SEC Reporting & Enforcement Update

February 10, 2010

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 enforcement action.
    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.

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