NYSE Rule Update: Companies Can Now Raise Capital Via a Direct Listing and Escape Section 11 Liability

Sep 28, 2020

Paula Zampietro

On August 26^th, the Securities and Exchange Commission approved a New York Stock Exchange proposal allowing issuers to raise capital via direct listings. This ruling substantially expands the potential use and relevancy of direct listings and allows issuers to avoid Section 11 liability in a securities issuance, circumventing investor protections.

Does CFTC’s Initial Margin Requirement for Inter-affiliate Uncleared Derivatives Transactions Disadvantage U.S. Banking Organizations?

May 6, 2020

In September 2019, the Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Farm Credit Administration, and Federal Housing Finance Agency proposed rules amending current swap margin requirements for covered swap entities (“CSE”), and have since gathered comments from industry stakeholders.

ICO Fundraisers Skating on Thin Ice: Court Sided with the SEC in Finding Grams a Security

May 1, 2020

On March 24, 2020, Judge Castel of the U.S. District Court for the Southern District of New York sided with the SEC and granted a preliminary injunction to halt Telegram Group’s initial coin offering (“ICO”).