More Than Four Score Law Firms File Amicus Brief Opposing SEC Assault On Client Confidentiality

In several recent posts, I have discussed Covington & Burling LLPs opposition to an SEC subpoena demanding that the law firm "name names".  See SEC Suit Against Covington & Burling Threatens More Than Attorney-Client Privileged Information, SEC...

Was This The Least Transparent Report In SEC History?

Professor Alexander I. Platt at the University of Kansas School of Law has just released a draft of a forthcoming paper that takes the Securities and Exchange Commission to task for the lack of transparency in its whistleblower program, Going...

SEC Makes Claims But Provides No Data

Recently, Securities and Exchange Commission Commissioner Mark Uyeda recently expressed concern about the the Commission's belief system with respect to its proposed Regulation Best Execution:

Commissioner Uyeda Warns Of Looming Item 402 Letter Deficit, But George Eliot Provides An Answer

Earlier this week, the Securities and Exchange Commission adopted amendments to Rule 10b5-1 under the Securities Exchange Act of 1934 which provides affirmative defenses to trading on the basis of material nonpublic information.  The amendments add...

Staff Says Some Non-GAAP Financial Disclosures Are Beyond Redemptive Disclosure

On St. Lucia's Day (December 13), the staff of the Securities and Exchange Commission published updates to its compliance and disclosure interpretations (CD&Is) with respect to non-GAAP financial measures.  The following new CD&I caught my eye:

NASAA Urges Congress To Codify M&A Broker Relief

Last week, the North American Securities Administrators Association sent a letter to U.S. Senate and House committee leaders expressing concern that the appropriations process will "may be used to advance provisions in the draft JOBS Act 4.0 that...

Commissioner Uyeda Urges Questioning Of ESG Trend Sustainability

In recent remarks to the 2022 Cato Summit on Financial Regulation, Securities and Exchange Commissioner Mark Uyeda noted the uncertainty of both costs and benefits of ESG investing.  With respect to costs, Commissioner Uyeda pointed out that the...

A Short Course In Insider Trading

Last week, the Securities and Exchange Commission announced that it had filed a complaint against the Chief Information Officer of pharmaceutical company Viatris Inc. (formerly known as Mylan N.V.).  The SEC is alleging that the CTO tipped his...

Could A "Red Wave" Wipe Out The SEC's Clawback Rules?

The Securities and Exchange Commission new "clawback" rules were approved on a divided vote.  The two Republican members of the Commission, Hester M. Peirce and Mark T. Uyeda voted against adoption.  Tomorrow's election will not result in an...

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