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The Federal Reserve has opened the Main Street Lending Program to nonprofits. Main Street loans are complicated, and the fact that Main Street’s nonprofit lending facilities were bolted...
On September 3, 2020, the U.S. Department of Justice released its updated Merger Remedies Manual. The Manual emphasizes the DOJ’s strong preference for “structural” remedies (i.e.,...
On August 26, the SEC adopted amendments to update the business description, legal proceedings and risk factor disclosures that U.S. companies make in registration statements, annual repo...
On August 26, the Securities and Exchange Commission expanded the definitions of “accredited investor” in Regulation D and of “qualified institutional buyer” in Rule144A, thereby ...
Rules and Regulations
SEC Modernizes the Accredited Investor Definition
SEC Proposes Amendments to Modernize Fund Shareholder Reports and Disclosures
Industry Update
OCIE Publishes Ris...
Rules and Regulations
SEC Modernizes the Accredited Investor Definition
Industry Update
OCIE Publishes Risk Alert on Select COVID-19 Compliance Risks and Considerations for Broker-Deal...
The path to direct listings by companies is getting easier. On Wednesday, the SEC approved the NYSE’s rule change that will permit companies to raise capital in a direct listing. Prior ...
Our memo delivers key takeaways on the Federal Reserve’s recent announcement about its research into central bank digital currency, along with some useful resources. We also place the F...
On August 17, 2020, the Bureau of Industry and Security (BIS) at the Department of Commerce announced it was tightening restrictions on Huawei’s access to American technology through a ...
The Fed has announced details of the FedNow Service, a 24x7x365 instant payments service slated for initial launch in 2023 or 2024. This Davis Polk memo describes the big picture of the U...