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Stories of Interest
- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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NEWSLETTERS & ALERTS
Rules & Regulations
SEC Commissioner Piwowar Supports Mandatory Arbitration Clauses
SEC Republican Commissioner Michael Pinowar expressed support for possibly allowing companies to tuck language into their IPO paperwork that would force shareholders to resolve claims through arbitration rather than in court, Reuters reports.
"For shareholder lawsuits, companies can come to us to ask for relief to put in mandatory arbitration into their charters. I would encourage companies to come and talk to us about that."
Pinowar made the remarks at the conservative-leaning Heritage Foundation just a few days after SEC Chair Jay Clayton signaled plans to scale back regulatory burdens that may be discouraging or delaying companies from going public. As part of that plan, Clayton invited companies to petition the SEC for exemptions from certain disclosure requirements.
While Clayton didn't specifically mention requests to include mandatory arbitration provisions in public offering documents, Piwowar said he thinks the issue falls more broadly into efforts by the SEC and its new Corporation Finance Division Director to be more collaborate in how it works with companies during the IPO review process.