In a speech given early in the week at Stanford University’s Rock Center for Corporate Governance, titled, “Mutualism: Reimagining the Role of Shareholders in Modern Corporate Governance,” Commissioner Stein addressed a broad range of topics, including cybersecurity issues and shareholder engagement.  Commissioner Stein also commented on dual class capital structures.  Commissioner Stein, not speaking on

Our recently updated Quick Guide to REIT IPOs provides an overview of the path to an initial public offering for a REIT. The guide also addresses regulatory, tax and accounting considerations relevant to sponsors considering forming a REIT.

To download a copy of the guide, click here.

Bill Hinman, Director of the Securities and Exchange Commission’s Division of Corporation Finance delivered the keynote address at the Practising Law Institute’s annual Securities Regulation in Europe program.  During his speech, Mr. Hinman touched on various topics, including the types of measures that may be undertaken in order to make the capital markets and the

Citibank’s recently released year-end report on depositary receipts (DR) reported that in 2017, $15.6 billion of DR capital was raised across 65 deals, which was a 126% year-over-year change in total capital raised versus 2016 and a 91% year-over-year change in number of capital raisings. The European, Middle East and Africa region saw a total

Below, a continuation of our bibliography of thought-provoking articles on issues related to right-sizing regulation, staying private versus going public, and related topics:

The Unicorn Governance Trap

In her paper, “The Unicorn Governance Trap,” Renee Jones discusses how changes in the start-up and private financing markets have resulted in privately held companies deferring

February 1-2, 2018

JW Marriott Marquis Miami
255 Biscayne Boulevard Way
Miami, FL 33131

The 36th Annual Federal Securities Institute is the premier conference for corporate, securities and M&A practitioners, in-house counsel, executives, and advisors who focus on the middle-market. Senior members of the SEC Staff, the Delaware judiciary and leading Wall Street firms will

PwC recently released its 2017 Annual US Capital Markets Watch report.   The report notes a 77% increase from 2016 in the number of IPOs, with 181 IPOs completed in 2017, raising $44.2 billion in proceeds.  The average size of IPOs in 2017 was $244 million.

The pharmaceuticals and life sciences sector was the most active

In June 2017, the SEC’s Division of Corporation Finance (“Corp Fin”) announced a new policy effective July 2017 that essentially extends the confidential submission process to all issuers while keeping the EGC process unchanged.  The new policy also permits an issuer to submit for confidential review a registration statement filed to register a class of