Insights

On January 10, 2020, the U.S. Department of Justice and the Federal Trade Commission released draft Vertical Merger Guidelines for public comment. The new guidelines, which will replace the outdated 1984 Non-Horizontal Merger Guidelines, are intended to assist the business...

As reporting companies advance in preparations of their 2019 annual report and 2020 proxy statement, this update includes a recap of some of the more significant disclosure rules adopted and other announcements published by the Securities and Exchange Commission during...

On September 17, 2019, the Securities and Exchange Commission (the “SEC”) proposed rules that would update the statistical disclosures provided by banking registrants in response to Industry Guide 3, Statistical Disclosure by Bank Holding Companies (“Guide 3”). The proposal results...

In March 2019, the Securities and Exchange Commission adopted final rules amending Regulation S-K and related rules and forms to modernize and simplify disclosure requirements for registrants. These amendments follow from the Fixing America’s Surface Transportation (FAST) Act, enacted in...

Contributing Author Dr. Raed Safadi, Chief Economic Advisor, Dubai Investment Development Agency On 23 September 2018, one of the most anticipated legal developments in the UAE was brought to life. The UAE issued Federal Decree-Law No. 19/2018 on Foreign Direct...

On 30 April 2019, the UAE Cabinet issued the Cabinet of Ministers Resolution No. 31 of 2019 concerning Economic Substance Regulations in the UAE (“Regulations”). Why has the UAE issued the Regulations? The implementation of the Regulations is a result...

Canada’s Competition Bureau (CCB) recently filed a challenge with the Canadian Competition Tribunal to unwind a U.S. private equity firm’s May 2019 acquisition of a company that offers reserves valuation and reporting software to Canadian oil and gas producers. Following...

The United Arab Emirates ("UAE") has recently released a draft of its highly anticipated product safety law (the "Law"), set to come into force in July 2019. This is the first time the UAE has enacted bespoke legislation specifically addressing...

The Securities and Exchange Commission has adopted final rules amending Regulation S-K and certain other rules and forms to modernize and simplify disclosure requirements. Among other matters, the amendments reduce and clarify the disclosures required in management’s discussion and analysis...

On February 26, 2019, the U.S. Court of Appeals for the D.C. Circuit unanimously affirmed a district court decision rejecting the U.S. Department of Justice’s challenge to AT&T’s $85 billion merger with Time Warner, cementing one of the biggest merger...

The past couple of years have seen an increase in large “vertical” mergers, combinations of businesses operating within the same industry but at different levels of the supply chain. Some of the most high profile include AT&T/Time Warner, Cigna/Express Scripts...

In a cease-and-desist order dated December 26, 2018, the Securities and Exchange Commission enforced rules regarding the disclosure of non-GAAP financial measures, resulting in a $100,000 penalty to the violating issuer. With earnings season approaching, this enforcement action provides a...

The Securities and Exchange Commission recently approved final rules to require disclosure of hedging practices, implementing a Dodd-Frank Act mandate. New Item 407(i) of Regulation S-K requires a company to describe in its proxy statement any employee or director hedging...

His Highness Sheikh Mohammed bin Rashid Al Maktoum, in his capacity as president of the DIFC, vice president and prime minister of the United Arab Emirates (“UAE”) and Ruler of Dubai, has recently enacted a new set of laws and...

His Highness, Sheikh Khalifa bin Zayed Al Nahyan, the President of the UAE recently issued Federal Decree-Law No. 19 of 2018 on Foreign Direct Investment (“FDI Law”), giving life to one of the most recently anticipated legal developments in the...