Tag: Biden

Biden vetoes bill to block Labor Dept. rule on ESG investing

President Biden on Monday vetoed his first bill — blocking a Republican-led effort to restrict pension funds from making investment decisions based on factors such as climate change. “I just signed this veto because the legislation passed by the Congress would put at risk the retirement savings of individuals across the country,” Biden said in a tweeted video. The bill passed Congress…

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White collar lawyers predict boom times under Biden | Financial Times

So for many white collar criminal defence lawyers, Trump’s defeat at the hands of Democrat Joseph Biden has been cause for celebration. “The Trump administration’s approach to dealing with white collar crime can be encapsulated in the dozens of pardons that president Trump granted to white-collar criminals stretching back decades,” said Daniel Horwitz, a former prosecutor who is now a…

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What to Expect from a Gensler SEC? | News | Sidley Austin LLP

Earlier this year, President Biden announced Gary Gensler as his choice to lead the U.S. Securities and Exchange Commission (SEC). Gensler’s tenure as chairman of the Commodity Futures Trading Commission provides a glimpse into his possible agenda at the SEC. A focus on public company issues, ESG, disclosures, enforcement, digital assets guidance, and attention to novel technologies like artificial intelligence…

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Biden’s Candidate for SEC Chairman Is Expected to Be Tough on Companies – WSJ

“Everyone should expect that a Gensler SEC will be under pressure from Capitol Hill to distinguish itself from a Clayton SEC by being perceived as tougher and smarter,” said Joseph Grundfest, a professor of law and business at Stanford University and a former SEC commissioner. Mr. Gensler, who is teaching courses on financial technologies at the Massachusetts Institute of Technology,…

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Alert: New SEC Leadership to Focus on Enforcement | Cooley LLP – JDSupra

We expect that under the new administration, the SEC will use its expanded authority and resources to more aggressively pursue securities violations at public companies. In the near term, we expect particular scrutiny of high-visibility tech companies, life sciences companies under the microscope in the age of COVID-19 and post-IPO companies experiencing rapid growth. Source: Alert: New SEC Leadership to…

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Remember Enron? It Could Happen Again on Biden’s Watch

There are several relatively straightforward steps the Biden administration could take. They involve the Securities and Exchange Commission (SEC) and the Public Company Accounting Oversight Board (PCAOB). Some would require legislation, and some assume the new administration can muster a working majority at the SEC. But to really make a difference, the Biden administration will have to do more than…

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Financial Services Regulation in a Biden Administration: Personnel Is Policy

Although the Commission will continue to devote resources to punishing individuals and entities that seek to capitalize on market disruptions caused by the pandemic even after Clayton departs, under a potential Democrat-led Commission, the Enforcement Division is likely to shift its focus to traditional Wall Street misconduct including insider trading, issuer reporting and accounting fraud, and Foreign Corrupt Practices Act…

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Biden SEC Likely to Push More Climate, Diversity Disclosures

“Depending on who is the next chair, the shift might be either reversion to the mean or whiplash inducing,” said Urska Velikonja, a Georgetown University Law Center professor who studies the SEC. Potential contenders for the job include former SEC Commissioners Kara Stein and Robert Jackson, as well as Georgetown University Law Center Professor Chris Brummer, according to Bloomberg News.…

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What to Expect From the Biden Administration

Over the weekend, former Vice President Joseph R. Biden, Jr. was declared the winner of the U.S. presidential election. Although President Trump has yet to concede and press reports suggest he will continue to make his case in court, thoughts have turned to what the Biden administration will mean for federal regulation of business and finance. In many ways, the…

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