First, for example, as detailed in the release, the final rule was revised from the proposal to allow for more flexibility to offer preferential treatment through side letters so long as they’re disclosed and in some cases the preferential treatment is offered to all investors. [read post]

For their work on these matters, I’d like to thank members of the SEC staff including: Haoxiang Zhu, Andrea Orr, David Saltiel, William Miller, Kyle Druding, Sharon Park, Roni Bergoffen, Eric Juzenas, Michael Coe, Michael Gaw, David Liu, Leah Mesfin, Michou Nguyen, Geoffrey Pemble, Justin Pica, Leah Drennan Will Magliocco, Carol McGee, John Guidroz, Israel Goodman, Matthew Lee, and Stephanie Park in the Division of Trading and Markets; Meridith Mitchell, Robert Teply, Leila Bham, Donna… [read post]

The Supreme Court articulated the meaning of materiality in cases in the 1970s and 1980s.[6] It is this standard of materiality that is reflected in Commission rules.[7] It is this same materiality standard that appears in numerous disclosure rules governing registration statements and public company annual reports.[8] It is this same materiality standard that is used throughout the final rules we’re considering today. [read post]

The Case Against The Death Penaltyby Hugo Adam Bedau --------------------------------------------------------------------------------ContentsPrefaceIntroductionDeterrenceUnfairnessInevitability of ErrorBarbarityRetributionFinancial CostsPublic OpinionAbolition TrendsFor Further Information & ReferenceNotes--------------------------------------------------------------------------------PrefaceHugo Adam Bedau is Fletcher Professor of Philosophy at Tufts University. [read post]