Brian Janson

Dec 26, 2023 | lexology.com | Christopher Cummings |David Huntington |Brian Janson |Luke Jennings |Christodoulos Kaoutzanis |John Kennedy | +3 more

On December 19, 2023, the U.S. Court of Appeals for the Fifth Circuit vacated the SEC’s share repurchase disclosure rule, which would have required public companies to disclose their reasons for repurchasing shares, and to collect daily repurchase data and file it quarterly. The Fifth Circuit had previously held that the SEC’s adoption of the rule violated the Administrative Procedure Act, and had remanded the matter to the SEC and directed it to correct the noted deficiencies within 30 days.

Nov 15, 2023 | lexology.com | Christopher Cummings |David Huntington |Brian Janson |Luke Jennings

In its October 31, 2023, decision in Chamber of Commerce of the USA v. SEC, the U.S. Court of Appeals for the Fifth Circuit held that the SEC’s recent adoption of its share repurchase disclosure rule requiring public companies to disclose their reasons for repurchasing shares, and to collect daily repurchase data and file it quarterly, violated the Administrative Procedure Act.

Aug 2, 2023 | lexology.com | Jonathan H. Ashtor |H. Christopher Boehning |John Carlin |Christopher Cummings |David Huntington |Brian Janson | +6 more

The SEC has adopted new disclosure requirements to enhance and standardize public company disclosures regarding cybersecurity risk management and incident reporting. Companies will be required to disclose material cybersecurity incidents within four business days on Form 8-K, and to provide annual disclosure regarding their cybersecurity governance and risk management.

Feb 23, 2023 | lexology.com | Christopher Cummings |David Huntington |Brian Janson |Luke Jennings |Christodoulos Kaoutzanis |John Kennedy | +2 more

The SEC has adopted amendments (available here) to Rule 15c6-1 under the Securities Exchange Act of 1934, as amended, to shorten the securities settlement cycle for most transactions to T+1 (from T+2), and for firm commitment offerings priced after 4:30 p.m. to T+2 (from T+4).