2023 was an active year in public company enforcement by the U.S. Securities and Exchange Commission, with several first-of-their-kind actions. The SEC looked past traditional financial p...
After the SEC failed to remedy the deficiencies in the rule that the court had identified in its recent opinion, the Fifth Circuit vacated the share repurchase rule that the SEC adopted i...
After receiving board approval to buy back stock under a 10b5-1 plan, a company interpreted Rule 10b5-1 in a manner with which the SEC disagreed. The SEC did not allege that the company t...
The House Financial Services Committee approved the Clarity for Payment Stablecoins Act of 2023. If enacted, the legislation would create a regulatory framework for the issuance and overs...
Davis Polk partners Joe Hall, David Portilla and Zach Zweihorn and associate Justin Levine authored “A closer look at competing stablecoin legislative proposals” in Law360. In the art...
The final rules require current reporting of cybersecurity incidents and annual risk management disclosure for public companies that are likely to compound compliance costs and enforcemen...
Davis Polk partner Joe Hall authored “SEC v. Ripple Labs decision could change crypto regulation” in Law360. In the article, Joe discusses the potential impact of U.S. District Judge ...
The SEC lost a game point in its case against Ripple Labs when a federal court ruled that several categories of XRP token sales were not securities transactions. If adopted by other court...
Representatives Patrick McHenry (R-NC) and Maxine Waters (D-CA), the respective Chair and Ranking Member of the House Financial Services Committee, have been negotiating legislation to re...
The NY Attorney General is seeking legislation that would significantly expand the state’s reach over digital assets and require wholesale changes to the operation of digital asset busi...
