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Don’t Forget to Coordinate Your ‘EDGAR Next’ Enrollment for Mutual Insiders!

We’ve blogged multiple times about how you should prepare to transition to the SEC’s new “EDGAR Next” platform (here’s our latest post). We are now in that transition period where some companies are voluntarily enrolling in EDGAR Next before it becomes mandatory in September. And, as we blogged about a few months back, some companies have been forced to use EDGAR Next already, since they …

Crypto Companies: “‘Come In and Register’ – Now With Directions”

Here’s the intro from this Cooley Alert penned by Derek Colla, Pang Lee, Rodrigo Seira, Joyce Wang and Will Pao: “For years, the Securities and Exchange Commission’s invitation to crypto companies sounded simple: “Come in and register.” But there was no map, no guide and no obvious way forward – only uncertainty and risk. That changed on April 10, when the SEC’s Division of Corporation …

The DOJ’s Policy Shift to Incentivize Self-Reporting

Earlier this week, the Department of Justice’s Criminal Division released four documents on corporate misconduct, whistleblowers, compliance monitors, and enforcement priorities that outline significant changes to the DOJ’s policies under the Trump Administration. These four documents are: As noted in this speech by the new head of the Criminal Division – Matthew Galeotti – the principal thrust is that the DOJ aims to incentivize self-reporting …

New Executive Order Seeks to Curb Overuse of Criminal Actions Brought By Federal Agencies

Last week, President Trump issued an executive order – entitled “Fighting Overcriminalization in Federal Regulations” – with the goal of curbing the use of criminal penalties otherwise imposed by federal regulations. The executive order argues that citizens can’t possibly know all of the federal regs out there, and that larger companies have an advantage because they can hire lawyers more easily than the average American. …

Unintended Consequences of the SEC’s Buyouts: Few “Going-Away” Parties

As noted in this USA Today article, Senators Elizabeth Warren and Mark Warner sent a letter a few weeks ago to the GAO requesting an investigation into the impact of the SEC’s recent buyouts and the upcoming layoffs resulting from DOGE activities. Anecdotally, it sounds like about 700 staffers accepted buyouts – and that certain Divisions were impacted more than others (like the Division of …

The Coming SEC-PCAOB Merger? Arguments Against Abolishing the PCAOB

The House Financial Services Committee voted to include a provision in the 2025 budget reconciliation bill that would abolish the PCAOB. The proposal would reassign PCAOB functions to the SEC. Unfortunately, if this PCAOB provision stays in the budget reconciliation bill, it’s likely to be the end of the PCAOB. The fate of the PCAOB would be a minor detail in the context of the reconciliation …

Crypto Shake-Up: Narrowing Risks, From Securities Scrutiny to Consumer Claims

Here’s the intro from this Cooley Alert penned by William Pao, Alexander Galicki, Michelle Doolin, Rodrigo Seira and Derek Colla: “Crypto is now in Washington’s good graces – or at least that’s how it may seem. The return of the Trump administration has injected new energy into the crypto asset space, with sweeping rhetoric about “unleashing innovation” and a flurry of early moves that suggest …