New Rules Have SPACs Down, But Not Dead
Intelligize Blog
by Adria Hunter
20h ago
Soon after the Securities and Exchange Commission announced the final version of new rules to protect investors in special purpose acquisition companies, industry analysts and news outlets all but declared the so-called “blank-check” companies dead. “The stock market killed it first, but now the SEC has picked up a shovel and buried SPACs for good,” pronounced the Michigan Journal of Economics. Bloomberg Law offered a retrospective detailing the “boom, gloom, and doom” of SPACs. Axios explored the factors that “took down the SPAC boom.” But are they gone for good, or can SPACs be salvaged? The ..read more
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SEC Chimes in on Early Cybersecurity Disclosures
Intelligize Blog
by Adria Hunter
3d ago
Earlier this year, we offered readers three lessons from the initial wave of disclosures made under new cybersecurity rules issued by the Securities and Exchange Commission in 2023. For example, we saw companies attempting to frame what could be interpreted as damaging revelations about online hacks of their networks into commentaries on their robust cyber defense systems. One of our observations was that companies were struggling to come to a consensus on what constitutes material information for investors when it comes to cybersecurity events. Apparently, that uncertainty is causing headache ..read more
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Complex Issues Affecting U.S.-China Relations Pose Risks for Corporations
Intelligize Blog
by Scott Mirbagheri
1w ago
From imported cotton to TikTok, a host of contentious issues continue to complicate relations between the United States and China. The disputes also present thorny risks for corporations seeking to expand their operations or simply avoid costly enforcement actions. Here are a few of the more notable topics worth monitoring for potential effects on big business. Forced Labor, Thwarted IPOs, and U.S. Bans  Founded in China in 2012 but now headquartered in Singapore, online retailer and fast-fashion behemoth Shein confidentially filed to go public in the U.S. in November 2023. Hopes for a ma ..read more
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Does ‘Corporate Bullying’ Work?
Intelligize Blog
by Scott Mirbagheri
2w ago
Nobody likes a bully, or so the saying goes. That may be true, but it has never stopped bullies from popping up in places ranging from playgrounds to office cubicles to the highest reaches of government. The modus operandi doesn’t change, regardless of the setting: Use force and intimidation to try to get what you want, even after being told you can’t have it. Corporations can be bullies, too, leveraging their resources and influence to get the outcomes they desire. ExxonMobil is a prime example of a company currently throwing its weight around to circumvent standard corporate and legal proces ..read more
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DOJ to Boeing: Our Deal is Off
Intelligize Blog
by Scott Mirbagheri
2w ago
It seems all news is bad news lately for Boeing Co. A harrowing incident earlier this year in which the door on one of its planes blew off mid-flight has sparked intense scrutiny into safety and maintenance practices at the world’s largest aerospace company. Since then, the sudden deaths of two whistleblowers against the company have provided grist for online rumor mills and conspiracy theories. And now this: The Department of Justice maintains Boeing didn’t live up to its end of a deal reached in 2021 to avoid criminal charges related two plane crashes. That makes the aeronautics manufacturer ..read more
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Three Reasons Why the SEC May Temper Its Rulemaking Before the Election
Intelligize Blog
by Adria Hunter
1M ago
In an election year, federal agencies often spend the final months of a President’s term rushing to push through pet projects and key objectives. The Securities and Exchange Commission is no exception. If you look back to 2020, for instance, the SEC under the leadership of Trump administration appointee Jay Clayton established a new rule aimed at curbing the influence of proxy advisory services. Current SEC chair, Gary Gensler, claims he doesn’t have designs on the agency doing any last-minute rulemaking. We will make a bold prediction that the SEC stays true to Gensler’s word. Here are three ..read more
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Doubts Surface About SEC’s Candidness on Ethereum
Intelligize Blog
by Adria Hunter
1M ago
Back in April 2023, Securities and Exchange Commission chair Gary Gensler raised a ruckus by refusing at a congressional hearing to offer an opinion on whether Ethereum, a popular cryptocurrency, is a security. But was Gensler playing coy? The SEC’s view on this matters a great deal to crypto investors, and new reporting indicates Gensler has been hiding the agency’s true feelings on the question from the public for a while. First, the distinction between commodities and securities may seem esoteric to casual observers, but it carries major significance in the financial world. Specifically, if ..read more
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Interest Rates Continue to Influence Corporate Financing
Intelligize Blog
by Adria Hunter
1M ago
After setting interest rates at a two-decade high last July, the Federal Reserve has held them steady for the last 10 months at 5.3%. And now everyone waiting on the central bank to cut rates should probably settle in for an even longer haul. As Jerome H. Powell, the chair of the Fed, pointed out earlier this month, inflation isn’t showing signs of abating any time soon. For corporations looking to do some wheeling and dealing this year, monetary policy is forcing them to get creative. With cheap debt nowhere to be found, corporate mergers and acquisitions are requiring combinations of cash an ..read more
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Climate Disclosure Brings Water Scarcity into Focus
Intelligize Blog
by Adria Hunter
1M ago
When we talk about environmental risks, carbon emissions usually come to mind first. New regulations from the Securities and Exchange Commission, however, should raise the visibility of water for companies too, after working water-related financial risks into the first-ever disclosure rules for climate risk. The climate disclosure rules call for issuers to report water-related risks posed by short-term events such as hurricanes and long-run concerns like shifting weather patterns. The move is “is part of the strong global momentum – both regulatory and voluntary – behind increased transparency ..read more
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Battle Lines Are Drawn on Noncompete Ban
Intelligize Blog
by Adria Hunter
1M ago
As expected, big business is lining up to take on the Federal Trade Commission’s new ban on noncompete agreements. In a move cheered by labor interests across the United States, the FTC approved a measure last month prohibiting employers from using contracts to prevent their workers from moving to rival companies. It took roughly 24 hours for the U.S. Chamber of Commerce to hit back with a lawsuit in federal court to strike down the regulation. Labor activists view noncompete agreements as tools to reduce competition for the services of workers, which in turn depress their wages and benefits ..read more
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