Topic
Securities
6,664 published works
Financial Services Observer
SEC Raises Threshold for ‘Qualified Client’ Status, Effective June 29, 2026
By Arthur Don, Steven M. Malina, Richard M. Cutshall, Rachel B. Cohen-Deaño, Efraim F. Burle
The SEC has raised the financial thresholds for “qualified client” status under the Investment Advisers Act, with new assets-under-management and net worth requirements taking effect June 29, 2026.
Free Writings + Perspectives
Petition Requests Amendments to “Qualified Purchaser” and “Qualified Institutional Buyer” Definitions
On May 1, 2026, the Private Investor Coalition, Inc. (“PIC”) submitted a rulemaking petition to the Securities and Exchange Commission (the “SEC”) requesting amendments to the definitions of “qualified purchaser”…
Compliance Building
Neither Admit Nor Deny To Be No Longer
Since 1972, the Securities and Exchange Commission has generally allowed companies and individuals to settle civil enforcement investigations without admitting to the SEC’s allegations, provided that the settling party also…
The D&O Diary
Securities Suit Partially Survives; Derivative Action Follows and Prolonged D&O Exposure
By Sarah Abrams
The recent securities and derivative litigation involving e.l.f. Beauty reflects a familiar D&O liability pattern: a high-growth narrative challenged by operational headwinds, followed by securities litigation and a derivative action.…
The CLS Blue Sky Blog
New SEC Enforcement Director Speaks About His Agenda
I have now been in this role for about a week, and it feels very much like returning home. I previously served nearly five years as Director of the SEC’s…
Regulatory Oversight
SEC’s ‘No‑Deny’ Settlement Policy Heads for a Crossroads at OMB and the Supreme Court
On May 8, the U.S. Securities and Exchange Commission (SEC) quietly sent a final rule titled "Rescission of Policy Regarding Denials in Settlements of Enforcement Actions" to the Office of…
The Law and Other Anomalies
More SEC Deregulation Efforts
Right after my last post about proposed SEC changes to reduce financial reporting, today’s press notes an SEC proposal sent to the White House which would reverse a 54-year old…
Securities Fraud Lawyer Blog
What Is a Private Placement Offering?
A private placement offering is a way companies raise money by selling securities directly to a select group of investors without going through the public registration process required for a…
FCPA Professor
“Broken Windows Securities Enforcement”
By Mike Koehler
At a recent conference, SEC Commissioner Mark Uyeda offered remarks on the “effectiveness of the broken windows policy in the securities enforcement context.” As Uyeda explained, “the broken windows hypothesis,…
The D&O Diary
Yet Another Private Credit Firm Hit With Securities Suit
As followers of the financial markets know, in recent months, trouble has been brewing in the private credit sector. In at least some cases, the problems in the private credit…