On Feb. 10, McGuireWoods' SEC practice held an informative meeting regarding
updates on case law, proposals and other changes in the securities regulatory
environment. Topics included:
A report on the SEC's
recent guidance on the use of Non-GAAP financial
measures (Regulation G) and a brief discussion
regarding the SEC’s first-ever Regulation G
Karl M. Strait, Richmond
- A discussion of the
existing law and practice with regard to market rumors
and an illustrative case (SEC v. Berliner) that the
SEC cites frequently in market rumor actions.
Samantha E. Thompson, Washington, D.C.
- A brief update on
the ability of an issuer to use lock-up agreements
in connection with a registered debt exchange offer.
Jason H. Scott, Charlotte
- A discussion of
legal and procedural matters to consider in an IPO
on the London AIM Market.
Mark Langford, London
David H. Pankey, SEC
Practice Chair, moderated the meeting.