California Corporate & Securities Law

Last month, the Securities and Exchange Commission issued this public statement warning about touting of securities by celebrities:

SEC Chairman Jay Clayton launched a sea of news stories last week when he included the following five sentence in a statement on cybersecurity:

As Broc Romanek noted yesterday, President Donald Trump has nominated Columbia Law School Professor Robert J. Jackson, Jr. to become a member of the Securities and Exchange Commission. Over the years, Professor Jackson's name has made several...

While prognosticators continue to place odds on whether the Financial CHOICE Act of 2017, H.R. 10, will be enacted, many commentators are claiming that it will "repeal" the Securities and Exchange Commission's pay ratio rule. Even if H.R. 10 is...

"Congress shall make no law . . . abridging the freedom of speech . . . ."

Earlier this year, the Securities and Exchange Commission published for comment proposed amendments to the Municipal Securities Disclosure Rule (Rule 15c2-12). The existing rule is complicated and I will not attempt to explain it here. For purposes...

Yesterday, the SEC staff announced that it had published a suite of new data and analyses of private fund statistics and trends. These data include information with respect to "real estate funds". But what exactly is a "real estate fund"? The answer...

Title I of the Jumpstart Our Business Startups (aka JOBS) Act amended the Securities Act and the Exchange Act to provide some regulatory relief to issuers that qualify as an "emerging growth company".  Recently, the Securities and Exchange Commission

The Dodd-Frank Act gave us many things, including Section 21F of the Securities Exchange Act of 1934. Section 21F, prohibits employers from retaliating against a "whistleblower". 15 U.S.C. § 78u-6(h)(1)(A). We need not guess about the definition of...