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Developments in Securities Regulation, Corporate Governance, Capital Markets, M&A and Other Topics of Interest

NYSE Waives Shareholder Approval Requirements in Response to COVID-19

On April 6th, the Securities and Exchange Commission approved the New York Stock Exchange’s request to provide temporary waivers of the shareholder approval requirements applicable to certain kinds of equity issuances under the NYSE’s Listed Company Manual as part of the Exchange’s ongoing efforts to respond to the challenging fund-raising... Read More

Topics: COVID-19, Public Companies and Securities

Examples of Paycheck Protection Program Disclosures in SEC Reports

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Public companies have begun to make disclosures regarding receipt of loan proceeds from the Paycheck Protection Program established by the CARES Act. Two recent examples are set forth below. Potbelly Corporation Form 8-K:  On April 10, 2020, Potbelly Sandwich Works, LLC (the “Borrower”), an indirect subsidiary of Potbelly Corporation (the... Read More

Topics: COVID-19, Public Companies and Securities

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