On November 14, the Securities and Exchange Commission (“SEC”) published its 2023 annual enforcement report which revealed a continuation of 2022’s record-setting enforcement activity.
On October 25, a panel of the Fifth Circuit Court of Appeals (the “Fifth Circuit”) upheld the Nasdaq board diversity rule in the face of challenges that (among other things) the rule attempted to improperly and unconstitutionally dictate the composition of corporate boards.
Recent enforcement actions brought by the Securities and Exchange Commission (“SEC”) signal that the SEC is paying close attention to public company financial reporting and will continue to punish misleading accounting and non-GAAP disclosure practices.
Welcome to Vinson & Elkins’ Securities and ESG Updates. Our aim is to provide insights into notable developments in securities reporting and the environmental, social and governance space over the quarter.
A recent Delaware Court of Chancery post-trial decision, In re Straight Path Communications, is another example of:
On September 29, 2023, the U.S. Supreme Court agreed to weigh in on the validity of a familiar allegation in private securities litigation—that a failure to disclose under Item 303 of Regulation S-K (“Item 303”) supports a claim of securities fraud.
On February 9, 2022, the Securities and Exchange Commission (“SEC”) proposed new rules under the Investment Advisers Act of 1940 regarding the regulation of private funds.
In a move to address the implications of integrating emerging technologies into the financial markets, the U.S. Securities and Exchange Commission (the “SEC”) recently proposed new rules aimed at regulating potential conflicts of interest created through the use of “covered technology”—a broad category that potentially includes everything from computational algorithms to artificial intelligence.