Topic
Securities
6,665 published works
FCPA Professor
SEC Enforcement Report Contains Some Zingers
By Mike Koehler
Traditionally, the SEC Enforcement Division releases its fiscal year (ends on September 30th) enforcement report in the Fall. Yesterday, the SEC released its enforcement report for FY 2025 and it…
The CLS Blue Sky Blog
SEC Announces Enforcement Results for Fiscal Year 2025
By Securities, Exchange Commission
Central to an effective enforcement program is determining which cases to bring and responsibly stewarding Commission resources. Regrettably, such resources have been misapplied in prior years to pursue media headlines…
All Things Canada
Lundin Mining v. Markowich: How the Supreme Court Is Shaping Disclosure Practices
In Lundin Mining Corp. v. Markowich, 2025 SCC 39, the Supreme Court of Canada clarified how issuers must identify and meet their disclosure obligations regarding “material changes” under Canadian securities…
Cleary Securities, Disclosure, and Governance Watch
SEC Updates CFI Guidance: March 2026 Roundup
In March 2026, the Division of Corporation Finance (Corp Fin) issued and revised several Corporate Finance Interpretations (CFIs), formerly called Compliance and Disclosure Interpretations, addressing capital markets transactions and corporate…
Subject to Inquiry
SEC Enforcement Speaks in 2026: Enforcement Division Moves “Full Steam Ahead” with Focus on Quality over Quantity, Procedural Fairness, and Targeted Pursuit of Non-Fraud Violations
By E. Andrew Southerling, Gary Leung, James Hornsby, Louis D. Greenstein, McGuireWoods LLP
SEC Acting Enforcement Director Sam Waldon declared recently that his division is moving “full steam ahead” against those who “lie, cheat, and steal” but also is focusing on quality over…
The D&O Diary
D&O Insurance: Not a “Securities Claim” if No Securities of the “Company” Involved
Public company D&O insurance policies restrict “entity coverage” (that is, coverage for claims directly against the corporate entity, as opposed to those against individual directors and officers) to “Securities Claims.”…
The CLS Blue Sky Blog
Are Bidder-Initiated Takeovers Opportunistic?
By B. Espen Eckbo, Tanakorn Makaew, Karin S. Thorburn
In principle, a potential acquirer may use private information to initiate a deal and offer to pay for the target with temporary overpriced shares. Analogous to insider trading in secondary…
Corporate and Securities Law
The SEC Releases New Interpretation on Crypto Assets
By Eric Mikkelson, Carissa Occhipinto
By Eric Mikkelson & Carissa Occhipinto On March 17, 2026, the Securities and Exchange Commission (SEC) issued an Interpretative Release related to how federal securities laws will be applied to many cryptocurrency…
Global Fintech & Digital Assets Blog
SEC Clarifies the Application of the Securities Laws to Cryptoassets
The Interpretive Release supersedes prior Staff guidance on cryptoassets, establishing a five-part token taxonomy and formally recognizing that tokens can change their character as investment contracts. By Jenny Cieplak, Paul…
The Capital Commitment
Risk #3: Five Considerations for Advisers Implementing AI in Investment Decisions
By Margaret A. Dale, Michael R. Hackett, Dorothy Murray, Joshua M. Newville, Todd J. Ohlms, Robert Pommer, Seetha Ramachandran, Nathan Schuur, Robert Sutton, John Verwey, Jonathan M. Weiss, Edward Lister, Rachel Lowe, Adam Farbiarz, Adam L. Deming, Michael Guggenheim, Corey I. Rogoff, Hena M. Vora
Use of technology referred to as “artificial intelligence” is fast finding its way into many aspects of commercial life. Registered investment advisers are no exception as AI tools are already…