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SEC Chair and Corporation Finance Director Share Views on First Quarter Earnings Communications

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SEC Chair Jay Clayton and William Hinman, Director, Division of Corporation Finance, shared their views in a public statement on first quarter earnings communications. Highlights of the wide-ranging statement are discussed below. According to Messrs. Clayton and Hinman, company disclosures should reflect investor interest in: where the company stands today,... Read More

Topics: COVID-19, Public Companies and Securities

SDNY Grants Preliminary Injunction to Halt Telegram Coin Offering

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The Southern District of New York granted the SEC’s request for a preliminary injunction halting a coin offering in Securities and Exchange Commission v. Telegram Group Inc. et al.  Among other things, the Court found that the SEC has shown a substantial likelihood of success in proving that Telegram’s plan... Read More

Topics: Blockchain Technology, Litigation, Public Companies and Securities

Disclosure Guidance: Topic 9 – SEC Publishes Guidance on COVID-19 Disclosure and Securities Law Obligations

The SEC’s Division of Corporation Finance published formal disclosure guidance and other views of securities law compliance for public companies with respect to COVID-19. On disclosure matters, the guidance recognizes that it may be difficult to assess or predict with precision the broad effects of COVID-19 on industries or individual... Read More

Topics: COVID-19, Public Companies and Securities

SEC Provides Relief for Signature Page Maintenance Requirements as a Result of COVID-19

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SEC staff published an announcement regarding signature page maintenance as a result of the COVID-19 pandemic substantially as follows: The staff of the Division of Corporation Finance, the Division of Investment Management, and the Division of Trading and Markets has received inquiries from persons and entities subject to Regulation S-T... Read More

Topics: COVID-19, Public Companies and Securities