• Skip to main content
  • Skip to primary sidebar

Securities Regulation and Corporate Governance Monitor

  • Home
  • About
  • Editors
  • Topics
  • Subscribe
  • Home
  • About
  • Editors
  • Topics
  • Subscribe
J. Alan Bannister

J. Alan Bannister

Partner, New York

[email protected]

+1 212.351.2310

Alan Bannister is a partner in the New York office of Gibson, Dunn & Crutcher and a member of the firm’s Capital Markets, Finance and Securities Regulation, Corporate Governance and Business Restructuring and Reorganization Practice Groups.

View Full Profile

SEC Proposes Rule Changes to Shorten the Security Settlement Cycle to T+1 by March 31, 2024

February 14, 2022 | Posted by J. Alan Bannister; Boris Dolgonos; Andrew L. Fabens; Hillary H. Holmes; Peter Wardle Topic(s): Capital Markets; Miscellaneous; Securities Regulation

​On February 9, 2022, the Securities and Exchange Commission (the “Commission”) announced a proposed rule to shorten the standard settlement cycle for most broker-dealer transactions from two business days after the trade date (“T+2″) to one business day after the trade date (“T+1″), while soliciting comments regarding challenges and possible approaches to achieving settlement by the end of trade date (“T+0″).

Read More

An Interim Update on Direct Listing Rules

December 11, 2019 | Posted by J. Alan Bannister; Hillary H. Holmes Topic(s): Corporate Governance; Miscellaneous; Securities Regulation

​On December 3, 2019, Gibson Dunn published A Current Guide to Direct Listings discussing, among other things, a proposal submitted to the U.S. Securities and Exchange Commission (SEC) on November 26, 2019 by the New York Stock Exchange (NYSE) that would permit a privately held company to conduct a direct listing in connection with a primary offering, potentially creating a new on-ramp to the public capital markets in the United States. 

Read More

A Current Guide to Direct Listings

December 4, 2019 | Posted by J. Alan Bannister; Hillary H. Holmes Topic(s): Corporate Governance; Miscellaneous; Securities Regulation

 

Direct listings have increasingly been gaining attention as a means for a private company to go public. In our most recent memo available here, we provide a summary of the current requirements for direct listings on the NYSE and Nasdaq and of NYSE’s recent proposal to amend its direct listing rules to allow primary offerings through the NYSE in conjunction with direct listings. We also explore the potential benefits and risks associated with direct listings.

Read More

EDNY Rejects Motion to Dismiss in First ICO Criminal Securities Fraud Trial

September 12, 2018 | Posted by J. Alan Bannister Topic(s): Miscellaneous

​On September 11, 2018, Judge Raymond Dearie of the Eastern District of New York rejected a motion to dismiss in U.S. v. Zaslavskiy, the first criminal securities fraud prosecution relating to an initial coin offering. The motion to dismiss challenged the prosecution’s characterization of two virtual currencies promoted by Maxim Zaslavskiy as “securities” under the federal securities law.

Read More

SEC Proposes to Substantially Lighten Financial Disclosures for Issuers and Guarantors of Registered Debt

August 6, 2018 | Posted by J. Alan Bannister; Andrew L. Fabens; Hillary H. Holmes; Peter Wardle Topic(s): Securities Regulation

On July 24, 2018, the Securities and Exchange Commission (the “Commission") proposed amendments to Rules 3-10 and 3-16 of Regulation S-X (available here) in an effort to “simplify and streamline" the financial disclosures required in offerings of certain guaranteed debt and debt-like securities (collectively referred to as “debt securities"), as well as offerings of securities collateralized by securities of an affiliate of the registrant, registered under the Securities Act of 1933, as amended (the “Securities Act"). These proposed changes would, if implemented, facilitate greater speed to market for such public offerings, significantly reducing the Securities Act disclosure burdens for such registrants, as well as reducing the registrant’s disclosure obligations in its subsequent annual and interim reports required under Securities Exchange Act of 1934, as amended (the “Exchange Act"). Taken together, the proposed changes represent a significant liberalization of the current disclosure requirements. 

Read More

Delaware Approves Use of Blockchain in New DGCL Amendments

July 31, 2017 | Posted by James J. Moloney; J. Alan Bannister Topic(s): Securities Regulation

On July 21, 2017, Delaware Governor John C. Carney Jr. signed into law, effective August 1, 2017, Senate Bill 69 (“SB 69”), amending Delaware’s General Corporation Law (“DGCL”) to, among other things, allow corporations to utilize electronic databases and blockchain technology to maintain and distribute certain corporate records. The passage of SB 69 further solidifies Delaware’s position as the leader in corporate regulatory innovation by demonstrating the state’s readiness to embrace new and innovative technologies being utilized by the corporate market.

Read More

SEC Warns that Securities Laws May Apply to Initial Coin Offerings and Other Digital Currency Sales

July 26, 2017 | Posted by Andrew L. Fabens; James J. Moloney; Elizabeth A. Ising; J. Alan Bannister Topic(s): Securities Regulation

On Tuesday, July 25, 2017, the Securities and Exchange Commission (“SEC”) issued a Report of Investigation (the “Report”) finding for the first time that an offer and sale of virtual currency, often called an Initial Coin Offering (abbreviated “ICO”) or “Token Sale”, can be subject to U.S. federal securities laws. While the SEC decided not to pursue an enforcement action in this particular instance, the SEC did find that that the ICO that was the subject of the Report involved an offering of securities subject to U.S. federal securities laws.

Read More

Primary Sidebar

Topics

Audit Committee

Capital Markets

Compensation Committee

Corporate Governance

Disclosure

Dodd Frank

Environmental/Climate Change

ESG

EU Regulation

Executive Compensation

FCPA

Financial Statements

Human Capital Management

India Regulation

Investment Act/Investment Advisors Act

IPOs

JOBS Act

M&A

Miscellaneous

Private Placements

Proxy Access

Proxy Statements and Annual Meetings

Registered Securities Offerings

Registration Statements

Say on Pay

Securities Regulation

Shareholder Proposals

UK Regulation

Underwriters and Agents

Whistleblower Rules

Editors

Lauren M. Assaf-Holmes

J. Alan Bannister

Aaron K. Briggs

Michael Collins

Boris Dolgonos

Mellissa Campbell Duru

Andrew L. Fabens

Sean Feller

Tull Florey

Gina Hancock

Krista P. Hanvey

Lauren Hebson

Hillary H. Holmes

Elizabeth A. Ising

Thomas J. Kim

David Korvin

Stella Kwak

Brian J. Lane

Ari Lanin

Julia Lapitskaya

Robert B. Little

Cynthia M. Mabry

Stewart McDowell

Gregory Merz

James J. Moloney

Ronald O. Mueller

Michael K. Murphy

Ekaterina (Kate) Napalkova

Justine Robinson

Michael Scanlon

Eric Scarazzo

Elvia Soto

Gerry Spedale

Jack Strachan

Michael A. Titera

Tracey Tomlinson

Harrison Tucker

Peter Wardle

David C. Ware

Robyn Zolman

Lori Zyskowski

Useful Links

  • Gibson Dunn Website
  • Society of Corporate Secretaries & Governance Professionals
  • Institutional Shareholder Services
  • New York Stock Exchange
  • NASDAQ
  • SEC
  • Conference Board’s Center for Corporate Governance
  • Glass Lewis & Co., Inc.
  • The Corporate Counsel
  • CompensationStandards.com
  • Romeo & Dye’s Section 16.net
  • Harvard Law School Forum on Corporate Governance and Securities Regulation
  • National Association of Corporate Directors
  • Columbia Law Blue Sky
  • COVID-19 Resources for Public Companies
  • ESG Resources for Public Companies

Archives

Subscribe to Updates
RSS Feed
  • Privacy Statement
  • Cookie Notice
  • Contact Us
© 2025 Gibson, Dunn & Crutcher LLP. All rights reserved.