Subscribe to Our Monthly Newsletters

Stay updated on trending legal insights and get our attorneys' take on the latest industry news.

Marketing by

Paul Zimmerman
pzimmerman@mrllp.com
310.299.5500

Showing 20 posts in Corporate & Securities.

Corporate & Securities
Photo of M&R Blog

Changes to the UCC Addressing Digital Assets Up for Consideration

It is no secret that buying, using and trading cryptocurrency and non-fungible tokens has become more and more commonplace. Less clear is whether crypto, like Bitcoin or Ethereum, is to be treated as money. Even more of a mystery to regulators and market participants alike is how security interests in digital assets can be perfected—this so that other parties cannot improperly claim ownership. If adopted, a newly proposed Article 12 of the Uniform Commercial Code would address these issues by governing transfers (including sales and financings) of digital assets. (Read More)

Corporate & Securities
Photo of M&R Blog

How NFTs Are Rockin’ the Music Industry

Just over a year ago, Michael Winkelmann—better known as Beeple—shook the art world when an NFT of his work, a digital collage titled “Everydays: The First 5000 Days, sold for $69 million through an auction at Christie’s. Some would say this is the eye-popping sale that cemented the NFT craze that continues to make headlines.

Since then, NFTs have expanded well beyond fine arts. In fact, non-fungible tokens have exploded, creating new business models across industries. This includes the music space, which has joined the chorus of NFT innovation. (Read More)

Corporate & Securities
Photo of M&R Blog

Crypto Under a Microscope: President Biden Issues Executive Order Regarding Digital Assets

Cryptocurrency prices continue to hover in the stratosphere, yet volatility remains one of the hallmarks of these digital assets. It’s this instability, along with the consumer protection issues and national security and climate-related risks associated with Bitcoin, Ethereum and the like, that have driven President Joe Biden to action. (Read More)

Corporate & Securities
Photo of M&R Blog

Cybersecurity on Its Mind: SEC to Require Cyber-Related Reporting and Disclosures

Last week, the U.S. Securities and Exchange Commission announced a proposed rule that, if adopted, will compel public companies to disclose their governance, risk management and strategy with respect to cybersecurity risks. In addition, these entities would have to report any material cybersecurity incidents. (Read More)

Corporate & Securities
Photo of M&R Blog

Crypto Wars Continue: The SEC Takes a Stand on Asset Classification

Cryptocurrency is a volatile investment, to say the least. But despite their unpredictable nature, Bitcoin (BTC), Ethereum, Dogecoin and the like are now widely owned and traded not only by individuals, but by private and public companies as well, all of whom see the clear value in this nascent asset class. That being said, when it comes to classification for reporting purposes, holders of crypto take a vastly different approach from the government—namely, the U.S. Securities and Exchange Commission. (Read More)

Corporate & Securities
Photo of M&R Blog

Proxy Wars: Climate, Diversity Among Top Considerations for Institutional Investors

The securities professionals at Michelman & Robinson, LLP have identified certain policy items of importance to institutional shareholders going into 2022. These policies, flashing brightly on investor radar screens as they consider proxy statements soliciting votes, are set forth below.

In our estimation, public companies—those with significant blocks of institutional shareholders—that fail to pay heed to the guidelines discussed in this post may be unable to secure the proxy votes they need during proxy season and otherwise. As such, it is recommended that annual reports issued and the proxy statements filed by listed companies cover all of the following. (Read More)

Corporate & Securities
Photo of M&R Blog

SPACs: Their Current Status and the Future of Regulation

Just last month, the special-purpose acquisition company craze that hit its stride in 2020 began to show signs of slowing down. According to Dow Jones Market Data, as of early October, a market selloff erased approximately $75 billion in value of companies that went public using SPACs since mid-February.

But that correction may be just a hiccup, as these so-called “blank check companies” look to be storming back as 2021 marches to a close. In fact, the number of new deals now being rushed to market by year end is exploding—this despite the issuance of strict accounting guidance on SPAC warrants issued by the Securities and Exchange Commission last spring. (Read More)

Corporate & Securities
Photo of M&R Blog

iofoto © depositphotos.com

Starting a California Business with a Cause: Comparing the California Social Purpose Corporation with the Delaware Public Benefit Corporation

Hayley Hodson, a rising third-year student at UCLA School of Law and an M&R 2021 Summer Associate assisted in the writing of this article.

As home to the Silicon Valley, Hollywood, and a host of some of the world’s finest academic institutions, California is a haven for entrepreneurs, innovators, and investors alike. Many of these are socially conscious and mission-driven individuals and entities, operating at the intersection of purpose and profit. For them, laws on both coasts providing for unique corporate forms that allow directors to balance a company’s profit-maximizing goals with its society-benefitting ones should be of great interest. (Read More)

Corporate & Securities
Photo of M&R Blog

muha04 © depositphotos.com

Purpose Meets Profit: 5 Things to Know if Your Business Is Considering Becoming a Certified B Corporation

If you’ve spent any time in a shopping mall, you’ve surely passed by, or perhaps made purchases from, The Body Shop, which for decades has been selling ethically sourced beauty, skincare, bath and body products. The company has done so since 1976, all the while adhering to a rather admirable vision: that business can be a force for good. With that as its driving force, The Body Shop has launched a series of activism campaigns over the years and even became the first international cosmetics brand recognized under the Humane Cosmetics Standard. (Read More)

Corporate & Securities
Photo of M&R Blog

Funtap © depositphotos.com

Nasdaq’s New Board Diversity Rule

Late last week (August 6), the SEC approved Nasdaq’s Board Diversity Rule (the Rule), which aims to diversify the boards of directors for Nasdaq-listed companies. By way of the Rule, Nasdaq-listed companies will be required to have at least two diverse directors, one who self-identifies as female and one who self-identifies as an underrepresented minority (read: Black or African American; Hispanic or Latinx; Asian, Native American or Alaska Native, Native Hawaiian or Pacific Islander; or two or more races or ethnicities ) or LGTBQ+. (Read More)