Exequity Discusses How COVID-19 Is Affecting Pay
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Are ETFs Making Some Asset Managers Too Interconnected to Fail?
Exchange traded funds (ETFs) sit at the center of the COVID-19 crisis selloff.[1] This isn’t surprising, since ETFs are a low-cost highly liquid vehicle for trading entire sectors, asset classes, and even global economies. Yet the use of ETFs as a preferred crisis trading tool, and the Federal Reserve’s unprecedented mid-crisis purchasing of bond ETFs,[2] reinvigorates a long-standing debate on the systemic importance of ETF sponsors.
In a new article, I…
Skadden Discusses Cybersecurity and Incident Response During Coronavirus Pandemic
The spread of the novel coronavirus has upended Americans’ lives in a matter of months. While life outside has ground to a standstill in many regions of the country, much of corporate America is meeting the unique challenges posed by the current epidemic by adopting remote working technologies and practices. Companies, determined to sustain growth and add value, are adapting long-standing business practices to enable telecommuting and empower a new cyber workforce. For their part,…
Artificial Intelligence and Technology in Corporate Governance
The modern boardroom is beset by huge volumes of data that directors must digest to perform their governance functions, data that are only increasing as industries rapidly change and respond to technological disruption. At the same time, corporate scandals as a result of governance failures continue to emerge. Recent Australian inquiries show that company size does complicate, but does not excuse, board transparency and accountability. Moreover, the failure to appropriately make use of existing technology…
SEC Chair on Investors, Allocation of Resources, and Regulation Best Interest in Uncertain Times
Over 57 million American households are invested in our securities markets. The interests of these individuals—our long-term Main Street investors—are the lens through which we evaluate whether we are effectively advancing the SEC’s mission. The 4,500 women and men of the SEC are committed to these investors and the integrity of our markets. The uncertainties caused by COVID-19 have not changed our perspective or commitment.
Approach to Allocation of Resources, Oversight and Rulemaking
In recent…
Will FinTech Disruption in the ‘20s Be Roaring?
In recent podcasts, we addressed three themes, among other topics: how artificial intelligence and machine learning (AI/ML) can change how decisions get made; how blockchain can transform how we transact and how we record and communicate things; and how technology shapes how we trade stocks. We entered 2020 with a lot to watch. Perhaps this decade will be the “roaring ‘20s of FinTech.”
From Here to There for AI/ML. The promise of AI/ML is transformative,…
Debevoise & Plimpton Discusses Impact of Coronavirus on Foreign Investment in China
On March 11, 2020, the Chinese government announced that the novel coronavirus epidemic had peaked within the country, with the number of new cases falling significantly. By March 16, for the first time since the coronavirus was first identified last year, there were more reported cases outside of China than inside. Although the situation appears to have improved markedly, the Chinese government is still caught between efforts to contain the coronavirus and the urgent need…
What Law and Economics Has to Say About Property Rights in Cryptocurrencies
Technological advancements of recent years have given birth to a strange and interesting creature: cryptocurrencies like Bitcoin, Ether, and Facebook’s upcoming Libra. Many of the advantages offered by these tokens stem from their underlying technology – a decentralized ledger, which automatically records any transfer of tokens between individuals, without any involvement from a centralized authority. Transfers can only occur when token holders use their “private key” (comparable to a username and password) to match the…
Stealth Takeovers: How Hidden Shareholders Are Buying Companies
Sullivan & Cromwell Discusses Corporate Governance Considerations in Response to COVID-19
The COVID-19 pandemic and its aftermath will heighten focus on corporate governance and the role of a talented management team and an engaged board as companies forge a path through the uncertain times ahead. Strong oversight, coordination and leadership will be critical in managing a fluid and complex situation impacting a company’s business, operations, prospects, employees, stockholders, other stakeholders and government/regulatory relationships. Among various other challenges, we expect that boards and management will be called…