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Corp Fin’s New CDI on Filer Determination Status (Good News for Non-Accelerated Filers)

A few weeks ago, Corp Fin issued a new CDI that didn’t get a lot of attention because the SEC didn’t push out an email alert about it like it normally does. The upshot of the CDI is that a non-accelerated filer can now continue to be a non-accelerated filer for the fiscal year immediately following loss of “smaller reporting company” status, on the basis …

SEC Reverses Policy to Be Neutral on Mandatory Arbitration Bylaws

At an Open Commission Meeting last week, the SEC approved a 20-page policy statement reversing a longstanding policy that the Staff wouldn’t accelerate the effectiveness of a registration statement if the company’s bylaws had a provision mandating arbitration. The SEC also made a related change to Rule 431(e) of the Rules of Practice so that the delegated authority for the Staff to declare registration statements …

SEC Likely to Adopt Policy No Longer Prohibiting Mandatory Arbitration Bylaws

The SEC has calendared an Open Commission Meeting for this Wednesday during which it will consider whether to issue a policy statement addressing the presence of a provision requiring arbitration of investor claims arising under the Federal securities laws and its impact on decisions whether to accelerate the effectiveness of a registration statement. If the SEC does adopt such a policy, it would reverse a …

“Rationalization of Disclosure Practices” on the Latest Reg Flex Agenda

The era of SEC Chair Paul Atkins’s tenure has been off to a blistering start – dating back to when Commissioner Mark Uyeda was Acting Chair – and the latest Reg Flex Agenda indicates that changes continue to be afoot that should benefit companies. Atkins issued this statement to explain the Reg Flex Agenda in which he notes his priorities of: As I’ll be blogging …

How Analysts and Investors Use AI to Review Earnings Releases

As borne out by a recent study, analysts and investors are increasingly using AI tools to read and analyze earnings reports (10-Ks, 10-Qs, earnings releases and transcripts) to gain faster insights and identify investment opportunities. These tools leverage natural language processing, machine learning and sentiment analysis to extract, interpret and rank relevant data. Here are some of the ways that analysts and investors use AI …

Nevada Takes First Steps Towards Forming a Business Court

At the end of July, the Chief Justice of the Nevada Supreme Court proposed the adoption of a rule that would create a Commission to look into creating a business court in the two largest judicial districts in Nevada. Here is the court’s docket on that rulemaking, which includes comment letters from interested parties. A hearing was held on the proposal a few days ago, …