Today, the U.S. Senate passed the House version of the Jumpstart Our Business Startups (“JOBS”) Act with amendments only to place further limitations on the “crowdfunding” exempti...
A number of recent studies have noted a substantial decrease in IPOs by smaller companies and a perceived lack of hospitality to smaller companies in the public markets. Commentators have...
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...
The SEC announced today that it temporarily suspended the operation of its EDGAR filing system as a precautionary measure due to the earthquake in the Washington, D.C. area this afternoon...
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...
In response to requirements in the Dodd-Frank Wall Street Reform and Consumer Protection Act, the SEC issued proposed rules today that would revise the Form S-3 and Form F-3 transaction e...
