A recent paper by four law professors takes a look at risk factor disclosures in Form 10-Qs and 10-Ks filed by 3,000 firms from January 2020 through the end of 2023. Stephen Choi, Mitu Gulati, Xuan Liu, and Adam Pritchard, Covid-19 Risk Factors and...
Boilerplate Risk Factors - Is Nicolai Ivanovich Lobachevsky To Blame?
Posted on March 29, 2024
Through These Many Years, I Continue To Perseverate On Whether Coal Is A Mineral
Posted on December 21, 2023
Readers may recall that I have penned several posts on the subject whether coal is a mineral for purposes of the Securities and Exchange Commission's resource extraction disclosure rules:
Court Finds That The SEC Acted Arbitrarily and Capriciously In Adopting Share Repurchase Rule
Posted on November 03, 2023
When the Securities and Exchange Commission proposed to adopt a rule a rule requiring issuers to report day-to-day share repurchase data once a quarter and to disclose the reason why the issuer repurchased shares of its own stock, I submitted a ...
SEC Adopts Meaningless And Ambiguous "Reasonably Likely" Standard In New Cybersecurity Incident Disclosure Rules
Posted on July 27, 2023
The Securities and Exchange Commission yesterday adopted new rules requiring registrants to disclose on Form 8-K any cybersecurity incident which they determine to be material. The new Item 1.05 of Form 8-K requires description of the material...
SEC Files Desist & Refrain Order Against Coinbase Alleging Failure To Qualify Staking Rewards Program
Posted on June 07, 2023
Yesterday, the California Department of Financial Protection & Innovation announced that it had issued a desist and refrain order against Coinbase, Inc. The order alleges that Coinbase's staking rewards program involved the the offer and sale of...
Securities And Exchange Commission Amends Rules For Share Repurchase Disclosures
Posted on May 04, 2023
More Than Four Score Law Firms File Amicus Brief Opposing SEC Assault On Client Confidentiality
Posted on February 22, 2023
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 AgainstCovington& Burling Threatens More Than Attorney-Client Privileged Information, SEC...
Was This The Least Transparent Report In SEC History?
Posted on February 09, 2023
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
Posted on December 19, 2022
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:
