Navigation
Copyright 2015. All rights reserved.

Latest News & Reports

Events | 4 Jul 2023
4 July 2023 Breakfast Seminar |UK Capital Markets in 2023: Mid-Year Review and Legal Update. Thomson Reuters Practical Law and the Forum for US Securities Lawyers in London (the “Forum”) are teaming up to bring you a 4th of July breakfast event to update you on market trends and legal developments in the UK equity and debt capital markets.  We have a panel of market and legal experts lined up to talk about factors impacting ...
Events | 22 Nov 2022
Seminar & Networking Reception | Launch of the 2023 International Capital Markets Glossary. We are excited to invite you to our Thanksgiving-themed drinks and canapés reception to celebrate the launch of our updated International Capital Markets Glossary 2023, sponsored by M&A technology partner, Datasite. The launch event will be held on Tuesday, 22 November from 6:00 PM – 8:30 PM and hosted by our friends at Davis Polk in their offices in the City (5 Aldermanbury Square, London EC2V 7HR). ...
Events | 6 Jul 2022
Seminar & Networking Reception | UK ECM in 2022: Mid-Year Review and Legal Update. Thomson Reuters Practical Law and the Forum for US Securities Lawyers in London (the “Forum”) are teaming up to bring you a capital markets focused panel event to update you on business trends and legal developments in UK capital markets.  We will kick off with a business-focused panel of market experts (including Goldman Sachs and Reuters) to talk about factors impacting ...
Reports | 21 Jan 2021
2020 Annual Report. We are pleased to share with you the 2020 Annual Report on the activities of the Forum for US Securities Lawyers in London (“Forum”). We know that 2020 was a challenging year for many in the wake of the COVID-19 pandemic and was certainly an eventful year for capital markets and US securities laws. We wish you all ...
Podcasts & Webinars | 3 Nov 2020
Webinar | US Companies Listed in London: Navigating Reg S, Cat 3 for Offerings and Secondary Trades. In this webinar we explore US companies on the London Stock Exchange (“the Exchange”) five years on from the launch of the electronic trading and settlement system launched jointly by the Exchange and Euroclear UK and Ireland (EUI) to support compliance with Regulation S, Category 3 (Reg S, Cat 3) requirements under US securities laws.  ...
Digests | 18 Oct 2020
US Securities Law Digest: October 2020. Please find below the October 2020 issue of the US Securities Law Digest (the “Digest”). This Digest is intended to provide a compilation of recent legal news relevant to a capital markets practice in the London and international markets. The news pieces have been collected and summarized from various sources, and links to the original sources are provided.   To view ...
Digests | 30 Jun 2020
US Securities Law Digest: June 2020. Please find below the June 2020 issue of the US Securities Law Digest (the “Digest”). This Digest is intended to provide a compilation of recent legal news relevant to a capital markets practice in the London and international markets. The news pieces have been collected and summarized from various sources, and links to the original sources are provided.   As with ...
Podcasts & Webinars | 30 Jun 2020
Webinar | UK ECM in 2020: A Mid-Year Review and Update. The Forum for US Securities Lawyers in London (the “Forum”) is teaming up again with Thomson Reuters Practical Law to bring you an ECM-focused webinar to update you on business and legal trends in UK capital markets.  We will kick off with a business-focused discussion with market experts (including the London Stock Exchange and Reuters) to talk about ECM ...
Podcasts & Webinars | 18 Jun 2020
Webinar | Deals in the Age of COVID-19: US Securities Hot Topics and Market Practice. The COVID-19 pandemic has brought about a dramatic and wide-ranging impact on our way of life and created huge economic pressures around business continuation and working capital for public companies.  We have seen a surge in capital raises through secondary offerings as one tool to relieve this pressure.  Please join the Forum for US Securities Lawyers in London onThursday, ...
Digests | 16 Apr 2020
US Securities Law Digest: April 2020. Please find below the April 2020 issue of the US Securities Law Digest (the “Digest”). This Digest is intended to provide a compilation of recent legal news relevant to a capital markets practice in the London and international markets. The news pieces have been collected and summarized from various sources, and links to the original sources are provided.   ...
Digests | 26 Mar 2020
US Securities Law Digest: March 2020. Please find below the March 2020 issue of the US Securities Law Digest (the “Digest”).  This update is intended to provide a compilation of recent legal news relevant to a capital markets practice in the London and international markets. The news pieces have been collected and summarized from various sources, and links to the original sources are provided.   ...
Events | 22 Jan 2020
Breakfast Seminar | ECM 2020: Trends, Predictions and Legal Update. On Wednesday, 22 January The Forum for US Securities Lawyers in London (the “Forum”) teamed up with Thomson Reuters Practical Law to bring you an ECM-focused breakfast event to help jump start your practice for the new year!   THOMSON REUTERS PRACTICAL LAW CAPITAL MARKETS HAVE PREPARED A SUMMARY ARTICLE HIGHLIGHTING KEY THEMES FROM THIS SEMINAR, WHICH CAN BE ...
Podcasts & Webinars | 18 Dec 2019
Video Webinar | Equity Capital Markets: 2019 Trends and Predictions for 2020 (Practical Law). The Forum for US Securities London in London is collaborating with Practical Law to create video content on legal updates, best practice, and hot topics.   Please click on the image below to be redirected to the Practical Law website. This video will remain free to view until 25 December 2019, after which you will need a Practical Law subscription to access. ...
Podcasts & Webinars | 5 Dec 2019
Webinar | US Securities Law and International Regulatory Changes for Custody and Settlement. This webinar was recorded on Tuesday, 3 December at Ashurst during our Breakfast Briefing where we reviewed regulatory changes around custody and settlement including a discussion of:   1 US Securities laws  -Regulation S including Category Analysis            -Investment Company Act and Common Exemptions including Section 3(c)(7)  and Section 3(c)(1)           -Cross ...
Events | 3 Dec 2019
Breakfast Briefing: US Securities Law and International Regulatory Changes for Custody and Settlement. Please join us on Tuesday, 3 December at Ashurst for this breakfast briefing reviewing regulatory changes around custody and settlement including a discussion of:   1 US Securities laws             -Regulation S including Category Analysis            -Investment Company Act and Common Exemptions including Section 3(c)(7)  and Section 3(c)(1)       ...
Letters | 26 Sep 2019
SEC Comment Letter: Private Placements Concept Release. On 24 September 2019,  The Forum For US Securities Lawyers in London submitted a comment letter to the  U.S. Securities and Exchange Commission in response to the “Concept Release on Harmonization of Securities Offering Exemptions” issued on 18 June 2019 by the Commission. The comment letter was produced by a working group of the Forum including law firms, investment ...
Podcasts & Webinars | 12 Sep 2019
Video Webinar | Rule 10b-5 Due Diligence Process (Practical Law). The Forum for US Securities London in London is collaborating with Practical Law to create video content on legal updates, best practice, and hot topics.   Please click on the image below to be redirected to the Practical Law website. You must be a subscriber of Practical Law to view this video. This video discusses the Rule 10b-5 due ...
Podcasts & Webinars | 2 Sep 2019
Video Webinar | Rule 10b-5 Disclosure Letters: What They Are and How They Work (Practical Law). The Forum for US Securities London in London is collaborating with Practical Law to create video content on legal updates, best practice, and hot topics.   Please click on the image below to be redirected to the Practical Law website. You must be a subscriber of Practical Law to view this video. This video discusses Rule 10b-5 disclosure letters ...
Digests | 1 Jul 2019
US Securities Law Digest: July 2019. Please find below the July 2019 issue of the US Securities Law Digest. This update is intended to provide a compilation of recent legal news relevant to a capital markets practice in the London and international markets. The news pieces have been collected and summarized from various sources, and links to the original sources are ...
Digests | 26 Mar 2019
US Securities Law Digest: March 2019. Please find below the March 2019 issue of the US Securities Law Digest. This update is intended to provide a compilation of recent legal news relevant to a capital markets practice in the London and international markets. The news pieces have been collected and summarized from various sources, and links to the original sources are ...
Podcasts & Webinars | 30 Jan 2019
Video Webinar | Capital Markets: 2018 trends and predictions for 2019 (Practical Law). The Forum for US Securities London in London is collaborating with Practical Law to create video content on legal updates, best practice, and hot topics. Please find the description and link below to the second in this series.  You must be a subscriber to Practical Law to view this video. A new video, “Capital Markets: 2018 trends and predictions ...
Podcasts & Webinars | 10 Dec 2018
Podcast | ELITE: The London Stock Exchange Group’s Programme Supporting Growth Companies. In this podcast we discuss ELITE, the London Stock Exchange Group’s international business-support and capital-raising programme for ambitious and fast growing companies. ELITE is an ecosystem designed to help ambitious companies scale up, structure for growth, and be more competitive in the global marketplace. ELITE combines education, business support, mentoring, and access to expertise and ...
Events | 19 Nov 2018
Thanksgiving Drinks Celebration – Monday, 19 November 2018. We are delighted to invite you to a Thanksgiving social gathering of the Forum for US Securities Lawyers in London. Come and meet other capital markets practitioners over drinks and canapés with fantastic views from the 32nd floor.  We will be celebrating the season, and well as the launch of our new podcast series and ...
Podcasts & Webinars | 18 Nov 2018
Video Webinar | UK IPO reform: Update on implementation and market practice (Practical Law). The Forum for US Securities London in London is collaborating with Practical Law to create video content on legal updates, best practice, and hot topics. Please find the description and link below to the first in this series.  You must be a subscriber to Practical Law to view this video. A new video, “UK IPO reform: ...
Podcasts & Webinars | 8 Nov 2018
Podcast | Capital Markets & Technology: Blockchain 101 (Part 2 of 2). Join us for the second half of our discussion where we demystify block chain and explore its application to the legal sector and capital markets. (Part 2 of 2) Speakers: Edward Bibko, EMEA Head of Investment Banking Legal, Major Investment Bank Rob Chepak, Founder & CEO, Verichain Partners Cynthia O’Donoghue, Vice-Chair IP, Tech & Data ...
Podcasts & Webinars | 29 Oct 2018
Podcast | Capital Markets & Technology: Blockchain 101 (Part 1 of 2). Join us for part one of our discussion demystifying block chain and exploring its application to the legal sector and capital markets. (Part 1 of 2) Speakers: Edward Bibko, EMEA Head of Investment Banking Legal, Major Investment Bank Rob Chepak, Founder & CEO, Verichain Partners Cynthia O’Donoghue, Vice-Chair IP, Tech & Data Group, Reed Smith ...
Digests | 22 Oct 2018
US Securities Law Digest: October 2018. Please find below the October 2018 issue of the US Securities Law Digest. This update is intended to provide a compilation of recent legal news relevant to a capital markets practice in the London and international markets. The news pieces have been collected and summarized from various sources, and links to the original sources are provided. ...
Digests | 19 Jul 2018
US Securities Law Digest: July 2018. Please find below the July 2018 issue of the US Securities Law Digest. This update is intended to provide a compilation of recent legal news relevant to a capital markets practice in the London and international markets. The news pieces have been collected and summarized from various sources, and links to the original sources are provided. ...
Podcasts & Webinars | 27 Jun 2018
Podcast | Technology and the Future of Capital Markets. This podcast features a panel of experts discussing the impact of changing technology on capital markets. Speakers: Edward Bibko, EMEA Head of Investment Banking Legal, Major Investment Bank Nawaz Imam, CEO, Issufy; Giselle Frederick, Founder & CEO, Zingr; Daniel Winterfeldt, Partner, Reed Smith;    and Delphine Currie, Partner, Reed Smith Date recorded: 19 June 2018   ...
Digests | 10 May 2018
US Securities Law Digest: May 2018. Please find below the May 2018 issue of the US Securities Law Digest. This update is intended to provide a compilation of recent legal news relevant to a capital markets practice in the London and international markets. The news pieces have been collected and summarized from various sources, and links to the original sources are provided. Click ...
Digests | 15 Feb 2018
US Securities Law Digest: February 2018. Please find below the February 2018 issue of the US Securities Law Digest. This update is intended to provide a compilation of recent legal news relevant to a capital markets practice in the London and international markets. The news pieces have been collected and summarized from various sources, and links to the original sources are provided. Click ...
Digests | 6 Jul 2017
US Securities Law Digest: Spring/Summer 2017. Please find below the Spring/Summer 2017 issue of the US Securities Law Digest, for the period of March, April, May, and June 2017.  This update is intended to provide a compilation of recent legal news relevant to a capital markets practice in the London and international markets. The news pieces have been collected and summarized from ...
Updates | 14 Dec 2016
SEC Issues New C&DI on Electronic Procedures under Regulation S, Rule 903. On December 8, 2016, the staff of the Division of Corporation Finance of the Securities and Exchange Commission (the “SEC”) issued a new Compliance and Disclosure Interpretation number 277.05 relating to electronic procedures (the “C&DI”). The C&DI is directly relevant to the Forum’s involvement in canvassing market views on the London Stock Exchange’s implementation of ...
Digests | 12 Dec 2016
US Securities Law Digest: December 2016. Please find below the December 2016 issue of the US Securities Law Digest, for the period of October, November, and December 2016. This update is intended to provide a compilation of recent legal news relevant to a capital markets practice in the London and international markets. The news pieces have been collected and summarized from various ...
Updates | 6 Dec 2016
SEC Issues New C&DI on Regulation D. On November 17, 2016, the Division of Corporation Finance of the Securities and Exchange Commission (the “SEC”) issued a new compliance and disclosure interpretation (“C&DI”) addressing certain provisions of Regulation D (“Regulation D”) under the Securities Act of 1933, as amended (the “Securities Act”).  C&DI 256.34 involves a fact pattern in which an issuer conducted ...
Updates | 19 Oct 2016
Electronic Settlement for US Regulation S, Category 3 Securities Trading on the London Stock Exchange. We are delighted that the Forum was “Highly Commended” at the Financial Times Innovative Lawyers 2016 Awards this month (5 October 2016) for project-managing the London Stock Exchange’s roll-out of electronic settlement for US Regulation S, Category 3 equity securities (“Regulation S, Category 3 Securities”) in accordance with EU regulations and in compliance with US ...
Reports | 14 Sep 2016
A Decade-in-Review. The Forum for US Securities Lawyers in London (the “Forum”) is proud to present its Decade-in-Review, which sets forth the Forum’s activities since its inception in 2006. View the report here.
Updates | 17 Jun 2016
Regulation Crowdfunding Becomes Effective and the SEC Releases Related C&DIs. On May 16, 2016, Regulation Crowdfunding became effective. Ahead of this effective date on May 13, 2016, the U.S. Securities and Exchange Commission (the “SEC”) released a new set of Regulation Crowdfunding Compliance and Disclosure Interpretations (“C&DIs”) addressing, among other topics, public communications, investment limitations and balance sheet disclosures for recently formed issuers. View Update
Digests | 17 Jun 2016
US Securities Law Digest: May 2016. Please find below the May 2016 issue of the US Securities Law Digest, for the period of March, April and May 2016. This update is intended to provide a compilation of recent legal news relevant to a capital markets practice in the London and international markets. The news pieces have been collected and summarized from various ...
Updates | 4 Apr 2016
NYSE Manual is Amended to Require Foreign Private Issuers to Report Semi-Annually. On February 5, 2016, the New York Stock Exchange LLC (“NYSE”) made a filing with the Securities and Exchange Commission (“SEC”) for a proposed rule change amending the NYSE Listed Company Manual (the “Manual”) to adopt a requirement that NYSE-listed foreign private issuers must, at a minimum, submit a Form 6-K to the SEC containing ...
Updates | 31 Mar 2016
SEC Enforcement Results and Trends for 2015 and Outlook for 2016. In recent years, the Securities and Exchange Commission (the “SEC”) has been vocal about its heightened policing efforts.  Recently SEC Chair, Mary Jo White, has emphasized that “aggressive enforcement against wrongdoers who harm investors and threaten our financial markets remains a top priority, and we brought and will continue to bring creative and important enforcement ...
Digests | 1 Mar 2016
US Securities Law Digest: March 2016. Please find below the March 2016 issue of the US Securities Law Digest, for the period of December 2015, January 2016 and February 2016. This update is intended to provide a compilation of recent legal news relevant to a capital markets practice in the London and international markets. The news pieces have been collected and ...
Updates | 15 Feb 2016
SEC Soliciting Comments on Proposed Increased Regulation of certain Alternative Trading Systems, including Dark Pools. On November 18, 2015, the U.S. Securities and Exchange Commission (the “SEC”) announced that it had “voted to propose rules to enhance operational transparency and regulatory oversight of alternative trading systems (“ATSs”) that trade stocks listed on a national securities exchange . . . , including ‘dark pools’.” Dark pools are ATSs which allow off-exchange ...
Updates | 3 Feb 2016
Implications of the FAST Act to Foreign Private Issuers. On December 4, 2015, the Fixing America’s Surface Transportation Act (“FAST Act”) was enacted. Although the FAST Act is aimed principally at facilitating highway and transit projects, it includes several U.S. securities law-related provisions, primarily amendments to the Jumpstart Our Business Startups Act (“JOBS Act”). A summary of the FAST Act’s key U.S. securities law-related ...
Reports | 1 Jan 2016
Annual Review 2015. Please find the Forum Year-In-Review online here, which looks at the Forum’s activities in 2015. The Forum had a very successful 2015 with the publication of our International Capital Markets Glossary and our leading role in implementing electronic settlement of Regulation S, Category 3 securities trading on the London Stock Exchange. We wish you a ...
Digests | 1 Dec 2015
US Securities Law Digest: December 2015. Please find below the December 2015 issue of the US Securities Law Digest. This update is intended to provide a compilation of recent legal news relevant to a capital markets practice in the London and international markets. The news pieces have been collected and summarized from various sources, and links to the original sources are ...
Updates | 27 Nov 2015
SEC Guidance on Online Private Placements and General Solicitation under Regulation D. In mid-2015, Citizen VC, Inc. (“Citizen VC”), an online venture capital firm offering securities, requested no-action relief from the U.S. Securities and Exchange Commission (the “SEC”). In granting the no-action request, the SEC clarified procedures that can be used to establish a pre-existing, substantive relationship with investors so as to avoid “general solicitation and general ...
Updates | 9 Nov 2015
Regulation Crowdfunding – the SEC adopts Final Rules for U.S. companies. On October 30, 2015, the U.S. Securities and Exchange Commission (the “SEC”) adopted final rules under Title III of the Jumpstart Our Business Startups Act (the “JOBS Act”) permitting individuals to invest in U.S. companies via securities-based crowdfunding pursuant to Section 4(a)(6) of the U.S. Securities Act of 1933, as amended (the “Securities Act”) (“Regulation ...
Digests | 1 Oct 2015
US Securities Law Digest: October 2015. Please find below the October 2015 issue of the US Securities Law Digest. This update is intended to provide a compilation of recent legal news relevant to a capital markets practice in the London and international markets. The news pieces have been collected and summarized from various sources, and links to the original sources are ...
Updates | 3 Sep 2015
Regulation S, Category 3 Securities Trading on the London Stock Exchange Can Now Settle Electronically In Compliance With The EU CSDR. On August 2014, Article 3(2) of the EU Regulation on Central Securities Depositories (“CSDR”) was enacted. This provision indirectly mandates change to the London Stock Exchange’s (the “Exchange”) rules in that it requires that all securities on EU trading venues must be recorded in electronic (i.e. book-entry) form in a Central Securities Depository (“CSD”).  The ...
Updates | 6 Jul 2015
SEC Charges Private Equity Firm with Misallocating Broken Deal Expenses in Breach of Fiduciary Duty. On June 29, 2015 the Securities and Exchange Commission (the “SEC”) charged New York based private equity firm, Kohlberg Kravis Roberts & Co. (“KKR”) with a misallocation of certain expenses in breach of its fiduciary duty. View Update: http://us6.campaign-archive1.com/?u=ffc2638a0f18d7cae15bbc4e5&id=436303e245
Digests | 1 Jun 2015
US Securities Law Digest: June 2015. Please find below the June 2015 issue of the US Securities Law Digest. This update is intended to provide a compilation of recent legal news relevant to a capital markets practice in the London and international markets. The news pieces have been collected and summarized from various sources, and links to the original sources are ...
Updates | 12 May 2015
Electronic settlement for US Regulation S, Category 3 securities extended until 1 September 2015. The London Stock Exchange (the “Exchange”) has yesterday announced an extension of the 1 June 2015 deadline for the electronic settlement of Regulation S, Category 3 securities to 1 September 2015. As such, the Exchange will remove the exclusion of “Regulation S, Category 3” securities from its Rule 5025 at that time, rather than on ...
Updates | 11 May 2015
Accredited Investor Definition: Recommendations made by the SEC Advisory Committee on Small and Emerging Companies. Several weeks ago, the Advisory Committee on Small and Emerging Companies (the “Committee”) of the Securities and Exchange Commission (the “SEC”) set forth its rather limited recommendations regarding the definition of Accredited Investor (“AI”) as it applies to natural persons as found in Rule 501 under the Securities Act of 1933, as amended.   In ...
Events | 1 Apr 2015
The Launch of the Forum’s US Securities Law & Capital Markets Glossary. Please join us for drinks and canapés to celebrate the publication of the Forum's long-awaited International Capital Markets Glossary. The printing of the Glossary has been generously sponsored by RR Donnelley.
Updates | 27 Mar 2015
Dark Pools face an increase in SEC Enforcement Actions. Dark pools are alternative trading systems (“ATS”) which allow off-exchange trading of securities for institutional investors. While any trades can be executed on a dark pool, they are typically used for block trades and are not accessible to the general public; trades on dark pools are executed anonymously and they do not display price quotes ...
Digests | 1 Mar 2015
US Securities Law Digest: April 2015. Please find below the April 2015 issue of the US Securities Law Digest. This update is intended to provide a compilation of recent legal news relevant to a capital markets practice in the London and international markets. The news pieces have been collected and summarized from various sources, and links to the original sources are provided. We ...
Updates | 17 Feb 2015
Impact of SEC Social Media Regulation and Cyber Disclosure. Please find below a U.S. securities law update on: 1) market developments in the SEC’s regulation of social media; and 2) the Willis Fortune 500 Cyber Disclosure Report. The Forum’s alerts are intended to keep you up to date with recent legal news relevant to a capital markets practice in the London and international markets. ...
Updates | 17 Feb 2015
SEC Obtains Preliminary Injunction in Foreign-based Fraud Case. A recent case involving the Securities and Exchange Commission provides evidence of the SEC’s willingness to use enforcement resources to pursue foreign-based frauds that touch upon US jurisdictional means. In Litigation Release No. 22673 issued on April 16, 2013, the Securities and Exchange Commission petitioned the District Court for the Northern District of Georgia for ...
Updates | 17 Feb 2015
SEC FAQs on Rule 15a-6 and Foreign Broker-Dealers. Recently, a set of Frequently Asked Questions (FAQs) was released by the staff of the Securities and Exchange Commission’s Division of Trading and Markets regarding Rule 15a-6 and foreign broker-dealers. Rule 15a-6 under the Securities Exchange Act of 1934 provides conditional exemptions from broker-dealer registration (including chaperoning) for foreign broker-dealers that engage in certain specified ...
Digests | 17 Feb 2015
US SECURITIES DIGEST – MARCH 2013. Last year, the Forum for US Securities Lawyers in London started to produce a monthly US Securities Law Digest. These monthly updates are intended to provide a compilation of recent legal news relevant to a capital markets practice in the London and international markets. The news pieces have been collected from various sources and links ...
Updates | 6 Feb 2015
SEC Issues updated Compliance & Disclosure Interpretations, including with respect to Rule 905 of Regulation S. In late January, the U.S. Securities and Exchange Commission (the “SEC”) issued updated Compliance and Disclosure Interpretations (“CD&I”), including with respect to Rule 905 of Regulation S. See the full CD&I here. Rule 905 of Regulation S provides that equity securities of domestic issuers acquired through a transaction under Rule 901 or Rule 903 are ...
Digests | 17 Dec 2014
US SECURITIES LAW DIGEST: DECEMBER 2014. Please find below the December 2014 issue of the US Securities Law Digest. This update is intended to provide a compilation of recent legal news relevant to a capital markets practice in the London and international markets. The news pieces have been collected and summarized from various sources, and links to the original sources are ...
Digests | 17 Nov 2014
US SECURITIES LAW DIGEST – NOVEMBER 2014. Please find below the June 2014 issue of the US Securities Law Digest. This update is intended to provide a compilation of recent legal news relevant to a capital markets practice in the London and international markets. The news pieces have been collected and summarized from various sources, and links to the original sources are ...
Digests | 17 Sep 2014
US SECURITIES LAW DIGEST – SEPTEMBER 2014. Please find below the September 2014 issue of the US Securities Law Digest. This update is intended to provide a compilation of recent legal news relevant to a capital markets practice in the London and international markets. The news pieces have been collected and summarized from various sources, and links to the original sources are ...
Digests | 17 Jun 2014
US SECURITIES LAW DIGEST – JUNE 2014. Please find below the June 2014 issue of the US Securities Law Digest. This update is intended to provide a compilation of recent legal news relevant to a capital markets practice in the London and international markets. The news pieces have been collected and summarized from various sources, and links to the original sources are ...
Digests | 17 Feb 2014
US SECURITIES LAW DIGEST – FEBRUARY 2014. Please find below the February 2014 issue of the US Securities Law Digest. This update is intended to provide a compilation of recent legal news relevant to a capital markets practice in the London and international markets. The news pieces have been collected and summarized from various sources, and links to the original sources are ...
Updates | 30 Nov 2013
SEC Issues New Guidance on Rule 144A and New Rule 506(c). On November 13, 2013, the Division of Corporation Finance of the U.S. Securities and Exchange Commission (the “SEC”) issued eleven new Compliance and Disclosure Interpretations (“C&DIs”) relating to Rule 144A and the new Rule 506(c) of Regulation D (“Rule 506(c)”) under the U.S. Securities Act of 1933 (the “Securities Act”). These C&DIs help to clarify ...
Reports | 19 Sep 2013
PLI One-Hour Briefing: London Investment Company Act Equity Procedures 2012. PLI Briefing, September 19, 2013 – International Implications of the Recent JOBS Act Amendments 20 November 2012 at 16:00 GMT The Forum for U.S. Securities Lawyers in London has recently launched the final draft of the London Equity Procedures 2012 (the “Procedures”), which include a menu of procedures and considerations to be used by issuers ...
Reports | 19 Sep 2013
PLI Briefing, September 19, 2013 – International Implications of the Recent JOBS Act Amendments. The Forum for US Securities Lawyers in London recently hosted a Roundtable discussion on August 14th regarding the July 10, 2013 JOBS Act amendments eliminating the prohibition on “general solicitation” and “general advertising” under Rule 506(c) of Regulation D and Rule 144A. For a summary document stemming from the Roundtable discussions, please click here. We ...
Digests | 17 Jul 2013
US Securities Law Digest – July & August 2013. Last year, the Forum for US Securities Lawyers in London started to produce a monthly US Securities Law Digest. These monthly updates are intended to provide a compilation of recent legal news relevant to a capital markets practice in the London and international markets. The news pieces have been collected from various sources and links ...
Digests | 17 May 2013
US SECURITIES LAW DIGEST – MAY 2013. Last year, the Forum for US Securities Lawyers in London started to produce a monthly US Securities Law Digest. These monthly updates are intended to provide a compilation of recent legal news relevant to a capital markets practice in the London and international markets. The news pieces have been collected from various sources and links ...
Digests | 17 Apr 2013
US SECURITIES DIGEST – APRIL 2013. Last year, the Forum for US Securities Lawyers in London started to produce a monthly US Securities Law Digest. These monthly updates are intended to provide a compilation of recent legal news relevant to a capital markets practice in the London and international markets. The news pieces have been collected from various sources and links ...
Updates | 14 Mar 2013
Forum Alert / SELECT HIGHLIGHTS OF THE PRACTICING LAW INSTITUTE’S “SEC SPEAKS” CONFERENCE. The Forum for US Securities Lawyers in London (the “Forum”) attended the PLI’s SEC Speaks conference in Washington, DC on Feb 22-23, 2013. The forum update highlights a few key topics from the conference. While we hope these highlights are informative, we encourage you to attend the SEC Speaks conference next year in person or ...
Digests | 18 Feb 2013
February US Securities Law Digest. A few months ago, the Forum for US Securities Lawyers in London started to produce a monthly US Securities Law Digest. These monthly updates are intended to provide a compilation of recent legal news relevant to a capital markets practice in the London and international markets. The news pieces have been collected and summarized from ...
Digests | 17 Feb 2013
US SECURITIES LAW DIGEST – AUTUMN 2013. Please find below the July/August issue of the U.S. Securities Law Digest. This update is intended to provide a compilation of recent legal news relevant to a capital markets practice in the London and international markets. The news pieces have been collected and summarized from various sources, and links to the original sources are provided. ...
Digests | 18 Jan 2013
January US Securities Law Digest. We hope you have had a joyous holiday season and a Happy New Year! Last year the Forum for US Securities Lawyers in London started to produce a monthly US Securities Law Digest. The monthly updates are intended to provide a compilation of recent legal news relevant to a capital markets practice in the London ...
Digests | 21 Dec 2012
December US Securities Law Digest. The Forum for US Securities Lawyers in London has recently started to produce a monthly US Securities Law Digest. The monthly updates are intended to provide a compilation of recent legal news relevant to a capital markets practice in the London and international markets. The news pieces have been collected and summarized from various sources, ...
Digests | 12 Dec 2012
October/November US Securities Law Digest. Please see below the first of the Forum’s new monthly legal updates. The monthly updates are intended to provide a compilation of recent legal news relevant to a capital markets practice in the London and international markets. The news pieces have been collected and summarized from various sources, and links to the original sources are ...
Updates | 12 Dec 2012
Guide to US Foreign Corrupt Practices Act Released. Guide to Foreign Corrupt Practices Act Released by the Securities and Exchange Commission and the US Department of Justice.
Letters | 5 Oct 2012
JOBS Act – SEC Comment Letter (Revised). View Letter Here   Via Email: rule-comments@sec.gov October 5, 2012 U.S. Securities and Exchange Commission 100 F Street NE Washington, DC 20549-1090 Attention: Ms. Elizabeth M. Murphy, Secretary Re: Request for Public Comments on SEC JOBS Act Provision about General Solicitation and Advertising in Securities Offerings Dear Ms. Murphy: This letter is submitted on behalf ...
Letters | 12 Jun 2012
Comment Letter on the JOBS Act from the Forum for U.S. Securities Lawyers in London. Year 2 Project – Regulation S, Category 3 Year Two Project Investment Company Act Section 3(c)(7) Model Procedures for Equity Issuances in the London Capital Markets In July 2012 the Forum submitted a comment letter with respect to the rules the Securities and Exchange Commission (the “Commission”) is required to adopt pursuant to the Jumpstart ...
Reports | 4 May 2012
Investment Company Act Section 3(c)(7) Model Procedures for Equity Issuances in the London Capital Markets. These model procedures (the “London Equity Procedures 2012”) for equity issuances in the London capital markets under Section 3(c)(7) (“Section 3(c)7)”) of the Investment Company Act of 1940, as amended (the “Investment Company Act”) contain procedures designed specifically for the London capital markets that may be used by non-U.S. investment companies seeking exemption from registration ...
Updates | 10 Apr 2012
Overview of Important US Securities Law Related Federal Court Cases in 2011/12 (April 3, 2012). Overview of Important US Securities Law Related Federal Court Cases in 2011/12   View Update
Updates | 28 Jun 2010
Extraterritorial reach of Section 10(b) and Rule 10b-5 Liability: Supreme Court Ruling in Morrison v. National Australia Bank Limited (June 28, 2010). This update is a summary for general information only. It is not a full analysis of the matters presented and should not be relied upon as legal advice.
Reports | 1 Jan 2010
Annual Report 2009. Rule 15a-6 Comment Letter(September 2008) Year 2 Project – Regulation S, Category 3 Year Two Project Annual Report for 2009, summarizing the Forum’s activities for 2009. View Report
Updates | 1 Dec 2009
Proposed Repeal of TEFRA C and D (December 01, 2009). On October 27, 2009, the Foreign Account Tax Compliance Act of 2009 (the “Bill”) was introduced by Senate Finance Committee Chairman Max Baucus, Senator John Kerry and Congressmen Charlie Rangel and Richard Neal. The Bill is comprised of numerous proposals designed to combat US tax evasion. The focus of this note is on the proposed ...
Reports | 1 Jan 2009
Annual Report 2008. Annual Report for 2008, summarizing the Forum’s activities for 2008 View Report
Updates | 19 Sep 2008
US Securities and Exchange Commission Halts Short Selling of Financial Stocks to Protect Investors and Markets (September 19, 2008). US Securities and Exchange Commission Halts Short Selling of Financial Stocks to Protect Investors and Markets
Letters | 4 Sep 2008
Rule 15a-6 Comment Letter (September 2008). The comment letter generally supports the Commission’s efforts to expand the scope of activities that a foreign broker-dealer could conduct in the United States without the need for registration and the simplification of procedures and the increased direct access and interaction with U.S. investors that the Proposals envisage. However, there are some areas where we ...
Updates | 28 Aug 2008
SEC votes unanimously to modernize the disclosure requirements for foreign private issuers (August 28, 2008). The US Securities and Exchange Commission votes unanimously to modernize the disclosure requirements for foreign private issuers.
Letters | 4 Jun 2008
Cross Border Tender Offer Proposal Comment Letter (June 23, 2008). The letter comments on the Cross-Border Tender Offer Proposal in the following areas: a) Support for raising the Tier 1 exemption threshold to 15%; b) Comments on proposals related to the U.S. ownership calculation date for negotiated and non-negotiated transactions, including: Support of change to announcement date as reference date; Support of allowance of a ...
Letters | 4 Apr 2008
Rule 12g3-2(b) Comment Letter (April 2008). Regulation D Comment Letter (October 2007) Annual Report 2008 The comment letter generally supports the SEC’s attempt to modernize the exemption regime under Section 12(g) for foreign private issuers. However, there were again some areas where we suggested modifications or alternative approaches to the Proposals. The letter includes comments for the SEC in the following ...
Updates | 14 Feb 2008
Foreign Issuer Reporting Enhancements (February 14, 2008). SEC Proposes Changes Affecting Foreign Private Issuers.
Reports | 4 Jan 2008
Annual Report 2007. Annual Report for 2007, summarizing the Forum’s activities for 2007 View Report
Updates | 19 Nov 2007
Rules 144 and 145 and Elimination of Reconciliation Requirement to U.S. GAAP for IFRS-Reporting Foreign Private Issuers (November 19, 2007). SEC Revisions to Securities Act Rules 144 and 145 and Elimination of Reconciliation Requirement to U.S. GAAP for IFRS-Reporting Foreign Private Issuers
Updates | 19 Nov 2007
Rule 144 and Rule 145 under the Securities Act (November 19, 2007). SEC Revisions to Securities Act Rules 144 and 145 and Elimination of Reconciliation Requirement to U.S. GAAP for IFRS-Reporting Foreign Private Issuers
Letters | 4 Oct 2007
Regulation D Comment Letter (October 2007). The comment letter generally supports the efforts to rationalize and streamline the law applicable to offerings that are not registered under the Securities Act. It argues that in the light of recent market and technological developments, the laws relating to private offerings need to be revisited. However, with respect to the SEC Proposal to revise ...
Reports | 4 Aug 2007
Year 2 Project – Regulation S, Category 3 Year Two Project. Proposed model procedures relating to off-shore electronic trading and settlement post the one-year distribution compliance period for non-affiliate Regulation S, Category 3 Securities. View Project

Popular Articles