Compliance Risk Concepts (CRC​)’s Post

Compliance Risk Concepts (CRC) is where it’s at for financial services regulatory compliance advice and guidance. #SECRegulations #DisclosureRequirements #InvestorProtection #SecuritiesLaw #CorporateTransparency #CapitalMarkets #LegalInsights #CorporateGovernance

In a memo for clients, Cravath examined the U.S. Securities and Exchange Commission’s recently adopted final rule amendments to modernize beneficial ownership reporting. The memo reviews the final rule amendments’ changes and guidance related to Schedule 13D and Schedule 13G filing deadlines, cash-settled derivative securities, the “group” definition and more.   Click here to read the memo: https://bit.ly/494L2R5

In December, the U.S. Securities & Exchange Commission adopted Rule 192, prohibiting certain conflicts of interest in the context of asset-backed securities transactions. John Hwang, Derek Poon, and Joshua Kopel follow up their initial note on the regulation with an examination of key revisions to the rule. Read more below. #securitization #SEC #InvestmentManagement

Please read our blog post about the assertion of extra-territorial securities regulatory jurisdiction

U.S. Securities and Exchange Commission Commissioner Mark Uyeda gave an interesting speech today at the 51st Annual Securities Regulation Institute. Commissioner Uyeda’s remarks were focused on the regulatory regime for private offerings. As Commissioner Uyeda noted, amendments to Regulation D, including the #accreditedinvestor definition, are on the SEC’s 2024 rulemaking agenda. In particular, Commissioner Uyeda argues that, instead of simply adjusting the net worth and annual income thresholds in the accredited investor definition for inflation, the #SEC should consider creating a “sliding scale” approach that would allow any individual to invest at least a small amount in private companies over the course of a year. With a sliding scale approach, a person could be able to invest up to a certain percentage, based on a personal financial metric, in private companies during a rolling time period. As Commissioner Uyeda points out, the SEC has recently recognized that expanding the pool of #accreditedinvestors could have a positive impact on capital formation in private offerings by companies that are small, in development stages, or in geographic areas that currently have lower concentrations of accredited investors. Commissioner Uyeda’s sliding scale proposal would allow more individuals to invest in private companies to some degree and could have the same positive impact. #capitalmarkets #securitieslaw #compliance #disclosure Link to the speech here: https://lnkd.in/gaNzfMZA

If you want to keep up with recent developments in the securities regulatory space I encourage you to review the Securities Enforcement Roundup prepared by a number of my colleagues at Morgan Lewis. https://lnkd.in/eTr7t7K3

You interested in understanding securities laws? When I first became interested in U.S. securities laws and the intention behind stock market regulation, I found these digital resources incredibly helpful: 1. Investor.gov: This official SEC website provides a comprehensive guide on the laws that govern the securities industry, including the Securities Act of 1933 and the Securities Exchange Act of 1934. 2. SEC.gov: Access federal securities laws, rules, regulations, and public company filings. It also provides essential resources like the EDGAR database for company filings. 3. FindLaw Securities Law: Offers articles on securities fraud, investor responsibilities, and arbitration, providing a broad overview of securities law. 4. Code of Federal Regulations (CFR): Title 17 contains the regulations issued by the SEC, detailing the specific rules that govern securities practices in the United States. 5. Open Textbook Library - United States Securities Law: Divides the complex subject into eight volumes covering key acts like the Investment Company Act of 1940 and the Dodd-Frank Act. 6. Association of Corporate Counsel (ACC): Provides insights from an in-house counsel perspective on key U.S. securities laws and practical compliance advice. P.S. Did you know the SEC was created in 1934 in response to the stock market crash of 1929? The crash, known as Black Tuesday, led to the Great Depression, and the SEC was established to restore investor confidence through regulation and oversight of the securities markets. What's your go-to resource for staying updated on securities laws?

The SEC adopted rules today that will require firms that meet the definition of “dealer” or “government securities dealer” to: (1) register with the SEC; (2) become a member of an SRO; and (3) comply with applicable federal securities laws and SRO rules. That being said, there are some caveats and exceptions in the final rule that are worth considering before taking active steps to come into compliance with these new mandates. https://lnkd.in/eg8PHdgF

King & Spalding Financial Services lawyers explain the SEC’s recently adopted rules requiring certain trading entities to register as broker-dealers. To read a summary of the rules, click the link below.

King & Spalding Financial Services lawyers explain the SEC’s recently adopted rules requiring certain trading entities to register as broker-dealers. To read a summary of the rules, click the link below.