Blog
CFIUS Update Passed by Congress
On August 1, 2018, the U.S. Senate passed the Foreign Investment Risk Review Modernization Act (“FIRRMA”) as part of the Defense Authorization Bill (Title XVII). FIRRMA changes and updates the law setting up the Committee on Foreign Investment in the United States (“CFIUS”), which allowed CFIUS to review certain acquisitions by and mergers with foreign... Read more »
California Adopts New Data Privacy Law
In late June, the California legislature adopted, and Governor Jerry Brown later signed into law, the California Consumer Privacy Act of 2018. See website. The new law was adopted shortly after the effectiveness of the EU’s General Data Protection Regulation (the “GDPR”), and in the wake of public outcry over data protection violations. While it... Read more »
SEC Increases Thresholds for “Smaller Reporting Company”
On June 28, the Securities and Exchange Commission increased the thresholds for “smaller reporting companies” (“SRCs”) and made certain other amendments designed to enlarge the category. See here. “SRCs” are the lowest category of reporting companies (large accelerated filers, accelerated filers, non-accelerated filers and SRCs). They need file only two years of audited financial statements,... Read more »
FINRA Seeks Notification of Broker-Dealer Digital Asset Activity
On July 6, 2018, the Financial Industry Regulatory Authority (“FINRA”) issued Regulatory Notice 18-20 encouraging broker-dealers regulated by it to notify it if the broker-dealer or an affiliate currently engages, or intends to engage, in any activities related to digital assets. FINRA says that this will assist it in monitoring developments in the digital asset... Read more »