The SEC staff has traditionally allowed non-U.S. issuers to file IPO or other first-time registration statements on a “draft” non-public basis, enabling them to avoid the scrutiny ass...
While the U.S. IPO market has slowed down in recent months, Davis Polk’s pipeline of deals in progress is strong, leading us to believe that there will be an uptick in IPO transactions ...
The staff of the SEC’s Division of Corporation Finance recently issued Disclosure Guidance on cybersecurity risks. The guidance does not impose any new disclosure obligations but rather...
The SEC’s new Large Trader Reporting Rule should be reviewed by corporations and individuals that exercise discretion over transactions in U.S.-listed listed stocks and options. Effecti...
Approximately ten years ago, the US regulators, including FINRA, began to crack down on a variety of research-related practices, including a perception that positive research was being of...
Since July 21, 2010, when President Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Act”), U.S. regulatory agencies have been engaged in an i...
To be eligible to file short-form registration statements on Form S-3 or Form F-3, a company must meet (1) registrant requirements (for example, a company must have been a reporting compa...
The D.C. Circuit Court of Appeals today vacated Exchange Act Rule 14a-11, which would have required U.S. public companies to include shareholder nominees for election as directors in thei...
Earlier today, in a divided 3-2 vote, the SEC adopted final rules to implement the whistleblower provisions of the Dodd-Frank Act. Overall, the final rules appear more permissive and defe...
As part of its efforts to remove reliance on and references to credit ratings from its rules and forms as required by Section 939A of Dodd-Frank, the SEC has issued proposed rules that wo...
