On October 2, 2026, in Guillaume v. Armstrong,[1] Judge Andrea K. Bouressa dismissed a shareholder derivative action against Coinbase Global, Inc. (Coinbase) and its directors, holding that Texas law, rather than Delaware law, governs a shareholder’s standing and authority
Cleary Gottlieb Steen & Hamilton LLP
Cleary Gottlieb Steen & Hamilton LLP is a global law firm that publishes detailed legal analyses and updates primarily focused on corporate and securities law, regulatory compliance, and international business transactions. Their publications cover a broad range of practice areas including mergers and acquisitions, capital markets, litigation and arbitration, financial institutions, and regulatory developments. The firm also addresses specialized topics such as environmental, social, and governance (ESG) issues, cybersecurity, intellectual property, and international trade. Their content often includes practical guidance on compliance with U.S. Securities and Exchange Commission regulations, corporate governance, and cross-border legal matters, reflecting their expertise in complex, multinational legal environments.
Latest from Cleary Gottlieb Steen & Hamilton LLP - Page 2
SEC Proposes Significant Amendments to Enhance Retail Exposure to Private Markets
On September 30, 2026, the Securities and Exchange Commission (SEC) proposed several amendments to existing rules in a package (collectively, the Proposal) that would, if adopted as proposed, significantly expand retail investor access to private markets through regulated fund structures.…
Faster, Leaner, Clearer – The FCO’s 2026 Settlement Notice in a Nutshell
On August 19, 2026, ten years after having issued the previous version, the German Federal Cartel Office (FCO) published its updated, revised Notice on Settlements in Cartel Fine Proceedings (Merkblatt Settlement, in the following the 2026 Settlement Notice).[1]…
The CMA’s Revised Merger Assessment Guidelines: More Detail on How to Bring Successful Efficiencies Arguments
On September 3, 2026, the UK Competition and Markets Authority (CMA) published revised Merger Assessment Guidelines (MAGs). The revised MAGs replace the previous guidelines from March 18, 2021.[1]…
EDEKA/Tegut Merger Cleared With Extensive Commitments
Treasury Imposes First Penalty Under the Outbound Investment Security Program
On October 7, 2026, the U.S. Department of the Treasury (Treasury) announced that it had issued the first civil monetary penalty under the Outbound Investment Security Program (OISP) in July 2026.[1] Treasury penalized Amidi, LLC (Amidi), a U.S. entity,…
Antitrust Review Episode 70: In Conversation With the Booking/eTraveli Team
SEC Rescission of the Pay-to-Play Rule: How Much Better Off Are Investment Advisers?
The proposed rescission of Rule 206(4)-5 (the Pay-to-Play Rule) under the Investment Advisers Act of 1940 (the Advisers Act) by the Securities and Exchange Commission (the SEC) has generally been celebrated by industry participants and observers. However, the relief may…
Reminder: September 30 EDGAR Next Annual Confirmation Deadline Approaching!
Since the EDGAR Next transition went live last year, SEC filers have had to adjust to a new set of account management obligations. Among these is the annual confirmation requirement; each year, one of a filer’s account administrators must log…
SEC Proposes to Modernize Proxy Solicitation Rules
On September 16, 2026, the SEC proposed a package of amendments intended to modernize the federal proxy solicitation rules. The proposal targets several paper-era or otherwise outdated requirements whose original rationale has largely been displaced by EDGAR, electronic communication and…

