By now it is common knowledge that calculating commercial interest rates using LIBOR is no longer possible; the disclosure of LIBOR manipulations tolled its death knell. The influential New York Federal Reserve Bank has proposed a replacement metric (“Term SOFR”), … Continue reading
Stephen Honig
After a wet and tumultuous July, I have gathered my wits again and have begun posting to this blog site on legal matters. However, on occasion I have written about other subjects when anomalies of life have struck me as– … Continue reading
While most businesses acknowledge the potential impact of climate on their operations, and many people see first-hand the potential for disruption due to climate change, there is a dispute as to the role of the SEC in disclosing climate factors … Continue reading
In my May 5 post, I predicted that the SEC’s animosity to SPACs would not fade away. It was easy prophesy and of course it has come to pass. In an announcement issued yesterday, the SEC’s Office of Investor Education … Continue reading
Everyone knows that insider trading is illegal and can create liability for the person who gives the “tip” and the person who trades based on the “tip.” So why did the US House of Representatives enact the Insider Trading Prohibition … Continue reading
A week ago, panelists at an ambitious program mounted by the Boston Bar Association took a broad look at major trends in life science deals and risks. Some interesting highlights follow. Did COVID hurt or help life science dealmaking? Both; … Continue reading
We all recall the game Whack-a-Mole. That is what is happening to the SPAC marketplace. Aside from questions in the marketplace as to the advisability of using this model as an investment vehicle or a method of going public, seems … Continue reading
The Congress, the SEC and NASAA have joined the chorus of investors and ESG-focused funds in seeking much greater disclosure of the entire suite of ESG concerns. A renewed pressure from government is not surprising given the politics of the … Continue reading
On March 15, rules adopted by the SEC during the Trump administration became effective, loosening access to crowd-funding, expanding access to public offerings under less rigorous standards pursuant to SEC’s Regulation A, permitting companies to shift quickly from one financing … Continue reading
The political currents that have roiled US society often are echoed in the policy choices made by the Securities and Exchange Commission. I do not recall a time when partisanship was not part of the SEC culture, and the combination … Continue reading