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Securities Law

@securitieslaw.bsky.social

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For inhouse counsel, CFOs, CCOs, and financial professionals: daily news and analysis covering securities law, regulation, and related legal matters. A JD Supra law feed www.jdsupra.com/law-news/securities…

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Securities Law @securitieslaw.bsky.social · 1m

FDIC releases list of banks evaluated for CRA compliance (UPDATE)

FDIC releases list of banks evaluated for CRA compliance (UPDATE)

On October 5, the FDIC issued its monthly list of state nonmember banks recently evaluated for compliance with the CRA. The CRA requires the FDIC...

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Securities Law @securitieslaw.bsky.social · 48m

L’arrêt Boeing et la certification des actions collectives : tendances aux États-Unis et au Canada

L’arrêt Boeing et la certification des actions collectives : tendances aux États-Unis et au Canada

Dans un arrêt rendu le 20 juillet 2026 (l’« arrêt Boeing »; en anglais seulement), la United States Court of Appeals for the Fourth Circuit (la «...

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Securities Law @securitieslaw.bsky.social · 1h

IRS Targets ETF Conversion Transactions and Other Investment Fund Tax Strategies

IRS Targets ETF Conversion Transactions and Other Investment Fund Tax Strategies

On September 28, 2026, the Department of the Treasury and the Internal Revenue Service issued Notice 2026-62 and Revenue Ruling 2026-20,...

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Securities Law @securitieslaw.bsky.social · 3h

Startups 101, Part III: How Much Stock Should Your Startup Issue?

Startups 101, Part III: How Much Stock Should Your Startup Issue?

Once a company has been formed as a corporation and put the right protective agreements in place, one of the next foundational decisions is how...

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Securities Law @securitieslaw.bsky.social · 10/10/2026

SEC Rule Proposals Related to “Responsible Retailization”

SEC Rule Proposals Related to “Responsible Retailization”

On Sept. 30, 2026, the Securities and Exchange Commission (the SEC) hosted an open meeting, during which the commissioners unanimously voted to...

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Securities Law @securitieslaw.bsky.social · 10/10/2026

Federal Reserve Board Proposes Comprehensive Reforms to Rules on Lending to Insiders

Federal Reserve Board Proposes Comprehensive Reforms to Rules on Lending to Insiders

On August 4, 2026, the Board of Governors of the Federal Reserve System (the “Federal Reserve”) published in the Federal Register a notice of...

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Securities Law @securitieslaw.bsky.social · 10/10/2026

The SEC as a Commission of One…

The SEC as a Commission of One…

Effective on October 2, 2026, the Securities and Exchange Commission (the “Commission”) modified its quorum requirement, as set forth in SEC...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

FCA Finalises UK SRS-Aligned Disclosure Rules for UK Listings

FCA Finalises UK SRS-Aligned Disclosure Rules for UK Listings

In response to feedback, the FCA has moved to a comply-or-explain model for all of the sustainability disclosure obligations.

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Securities Law @securitieslaw.bsky.social · 09/10/2026

SEC Staff Statement Highlights Valuation and Disclosure Expectations for Private Credit and Other Illiquid Assets

SEC Staff Statement Highlights Valuation and Disclosure Expectations for Private Credit and Other Illiquid Assets

On September 28, 2026, Securities and Exchange Commission (SEC) Chief Accountant Kurt Hohl and Division of Investment Management Director Brian...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

Proposed SEC Amendments Aim to Expand Retail, Individual Investor Access to Private Markets

Proposed SEC Amendments Aim to Expand Retail, Individual Investor Access to Private Markets

Consistent with the U.S. Securities and Exchange Commission's (SEC) push to expand retail investor access to private markets, its commissioners...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

Crypto Brief - Lowenstein Crypto Newsletter - October 8, 2026

Crypto Brief - Lowenstein Crypto Newsletter - October 8, 2026

On October 5, the Commodity Futures Trading Commission (CFTC) released an advance notice of proposed rulemaking (ANPRM) addressing transactions...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

ISS STOXX Governance Announces Results of Annual Global Benchmark Policy Survey

ISS STOXX Governance Announces Results of Annual Global Benchmark Policy Survey

On October 7, ISS STOXX Governance (ISS) announced the results of its annual global benchmark policy survey. This survey is conducted as part of...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

Third Circuit Restores Fact-Specific Materiality Standard for Securities Fraud Claims, Abrogating Decades-Old Oran-Burlington Rule

Third Circuit Restores Fact-Specific Materiality Standard for Securities Fraud Claims, Abrogating Decades-Old Oran-Burlington Rule

In In re Ocugen, Inc. Securities Litigation, No. 25-2653, 2026 U.S. App. LEXIS 29926 (3d Cir. Sept. 30, 2026), a three-judge panel of the United...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

SEC Approves FINRA’s New “Outside Activities” Rule

SEC Approves FINRA’s New “Outside Activities” Rule

On September 15, 2026, the Securities and Exchange Commission (SEC) approved new Financial Industry Regulatory Authority (FINRA) Rule 3290, which...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

Tokenized Trading in Company Stock: What Public Companies Need to Know

Tokenized Trading in Company Stock: What Public Companies Need to Know

The SEC’s Innovation Exemption permits limited on-chain trading of tokenized US-listed equity securities, including third-party tokenizations...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

SEC Posts Notice of Nasdaq Amendment to Minimum Stock Price Rule for Initial Listings

SEC Posts Notice of Nasdaq Amendment to Minimum Stock Price Rule for Initial Listings

On October 7, the SEC posted notice and immediate effectiveness of a Nasdaq amendment to Listing Rule 5505, which will require a minimum $4 stock...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

ISS Releases Results from 2026 Benchmark Policy Survey

ISS Releases Results from 2026 Benchmark Policy Survey

On October 7, ISS STOXX Governance released the results of its annual global Benchmark Policy Survey, which opened July 21 and closed August 19,...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

Aligning FCA TCFD requirements with the UK Sustainability Reporting Standards (SRS)

Aligning FCA TCFD requirements with the UK Sustainability Reporting Standards (SRS)

In-scope issuers must report against UK SRS S2 (climate-related disclosures), including Scope 3 emissions, on a comply or explain basis in their...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

Prediction Markets: Evolving Regulation in Canada

Prediction Markets: Evolving Regulation in Canada

Surging trading volumes, rapid regulatory change and well-publicized controversies in respect of United States prediction markets have brought...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

SEC Proposes Expanded Retail Access to Private Fund: What Institutional Investors Need to Know

SEC Proposes Expanded Retail Access to Private Fund: What Institutional Investors Need to Know

On September 30, 2026, the Securities and Exchange Commission (SEC) announced a series of steps designed to open retail investor access to...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

Getting Founder Equity Right: Key Issues Every UK Startup Should Consider Early

Getting Founder Equity Right: Key Issues Every UK Startup Should Consider Early

Congratulations! You have started, or are about to start, your company. As you embark on your startup journey, you are likely focused on the...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

BMF: Draft Bill Would Tax Exchange Crypto-assets As Investment Income

BMF: Draft Bill Would Tax Exchange Crypto-assets As Investment Income

On September 30, 2026, the Federal Ministry of Finance (Bundesministerium der Finanzen, BMF) published a draft bill (Referentenentwurf) on the...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

NAIC Seeks Comment On ABS Issues

NAIC Seeks Comment On ABS Issues

On October 6, 2026, the Risk-Based Capital Investment Risk and Evaluation Working Group (Working Group) of the National Association of Insurance...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

More Companies, Bigger Exclusions, Faster Benefits: QSBS After the OBBBA

More Companies, Bigger Exclusions, Faster Benefits: QSBS After the OBBBA

The One Big Beautiful Bill Act (OBBBA) became law on July 4, 2025. The OBBBA contained comprehensive changes to federal law, including a variety...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

SEC tests new framework for on-chain trading of certain tokenized stocks

SEC tests new framework for on-chain trading of certain tokenized stocks

On September 17, 2026, the US Securities and Exchange Commission (SEC) authorized a temporary framework for trading certain tokenized stocks on...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

SEC Proposes New Crypto Custody Framework for Registered Investment Advisers and Regulated Funds

SEC Proposes New Crypto Custody Framework for Registered Investment Advisers and Regulated Funds

On October 1, 2026, the U.S. Securities and Exchange Commission (the "SEC") proposed a comprehensive new custody framework for crypto assets....

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Securities Law @securitieslaw.bsky.social · 09/10/2026

SEC Report on Climate Action 100+ Signals Broader Scrutiny of Coordinated Shareholder Voting

SEC Report on Climate Action 100+ Signals Broader Scrutiny of Coordinated Shareholder Voting

On October 7, 2026, the Securities and Exchange Commission (SEC) issued a report of investigation under Section 21(a) of the Securities Exchange...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

SEC Proposes Amendments to Expand Responsible Retailization of Private Markets

SEC Proposes Amendments to Expand Responsible Retailization of Private Markets

On September 30, 2026, the U.S. Securities and Exchange Commission (SEC) issued two proposed amendments designed to expand retail investor access...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

Retail Voting Programs: Corp Fin Issues Two CFIs

Retail Voting Programs: Corp Fin Issues Two CFIs

On the heels of Corp Fin issuing two no-action responses on voting instruction plans to Goldman Sachs and Tesla last week – with the Tesla...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

CFTC Previews Regulation CTX and CAM: A Federal Charter for Crypto Exchanges, With Leverage as the Trigger

CFTC Previews Regulation CTX and CAM: A Federal Charter for Crypto Exchanges, With Leverage as the Trigger

On October 5, 2026, the CFTC released an ANPRM previewing two related rules under § 2(c)(2)(D) of the Commodity Exchange Act (CEA). Regulation...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

Key Takeaways from BlackRock and Vanguard's Voting Reports for the 2025–2026 Proxy Season

Key Takeaways from BlackRock and Vanguard's Voting Reports for the 2025–2026 Proxy Season

BlackRock Investment Stewardship (BIS) and the two newly separated Vanguard stewardship teams—Vanguard Capital Management Investment Stewardship...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

Division of Corporation Finance Issues Another Retail Voting Program No-Action Letter

Division of Corporation Finance Issues Another Retail Voting Program No-Action Letter

On September 29, 2026, the SEC’s Division of Corporation Finance issued a no-action letter in response to a request from Tesla, Inc. (Tesla)...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

Client Alert: Stablecoins, Market Structure, and the Long Road to ‘Clarity’: The State of U.S. Crypto Regulation in 2026

Client Alert: Stablecoins, Market Structure, and the Long Road to ‘Clarity’: The State of U.S. Crypto Regulation in 2026

For most of the last decade, U.S. digital asset businesses operated in a regulatory vacuum, piecing together compliance strategies from state...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

Trust, Security and Commitment: Cayman Unit Trusts in Fund Finance | October 9, 2026

Trust, Security and Commitment: Cayman Unit Trusts in Fund Finance | October 9, 2026

While the vast majority of Cayman Islands fund finance deals concern funds formed as exempted limited partnerships (ELPs), the ELP is not the...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

Community Bank Group Sues OCC Over National Bank Charters

Community Bank Group Sues OCC Over National Bank Charters

On October 2, a community banking trade association filed a lawsuit against the OCC in the U.S. District Court for the District of Columbia,...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

ADGM’s New Fund And Fund Manager Rules: Which Route Is Right For Global Sponsors And Institutional Capital?

ADGM’s New Fund And Fund Manager Rules: Which Route Is Right For Global Sponsors And Institutional Capital?

The Abu Dhabi Global Market (the ADGM) has introduced new regulatory routes for managers of smaller private funds and funds aimed exclusively at...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

NYDFS and Wyoming Agree to Coordinate Digital Asset Oversight

NYDFS and Wyoming Agree to Coordinate Digital Asset Oversight

On October 1, the NYDFS and Wyoming Division of Banking announced a memorandum of understanding (MOU) establishing a framework for coordinated...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

Financing Compute: Legal Risks and Opportunities in the Emerging GPU Asset Class

Financing Compute: Legal Risks and Opportunities in the Emerging GPU Asset Class

The recent surge in data center financing has typically encompassed both physical data center facilities and the graphics processing unit (GPU)...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

A Third’s the Charm – The Rise of Third-Party Administrative Agents | October 9, 2026

A Third’s the Charm – The Rise of Third-Party Administrative Agents | October 9, 2026

In the beginning of time (or, 1774 according to Investopedia), a fund was formed. Fast forward to modern day, fund vehicles are now commonplace –...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

FCA Finalises UK SRS-Aligned Sustainability Disclosure Rules For Listed Issuers

FCA Finalises UK SRS-Aligned Sustainability Disclosure Rules For Listed Issuers

What ESCC and international secondary listed companies need to know.

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Securities Law @securitieslaw.bsky.social · 09/10/2026

UK FCA’s supervisory spotlight is fixed on financial crime: firms should review systems and controls now

UK FCA’s supervisory spotlight is fixed on financial crime: firms should review systems and controls now

The FCA’s September 2026 Regulation Round-Up includes a feature piece by Steve Smart, FCA Executive Director of Enforcement and Market Oversight...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

Ready for Anything: Open for Whom?

Ready for Anything: Open for Whom?

On Tuesday night, in the middle of San Francisco Tech Week, a full room of CFOs, founders, investors and bankers rode up to the 19th floor of One...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

Spotlight Q&A: Internal Investigations in Germany

Spotlight Q&A: Internal Investigations in Germany

Q1. WHAT ARE THE LEGAL FOUNDATIONS OF THE DUTY TO INVESTIGATE IN GERMANY? German companies must initiate and steer internal investigations...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

SEC Moves to Scrap Investment Adviser ‘Pay-to-Play’ Rule

SEC Moves to Scrap Investment Adviser ‘Pay-to-Play’ Rule

The Securities and Exchange Commission (SEC) recently proposed eliminating its investment adviser “pay-to-play” rule, relying instead on existing...

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Securities Law @securitieslaw.bsky.social · 09/10/2026

Texas Securities Fraud Defense: Understanding the Risks of Facing Government Scrutiny

Texas Securities Fraud Defense: Understanding the Risks of Facing Government Scrutiny

Securities issuers and securities industry professionals in Texas face a variety of enforcement risks—including risks under the Texas Securities...

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Securities Law @securitieslaw.bsky.social · 08/10/2026

Now That Stock Can Be Tokenized, How Should Public Companies Respond?

Now That Stock Can Be Tokenized, How Should Public Companies Respond?

On September 17, 2026, the SEC approved a 5-year trial of tokenized trading of NMS stocks, including stock exchange listed shares.

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Securities Law @securitieslaw.bsky.social · 08/10/2026

Recent Developments for UK PLCs - October 2026

Recent Developments for UK PLCs - October 2026

On 7 September 2026, the government published “Modernising Corporate Reporting to support long-term economic growth”, an ambitious, wide-ranging...

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Securities Law @securitieslaw.bsky.social · 08/10/2026

The Regulators Are Talking: What the New SEC-FDA Information-Sharing Deal Means for Pharmaceutical Insider Trading Defense

The Regulators Are Talking: What the New SEC-FDA Information-Sharing Deal Means for Pharmaceutical Insider Trading Defense

On August 31, 2026, the Securities and Exchange Commission (SEC) and the Food and Drug Administration (FDA) announced a groundbreaking Memorandum...

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Securities Law @securitieslaw.bsky.social · 08/10/2026

Key Regulatory Updates for Hong Kong Listed Companies - July/August 2026

Key Regulatory Updates for Hong Kong Listed Companies - July/August 2026

The updates include the Stock Exchange’s Consultation Conclusions on listing framework competitiveness, new guidance on digital asset-related...

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Securities Law @securitieslaw.bsky.social · 08/10/2026

Third Circuit Abandons Bright-Line Stock-Price Test for Materiality

Third Circuit Abandons Bright-Line Stock-Price Test for Materiality

On September 30, 2026, the Third Circuit held that the lack of a persistent stock-price decline after a corrective disclosure does not...

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