Category: Securities Exchanges

Mandatory ESG Disclosure for Funds: Why is it Needed?

BY: Taylor Miller, RBFL Student Editor In June 2022, the Securities and Exchange Commission (SEC) announced a new proposed rule that would require certain disclosures from investment advisers and investment companies on their environmental, social, and governance practices. This rule follows in the wake of the European Union’s Sustainable Finance Disclosure Regulation passed in 2018. […]

The SEC’s Proposed Climate Related Disclosure Rule

BY: Will Frigerio, RBFL Student Editor On March 21, 2022, the Securities and Exchange Commission proposed a rule that would require public companies to include climate related disclosures on registration statements and periodic reports. The proposed rule has prompted strong responses, both in support of the rule and arguing against it. Many commentators have questioned […]

Bringing in the Big Dogs: Benefits of SEC’s Proposed Climate Risk Disclosure Rule

BY: Jaclyn Rothenberg, RBFL Student Editor On April 11, 2022, the SEC proposed a new rule: The Enhancement and Standardization of Climate-Related Disclosures for Investors. This rule adds a new subpart to Regulation S-K, which includes three types of emissions disclosures. Scope 1 disclosure requires a company to disclose information about its direct greenhouse gas […]

What is Rule 17 and Rule 17a-4?

BY: Imara Joroff, RBFL Student Editor In 2022, the Securities and Exchange Commission (SEC) reached a record number of ordered money totaling $6.4 billion. This same year, the SEC reached a $1.8 billion settlement with sixteen firms for repeated violations on Rule 17a-4 – Texting Scandals. Rule 17a-4 details the “manner and length of time […]

SEC Rule 14a-8: Should the SEC Narrow the Grounds on Which Registered Issuers May Exclude Shareholder Proposals?

BY: Joseph Brav, RBFL Student Editor SEC Rule 14a-8[i] requires corporations to include eligible shareholders’ proposals in their proxy materials to be voted on at the next shareholder meeting. However, 14a-8 has various exceptions that corporations can rely on to exclude shareholder proposals. 14a-8’s most controversial exception is known as the “ordinary business exception,” which […]

Finfluencers, Meme Stocks, and Regulatory Response

BY: Megan R. Miller, RBFL Student Editor “Finfluencer” activity has exploded in recent years, especially during the COVID-19 pandemic. According to Bloomberg Wealth, “finfluencers” are online personalities who share financial advice, particularly on social media. Social media platforms like YouTube, TikTok, and Instagram are full of young people offering investment, budgeting, and other financial advice […]

Robinhood IPO – Continued Regulatory Issues After Going Public

BY: Aspen Schneider, RBFL Student Editor Throughout its eight years of operation, Robinhood has faced many problems. The company has been penalized by multiple regulatory bodies for a variety of offenses. In response to the penalties, Robinhood has made hopeful additions to the board of directors and made various improvements within the platform. However, regardless […]

The SEC and Climate-Related Disclosures

BY: Jacob Robart, RBFL Student Editor Motivated by strong investor demand, the Securities and Exchange Commission is expected to announce new rules for climate-related disclosures. In crafting a new climate disclosure framework, the SEC will be guided by the principles of consistency and comparability while seeking to mandate disclosures that will be decision useful to […]

Regulatory Landscape in Wyoming and Wyoming’s Leadership in Cryptocurrency

BY: Melissa Pereira, RBFL Student Editor Cryptocurrency (“Crypto”) financial technology may be the future of transacting. However, there are regulatory obstacles to overcome before widespread adoption and usage can be achieved. My developmental article extensively discusses these regulatory obstacles, the need for a clear regulatory framework of crypto, Wyoming’s leadership in implementing crypto-friendly regulation, as […]

SEC Changes to Shareholder Proxy Rules RE Shareholder Proposals and Voting Advice and Implications for Corporate Governance

By: Ashley Riley, RBFL Student Editor This past Fall, the SEC finalized amendments to Exchange Act Rules regarding proxy voting advice and solicitation, as well as shareholder proposals. Amendments to section 14a-1(l) of the Exchange Act will explicitly define the services rendered by proxy advisors as “solicitation.” This will make it illegal to solicit proxy […]