We previously blogged about the final climate disclosure rules, and how the Securities and Exchange Commission (SEC) voluntarily stayed implementation of the final rules pending the completion of judicial review of the consolidated Eighth Circuit cases. Continue Reading Update on Litigation Timeline of SEC’s Climate Disclosure Rules
SEC Guidance
T+1 = Here We Come!
By Sehrish Siddiqui on
Posted in Regulation Changes, SEC Guidance
On February 15, 2023, the Securities and Exchange Commission (SEC) adopted a set of rule amendments and new rules to facilitate the shortening of the standard settlement cycle for most broker-dealer transactions from two business days after the trade date (or T+2) to one business day after the trade date (or T+1). Continue Reading T+1 = Here We Come!
Embattled SEC Climate Disclosure Rule
By Sehrish Siddiqui on
I was recently quoted in Corporate Compliance Insights sharing perspective on the new climate disclosure rules issued in March 2024 by the Securities Exchange Commission (SEC). The SEC voluntarily stayed the new rules while the Court of Appeals for the Eighth Circuit completes judicial review of consolidated challenges to the new rules.Continue Reading Embattled SEC Climate Disclosure Rule
SEC Voluntarily Pauses Implementation of Climate Disclosure Rules Amid Legal Challenges
By Sehrish Siddiqui on
Posted in Disclosure, SEC Guidance
Today, the Securities Exchange Commission (SEC) voluntarily stayed its recently issued Climate Disclosure Rules. Continue Reading SEC Voluntarily Pauses Implementation of Climate Disclosure Rules Amid Legal Challenges
Update on SEC Climate Change Rules
By Sehrish Siddiqui & Eric Knox on
Posted in Disclosure, SEC Guidance
In a never ending saga to the climate disclosure rules, on March 15, the Fifth Circuit temporarily stayed the recently adopted climate change disclosure rules. Continue Reading Update on SEC Climate Change Rules
The SEC Finally Adopts Climate Change Disclosure Rules: Making Sense of 800+ Pages
By Sehrish Siddiqui, Scott Bell & Kevin Douglas on
Posted in Disclosure, SEC Guidance
After almost two years following its proposed rules, on March 6, 2024, the Securities and Exchange Commission (SEC) adopted final rules to require public companies to disclose certain climate-related information in registration statements and annual reports.Continue Reading The SEC Finally Adopts Climate Change Disclosure Rules: Making Sense of 800+ Pages
SEC Settlement with Audit Firm Serves as Reminder of Important Independence Rules
By Jonathan Stanley & Bradley Yenter on
Posted in SEC Guidance
On February 29, the Securities and Exchange Commission (the SEC) announced that it settled an administrative proceeding against Lordstown Motors Corps’ former auditor, Clark Schaefer Hackett and Co. (CSH)—the same day that the SEC also announced charges against Lordstown for misleading investors about the sales prospects of its flagship electric pickup truck, the Endurance.Continue Reading SEC Settlement with Audit Firm Serves as Reminder of Important Independence Rules
SEC Adopts Amendments to Modernize Beneficial Ownership Reporting
By Kevin Douglas, Justin Hay, Tyler Huseman & Eric Knox on
Posted in Disclosure, SEC Guidance
On October 18, 2023, the Securities and Exchange Commission (SEC) adopted amendments to the rules governing beneficial ownership reporting to “require market participants to provide more timely information on their positions to meet the needs of investors in today’s financial markets.”Continue Reading SEC Adopts Amendments to Modernize Beneficial Ownership Reporting
SEC Stays Repurchase Disclosure Rules and the Fifth Circuit Denies SEC’s Motion for Additional Time to Cure Rule Defects
By Whitney Burnley, Kevin Douglas & Eric Knox on
Posted in Disclosure, SEC Guidance
On November 22, the Securities and Exchange Commission (SEC) stayed the recently enacted Share Repurchase Disclosure Modernization Rule (Repurchase Disclosure Rule) pursuant to section 705 of the Administrative Procedure Act and the U.S. Court of Appeals for the Firth Circuit’s (Fifth Circuit) October 31, 2023 opinion providing the SEC 30 days to correct defects in the Repurchase Disclosure Rule. For an overview of the Fifth Circuit’s October 31 opinion, please refer to our earlier blog post: Fifth Circuit Requires SEC to Revisit Share Repurchase Disclosure Rules.Continue Reading SEC Stays Repurchase Disclosure Rules and the Fifth Circuit Denies SEC’s Motion for Additional Time to Cure Rule Defects
Fifth Circuit Requires SEC to Revisit Share Repurchase Disclosure Rules
By Eric Knox, David Marshburn & Tatjana Paterno on
Posted in Disclosure, SEC Guidance
On October 31, the U.S. Court of Appeals for the Fifth Circuit (Fifth Circuit) issued an opinion finding that the U.S. Securities and Exchange Commission (SEC) violated the Administration Procedure Act when adopting recent amendments to its share repurchase rules (as amended, the Rule). Rather than vacate the Rule, the Fifth Circuit provided the SEC with 30 days to correct the errors identified by the Fifth Circuit.Continue Reading Fifth Circuit Requires SEC to Revisit Share Repurchase Disclosure Rules