Today [August 18], the Commission continues its work to restore American leadership in capital formation by developing tailored, fit-for-purpose rules that are designed to support innovation in crypto asset markets.
Given the progress made in Congress to date on market
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.
Latest from The CLS Blue Sky Blog - Page 4
Should the Rules Be Different When Prediction Markets Play Sportsbook?
By Renholding
In August 2025, the two leading U.S. prediction market platforms processed a combined $1 billion in monthly transaction volume. By July 2026, that figure had climbed to nearly $46 billion, according to The Block Prediction Market Dashboard. That growth…
Wachtell Lipton Discusses Delaware Chancery Decision Reaffirming That Caremark Liability Turns on Bad Faith
By Renholding
Delaware corporate law demands neither omniscience nor infallibility from directors, but rather a good-faith effort. The Delaware Court of Chancery reaffirmed that principle yesterday in a decision dismissing claims that current and former directors of Boeing breached their oversight duty…
The SEC Opened the Door to Mandatory Shareholder Arbitration. Will Companies Walk Through It?
By Renholding
For decades, mandatory arbitration provisions covering shareholder claims were largely absent from the governance documents of public companies. Their absence was largely the consequence of two institutional forces. At the federal level, the Securities and Exchange Commission maintained an informal…
Paul Weiss Discusses Delaware Decision Ordering Specific Performance of $2.35 Billion Merger
By Renholding
In Verisk Analytics, Inc. v. ExactLogix, Inc., the Delaware Court of Chancery held in a post-trial opinion that a buyer’s termination of a commercial relationship with the target’s competitor constituted “willful conduct” that was the “primary cause” of the…
How Corporate Ownership Concentration Differs Down Under
By Renholding
Institutional investors’ rising ownership of publicly traded shares and its implications for corporate governance have prompted scrutiny in both the United States and Australia. In the U.S., shares are increasingly in the hands of the Big Three index funds: BlackRock,…
Cleary Gottlieb Discusses SEC’s Financial Reporting and Accounting Unit Within Enforcement Division
By Renholding
On August 5, 2026, the SEC announced the creation of a new Financial Reporting and Accounting Unit within the Division of Enforcement “to provide the dedicated expertise, focus, and capacity to pursue accounting and financial reporting cases as well as…
How Does the SEC Respond to Reputation Shocks?
By Renholding
In April 2010, the Securities and Exchange Commission found itself in headlines no regulator wants. The agency’s Office of Inspector General revealed that 33 SEC employees and contractors had been regularly viewing pornography on government computers during work hours. More…
Shadow SEC Statement No. 12: The SEC’s Retreat from Enforcement (and the Special Case of Mandatory Arbitration Clauses)
By Renholding
Since the Securities Act of 1933, Congress has created and carefully maintained a two-track enforcement system that relies on both public enforcement and private enforcement to prevent fraud and protect investors. Congress has at times adjusted the balance of advantage…
Wachtell Lipton Discusses Delaware Decision Drawing Line Between Expert and Arbitrator in Earnout Disputes
By Renholding
Earnouts, working-capital adjustments, and similar price-adjustment mechanisms in private deals or public company carveouts routinely assign certain disputes to an independent accountant — a device parties favor for speed, expertise, and finality. But a perennial question drags those efficient dispute…