Massachusetts Secretary of State Galvin, who supervises the State Securities Division that in turn oversees investment markets and professionals, long has been diligent in pushing the limits of his power to protect the retail investor. In March of 2020, his … Continue reading
Category Archives: The Law
The SEC announced last week proposed new climate disclosure requirements for public companies which are sweeping to the point of panicking management and disclosure professionals. No doubt during the public comment period there will be many calls to cut back … Continue reading
Those tuning into the numerous webinars offered by investment advisors and other organizations, and those reading the serious press, have been made aware of the fear of Russian cyber attacks in the context of the Ukrainian invasion. Those following US … Continue reading
Last week the SEC advised a meeting of institutional investors that by April it will issue for public comment rules to facilitate submission by shareholders of proposals to be considered at annual meetings, and promised to strengthen disclosure requirements about … Continue reading
To use the most efficient exemption from SEC registration in the sale of company shares, Regulation D, purchasers generally must meet the definition of “accredited investor.” In the waning days of the Trump-Republican SEC, the definition of “accredited investor” was … Continue reading
Unicorns are huge companies, often with many shareholders, whose securities are not registered with the SEC. They have been privately financed by sophisticated investors, have never done an IPO, and do not have over 2000 shareholders (which would require them … Continue reading
SPACs have been criticized extensively for favoring the promoters and their cronies while the merged operating company does not reward the investors. Most SPACs are formed and will continue to be formed in Delaware. The Chancery Court early this month … Continue reading
I have written here, and in my recent article (Fall 2021 issue in Massachusetts InHouse) about the activist agenda of the Democratic-controlled SEC under Chair Gary Gensler. Yesterday, Gensler furthered that agenda by announcing that the SEC will address transparency … Continue reading
The activist SEC agenda has generated for comment two new rules designed to provide greater information to the marketplace; not surprisingly, providing information= more rules about what must be disclosed and even more forms to be filed. As if public … Continue reading
These are options granted to executives just prior to favorable announcements relating to the company which are likely to jump the market price above the strike price set forth in the options themselves; executives wake up one day soon to … Continue reading