U.S. legal developments that could impact Canadian companies and their advisors, including increased scrutiny of…
Client Alert: SEC Staff Issues Interpretive Guidance on Rule 144 Holding Period for Common Stock in UP-C Structures
- Nov 03, 2016
- Publications
Client Alert: SEC Staff Issues Interpretive Guidance on Rule 144 Holding Period for Common Stock in UP-C Structures
On November 1, 2016, the staff of the Securities and Exchange Commission's Division of Corporation Finance issued an interpretive letter concluding that, for purposes of Rule 144 of the Securities Act, the holding period for…
Client Alert: High Court Rules U.K. Government Cannot Trigger Brexit Without Parliamentary Authorization
- Nov 03, 2016
- Publications
Client Alert: High Court Rules U.K. Government Cannot Trigger Brexit Without Parliamentary Authorization
The U.K. High Court today held that the U.K. Secretary of State does not have the power to give notice pursuant to Article 50 of the Treaty on the European Union for the nation to withdraw from the European Union. According …
Client Alert: SEC Proposes Mandatory Universal Proxies in Contested Elections and Voting Procedure Enhancements
- Oct 31, 2016
- Publications
Client Alert: SEC Proposes Mandatory Universal Proxies in Contested Elections and Voting Procedure Enhancements
The Securities and Exchange Commission has voted 2 to 1 to propose to require the use of universal proxy cards by both companies and dissidents in contested director elections. While both sides would still be able to use…
October 2016: Private Equity Digest
- Oct 21, 2016
- Publications
October 2016: Private Equity Digest
In this edition of the Paul, Weiss Private Equity Digest, we discuss China-U.S. crossborder deal risks for U.S. sellers and possible ways to address those risks.
Client Alert: Q3 2016 U.S. Legal and Regulatory Developments
- Oct 20, 2016
- Publications
Client Alert: Q3 2016 U.S. Legal and Regulatory Developments
The following is our summary of significant U.S. legal and regulatory developments during the third quarter of 2016 of interest to Canadian companies and their advisors.
Client Alert: SEC Adopts Amendments to Form ADV Regarding Separately Managed Accounts and Umbrella Registration
- Sep 15, 2016
- Publications
Client Alert: SEC Adopts Amendments to Form ADV Regarding Separately Managed Accounts and Umbrella Registration
On August 25, 2016, the SEC adopted amendments to Form ADV, and amendments to Rule 204-2 (the "Recordkeeping Rule") and certain other rules under the Investment Advisers Act of 1940, as amended (the "Advisers Act") which…
Client Alert: SEC Proposes Amendments to Require Hyperlinks to Exhibits in Filings
- Sep 08, 2016
- Publications
Client Alert: SEC Proposes Amendments to Require Hyperlinks to Exhibits in Filings
The SEC recently proposed rule and form amendments that would require SEC registrants when filing registration statements or periodic or current reports that are subject to the exhibit requirements under Section 601 of Regulation …
Client Alert: Q2 2016 U.S. Legal and Regulatory Developments
- Aug 01, 2016
- Publications
Client Alert: Q2 2016 U.S. Legal and Regulatory Developments
The following is our summary of significant U.S. legal and regulatory developments during the second quarter of 2016 of interest to Canadian companies and their advisors.
Ray Russo to Speak at PLI’s Private Placements and Hybrid Securities Offerings Seminar
- Aug 01, 2016
- Events
Ray Russo to Speak at PLI’s Private Placements and Hybrid Securities Offerings Seminar
Corporate partner Ray Russo will participate in a panel discussion at the Practising Law Institute's "Private Placements and Hybrid Securities Offerings" seminar.
Client Alert: SEC Proposes Updates to Rationalize Disclosure Requirements
- Jul 21, 2016
- Publications
Client Alert: SEC Proposes Updates to Rationalize Disclosure Requirements
On July 13, 2016, the Securities and Exchange Commission proposed amendments to certain of its disclosure requirements that may have become redundant, duplicative, overlapping, outdated or superseded, in light of other SEC…
Mark Bergman and David Lakhdhir Co-Author Article on Effects of Brexit on Public Disclosure Obligations
- Jul 12, 2016
- Publications
Mark Bergman and David Lakhdhir Co-Author Article on Effects of Brexit on Public Disclosure Obligations
London-based corporate partners Mark Bergman and David Lakhdhir co-authored a client memorandum, titled "Brexit: Disclosure Implications for SEC Reporting Companies," that was featured in the July issues of Insights: The…
Brexit: Disclosure Implications for SEC Reporting Companies
- Jul 12, 2016
- Publications
Brexit: Disclosure Implications for SEC Reporting Companies
In the short period since the June 23 UK referendum on whether to remain in, or leave, the European Union, the United Kingdom has faced a remarkable range of political, monetary, economic and even constitutional…
Client Alert: SEC Adopts Disclosure Rules for Resource Extraction Issuers
- Jul 08, 2016
- Publications
Client Alert: SEC Adopts Disclosure Rules for Resource Extraction Issuers
On June 27, 2016, the Securities and Exchange Commission (the "SEC") adopted final rules requiring resource extraction issuers to disclose payments made to the U.S. federal government or foreign governments for the commercial…
Client Alert: SEC Proposes to Modernize Property Disclosures for Mining Registrants
- Jun 29, 2016
- Publications
Client Alert: SEC Proposes to Modernize Property Disclosures for Mining Registrants
On June 16, 2016, the Securities and Exchange Commission (the "SEC") announced proposed rules to modernize the property disclosure requirements for mining registrants, with the objective of aligning standards with current…
Brexit: What Comes Next? What Are the Potential Consequences?
- Jul 06, 2016
- Publications
Brexit: What Comes Next? What Are the Potential Consequences?
On June 23, 2016 voters in the United Kingdom were asked in a referendum whether the UK should remain a member of the European Union or leave the EU. By a vote of 51.9% to 48.1%, the voters opted to leave.
Client Alert: Implications of the New EU Market Abuse Regulation for Issuers of Securities Traded on EU Regulated Markets and Unregulated Exchanges in the European Union
- Jun 06, 2016
- Publications
Client Alert: Implications of the New EU Market Abuse Regulation for Issuers of Securities Traded on EU Regulated Markets and Unregulated Exchanges in the European Union
From July 3, 2016, a new market abuse regime, comprising the EU Market Abuse Regulation (596/2014/EU) ("MAR"), will apply to issuers with securities listed in the European Union.
Client Alert: SEC Updates Guidance on Use of Non-GAAP Financial Measures
- Jun 03, 2016
- Publications
Client Alert: SEC Updates Guidance on Use of Non-GAAP Financial Measures
The staff of the SEC's Division of Corporation Finance (the "Staff") has issued new and revised Compliance and Disclosure Interpretations ("C&DIs") addressing the use of non-GAAP financial measures.
Client Alert: SEC Increases Thresholds for Exchange Act Registration
- May 09, 2016
- Publications
Client Alert: SEC Increases Thresholds for Exchange Act Registration
On May 3, 2016, the SEC adopted final rules, substantially as proposed in December 2014, under the Jumpstart Our Business Startups Act (the "JOBS Act") and the Fixing America's Surface Transportation Act (the "FAST Act") that…
Client Alert: SEC Publishes Concept Release on Revisions to Regulations S-K
- May 04, 2016
- Publications
Client Alert: SEC Publishes Concept Release on Revisions to Regulations S-K
In April 2016, the U.S. Securities and Exchange Commission (the "SEC") published a concept release (the "Release") seeking comment on modernizing certain disclosure requirements of Regulation S-K.
Client Alert: Financial Regulators Propose Incentive Compensation Rules under Dodd-Frank
- Apr 27, 2016
- Publications
Client Alert: Financial Regulators Propose Incentive Compensation Rules under Dodd-Frank
On April 21, 2016, the Securities and Exchange Commission, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Federal Housing…
April 2016: Private Equity Digest
- Apr 19, 2016
- Publications
April 2016: Private Equity Digest
In this edition of the Paul, Weiss Private Equity Digest, we take a look at the possibly revived PIPEs market and discuss key considerations for private equity investors looking to put capital to work in this space.
Client Alert: Treasury Issues Inversion Regulations, Proposes Sweeping Changes to Debt/Equity Classification
- Apr 11, 2016
- Publications
Client Alert: Treasury Issues Inversion Regulations, Proposes Sweeping Changes to Debt/Equity Classification
On April 4, 2016, as the most recent step in its ongoing battle against inversion transactions, the U.S. Department of Treasury issued both new temporary and proposed regulations addressing certain inversion and post-inversion…
February 2016: Private Equity Digest
- Feb 18, 2016
- Publications
February 2016: Private Equity Digest
In this edition of the Paul, Weiss Private Equity Digest, we review acquisition financing trends from 2015.
Crowdfunding and Small Business – The Impact of the JOBS Act and SEC Rules
- Feb 02, 2016
- Videos
Crowdfunding and Small Business – The Impact of the JOBS Act and SEC Rules
In this video, corporate partner Ray Russo discusses the phenomenon of crowdfunding, and new rules the SEC adopted under Title III of the JOBS Act that will permit private companies to conduct securities-based crowdfunding…
Awards & Recognition
Law360 Recognizes Four Paul, Weiss Practice Groups Among the Year’s Best
- Nov 29, 2020
- Awards
Law360 Recognizes Four Paul, Weiss Practice Groups Among the Year’s Best
Paul, Weiss won four Law360 “Practice Group of the Year” recognitions for the firm’s achievements in 2020 in the Capital Markets, Fund Formation, Private Equity and Securities categories.
Two Paul, Weiss Transactions Named Deals of the Year
- Mar 05, 2020
- Awards
Two Paul, Weiss Transactions Named Deals of the Year
Two Paul, Weiss transactions have been named 2019 “Deals of the Year” by the China Business Law Journal. The firm was recognized for its representation of China-based utilities company State Grid International Development Limited in…
Paul, Weiss Partners Receive Law360 Distinguished Writing Award
- Feb 26, 2019
- Awards
Paul, Weiss Partners Receive Law360 Distinguished Writing Award
Firm chairman Brad Karp, corporate partner Mark Bergman and litigation partners Susanna Buergel, Roberto Gonzalez, Jane O’Brien and Elizabeth Sacksteder have been selected to receive the Law360 Distinguished Writing Award at the 2019…
Two Paul, Weiss Transactions Named Deals of the Year
- Feb 13, 2019
- Awards
Two Paul, Weiss Transactions Named Deals of the Year
The China Business Law Journal has named two Paul, Weiss transactions as 2018 “Deals of the Year.”
Paul, Weiss Receives FinanceAsia 2018 Achievement Award
- Dec 13, 2018
- Awards
Paul, Weiss Receives FinanceAsia 2018 Achievement Award
Paul, Weiss was recognized by FinanceAsia at its annual Achievement Awards for the “Best Equity Deal.”
Paul, Weiss Wins Two ALB Japan Law Awards
- Jun 07, 2017
- Awards
Paul, Weiss Wins Two ALB Japan Law Awards
Paul, Weiss was recognized in two categories at the Asian Legal Business Japan Law Awards, including “Debt Market Deal of the Year” for our role in advising Mitsubishi UFJ Financial Group’s TLAC Bond Issuance, and “M&A Deal of the …
Paul, Weiss Shortlisted for Seven ALB Japan Law Awards
- May 08, 2017
- Awards
Paul, Weiss Shortlisted for Seven ALB Japan Law Awards
Paul, Weiss was shortlisted in seven categories by Asian Legal Business, a publication of Thomson Reuters, as part of the 2017 ALB Japan Law Awards.
Paul, Weiss Awarded Deal of the Year by Asian-mena Counsel
- Apr 20, 2017
- Awards
Paul, Weiss Awarded Deal of the Year by Asian-mena Counsel
Paul, Weiss was awarded a 2016 “Deal of the Year” by Asian-mena Counsel for our involvement as international counsel in MUFG’s groundbreaking TLAC (total loss-absorbing capacity) bond offering
Paul, Weiss Transaction Named Deal of the Year by Asia Business Law Journal
- Mar 10, 2017
- Awards
Paul, Weiss Transaction Named Deal of the Year by Asia Business Law Journal
Paul, Weiss was awarded “Deal of the Year – Capital Markets” by the Asia Business Law Journal for our role in representing IDG Capital and its portfolio company Titan Gas Technology Investment in Shun Cheong’s reverse takeover and new …