Much of the law governing corporate artificial intelligence rests on a single premise: that the a company’s protection against legal liability depends on the quality of the record it can produce. Directors defend oversight claims with minutes and charters. Issuers
The CLS Blue Sky Blog
The CLS Blue Sky Blog, published by Columbia Law School, focuses on developments in commercial law, particularly relating to securities regulation, corporate governance, and emerging financial technologies. It covers topics such as amendments to the Uniform Commercial Code affecting digital assets, regulatory changes impacting capital markets, and legal issues surrounding private equity and investor protections. The blog also addresses broader themes in financial regulation, including climate-related disclosures, privacy concerns in financial surveillance, and evolving SEC policies. It serves as a resource for understanding the intersection of law, finance, and technology within the context of U.S. and international regulatory frameworks.
SEC Commissioner Peirce Discusses Proposed Regulation E-Delivery
By Renholding
Today [July 16], in a long-awaited move, the Commission proposed Regulation E-Delivery to make electronic delivery the default under the securities laws for issuers, investment advisers, investment companies, and broker-dealers. This rulemaking focuses on the default delivery method; not the…
Cleary Gottlieb Discusses SEC’s 2026 Rulemaking Agenda
By Renholding
The SEC’s 2026 rulemaking agenda and statement of regulatory priorities recently went public as part of the federal governments overall 2026 Regulatory Plan. The agenda lists 38 potential SEC rulemakings and reflects Chairman Atkins’s broadly deregulatory orientation, with proposals…
Skadden Discusses SEC Plan to Amend Investment Adviser Pay-to-Play Rule
By Renholding
On July 3, 2026, the U.S. Securities and Exchange Commission (SEC) released its updated regulatory agenda for 2026. The agenda, which is required to be updated semiannually under the Regulatory Flexibility Act, includes an ambitious 38 items. Notably, as part…
Stock as Currency
By Renholding
In April 2026, SpaceX announced an agreement giving it the right to acquire the AI coding company Cursor for $60 billion in SpaceX stock after SpaceX went public. If that stock transaction did not occur, the agreement called for a…
Skadden Discusses New EU Rules for Cross-Border Banking
By Renholding
Executive Summary
- What’s new: New Article 21c of CRD VI prohibits cross-border provision of “core banking services” into the EU absent an authorised local presence, subject to limited exemptions.
- Why it matters: The restriction reaches routine wholesale cross-border activity of US banks
…
Sustainability Assurance
By Renholding
Assurance providers, a type of green gatekeeper, certify the accuracy of sustainability information. In a new paper, we analyze the market for assurance services, asking whether they should be regulated and, if so, how.
Assurance providers do with sustainability-related…
Narcissism, Related-Party Transactions, and the Limits of Disclosure
By Renholding
Boards often clear a related-party transaction once it has been disclosed, reviewed, and priced on fair terms. In a recent article, we suggest that this may not be enough. The same transaction can be a sensible business arrangement under one…
SEC Chair Speaks at Society for Corporate Governance Conference
By Renholding
Before I offer a few reflections, I must note that the views I express here today are my own as Chairman and do not necessarily reflect those of the SEC as an institution or of my fellow Commissioners.
Of course,…
How Inclusion Can Repair Corporate Governance
By Renholding
Contrary to the popular narrative, leading firms, supported by overwhelming shareholder majorities, have maintained their commitment to diversity, equity, and inclusion (DEI). The reason is simple—inclusive practices improve corporate governance.
Literature from finance, management, sociology, and psychology illustrates that both…