In June, I reported that Assemblymember Grayson had gutted and amended AB 2269 to establish a "Digital Financial Assets Law" to be administered by the Department of Financial Protection & Innovation. The bill was amended earlier this week to, among...
Does Anybody Really Know When Form SR Will Be Due? Does Anybody Really Care (Care About Time)?
Posted on December 23, 2021
The Securities and Exchange Commission recently proposed to amend its rules to require issuers to disclose share repurchases on a new Form SR which must be furnished "before the end of the first business day on which the share repurchase has been...
Challenge To Nasdaq Diversity Rule Filed In Federal Court Of Appeals
Posted on August 19, 2021
Professor Stephen Bainbridge writes that the Alliance for Fair Board Recruitment has filed a petition for review with the Fifth Circuit Court of Appeals challenging Nasdaq's board diversity rule. Some readers may be wondering why the petition was...
Are Limited Liability Companies "Persons"?
Posted on September 08, 2017
Limited liability companies did not exist when Congress enacted the Securities Act of 1933 and the Securities Exchange Act of 1934. Therefore, it should be no surprise that as originally enacted these acts did not mention LLCs. Congress has since...
