Kevin C. Timken

Feb 13, 2024 | lexology.com | Michael H. Altman |Kevin C. Timken |Iqan E. Fadaei

On Wednesday, January 24, 2024, the Securities and Exchange Commission (the “Commission”) adopted new rules and amendments (the “Rules”) to enhance investor protections relating to special purpose acquisition companies (“SPACs”), shell companies, and “de-SPAC” transactions. The Commission has also provided guidance on the use of projections in all SEC filings.

Sep 23, 2023 | lexology.com | Kevin C. Timken |Iqan E. Fadaei |Betsy T. Voter

On September 12, the SEC filed charges against Virtu for allegedly misleading customers about the existence and adequacy of information barriers between its customer execution and proprietary trading businesses. The SEC alleges that Virtu failed to safeguard material nonpublic information generated from customer orders that it routed and executed.

Sep 6, 2023 | lexology.com | Daniel Armel |Linda Emery |Chelsea Kelleher |Elizabeth Rogers |Guy Sereff |Elizabeth Trower | +3 more

The U.S. Securities and Exchange Commission (“SEC”) has adopted new cybersecurity disclosure rules to require current disclosure about material cybersecurity incidents and periodic disclosures of: (i) registrants’ processes to assess, identity, and manage material cybersecurity risks, (ii) management’s role in assessing and managing material cybersecurity risks, and (iii) the board of directors’ oversight of cybersecurity risks.