Insights

Overview Prediction markets have rapidly evolved from a niche product to a mainstream venue for trading event-based contracts tied to company-specific developments, elections, sports, government actions and economic data. These markets create a new channel for monetizing confidential information outside traditional securities trading. The core risk is that an employee who cannot lawfully trade securities…

Client Alerts | July 22, 2026 | Securities and Corporate Finance

On May 19, 2026, the SEC unanimously voted to propose two companion rulemakings that collectively constitute the most far-reaching revision of the registered offering and public company reporting regimes since the 2005 Securities Offering Reform. The first proposal, Registered Offering Reform (Release No. 33-11418), would substantially broaden eligibility for shelf registration on Form S-3, make…

Client Alerts | May 28, 2026 | Securities and Corporate Finance

On May 5, 2026, the Securities and Exchange Commission proposed amendments that would allow all Exchange Act reporting companies currently required to file quarterly reports on Form 10-Q to elect instead to file a single semiannual report on new Form 10-S.1 The proposal is framed as providing reporting flexibility that could reduce compliance costs and…

Client Alerts | May 8, 2026 | Securities and Corporate Finance

Beginning March 18, 2026, amendments to Section 16(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) will require directors and officers of foreign private issuers (“FPIs”) to file the same insider ownership and transaction reports that apply to insiders of many U.S. domestic issuers. The change applies regardless of whether the covered individuals…

Client Alerts | January 16, 2026 | Investment Management | Mergers & Acquisitions | Securities and Corporate Finance | Special Situations and Credit

A Texas bankruptcy judge has ruled that a post-confirmation litigation trust has no obligations under a litigation funding agreement that had been completely drawn down because the litigation trustee was not authorized to obtain litigation funding. The decision, In re Fresh Acquisitions, LLC, demonstrates the uncertainties in post-confirmation estate administration and serves as a warning…

Client Alerts | September 2, 2025 | Creditors’ Rights and Bankruptcy Litigation | Securities and Corporate Finance

On March 12, 2025, the Division of Corporation Finance of the U.S. Securities and Exchange Commission (“SEC”) issued a no-action letter (the “No-Action Letter”) which clarifies that issuers may generally rely on certain minimum investment levels — principally $200,000 for natural persons and $1 million for legal entities — and related investor representations to verify…

Client Alerts | March 25, 2025 | Hedge Funds | Private Capital | Securities and Corporate Finance

On December 3, 2024, a Federal District Court in Texas issued a nationwide preliminary injunction blocking the enforcement of the Corporate Transparency Act (the “CTA”). Prior to the injunction, the CTA required certain privately owned entities (“reporting companies”) to report information regarding the entities themselves and the individuals who, directly or indirectly, exercise “substantial control” over…

Client Alerts | December 6, 2024 | Estate Planning and Administration | Business Advice and Planning | Acquisitions and Sales | Securities and Corporate Finance