Welcome to Our Resource Library

With a slim majority in the Senate, Democrats have an opportunity to make President Joe Biden’s policy goals a reality, but they still need to garner at least some bipartisan support to get most bills through the Senate... With a slim majority in the Senate, Democrats have an opportunity to make President Joe Biden’s policy […]

Special purpose acquisition companies (SPACs) are one of the hottest ways to go public right now... Special purpose acquisition companies are one of the hottest ways to go public right now. To date, 300 SPACs have conducted IPOs raising nearly $100 billion in 2021, already surpassing last year’s totals.  Scarinci & Hollenbeck was ranked in […]

New Jersey developers can soon take advantage of the Residential Economic Redevelopment and Growth (ERG) Program... New Jersey developers can soon take advantage of the Residential Economic Redevelopment and Growth (ERG) Program. The program, which was relaunched under the Economic Recovery Act of 2020, will begin accepting applications on June 1, 2021. As discussed more […]

本文有中英文两种译本。欢迎点击链接查看 The SEC recently adopted interim final amendments to several forms to implement the disclosure and submission requirements of the Holding Foreign Companies Accountable Act April 5, 2021, the Securities and Exchange Commission (SEC) adopted interim final amendments to several forms to implement the disclosure and submission requirements of the Holding Foreign Companies Accountable Act […]

新规针对中国发行人指出投资风险 2021年4月5日，美国SEC采纳了多项相关表格的“临时最终修订案”来执行《外国公司问责法》的相关披露 与呈递的要求，此次新规被视为用于探讨解决相关中企的投资风险。按照《外国公司问责法》的要求，新规将于2021年5月5日起施行，此后企业须强制进行一部分信息披露，否则将面临在美被摘牌的风险。 过去几年，美国立法机构开始加大对相关中国发行人的监管，并提高了对美国投资人投资中企的风险提示。同其他非美国发行人一样具有额外风险之外，中方发行人被认为可能具有更高风险 —— 美国证监会在过去几年中，在实施其披露规定要求审查相关企业是否为政府控股企业时，包括是否为收到中共控制的企业时，遭遇了一定的挫折 关于投资中企的相关风险 根据SEC最新规定指出，在发行、交易或投资中企时将产生更多风险，因“公众公司会计监督委员会”(PCAOB)无法在过程中检查、调查或者审计相关报告。在2020年11月美国证监会一则报道中，美国证监会指出一些与中企有关的 潜在风险： 《外国公司问责法》披露要求 美证监会“临时最终修订案”要求被认定的发行人执行新规中的披露要求，否则将承当相应后果。《外国公司问责法》修改了2002年萨班斯·奥克斯利法案中要求美证监会指定的发行人如果聘用在美国以外有分所或分公司的注册会计师事务所，则该会计师事务所必须提供年度审计报告。目前PCAOB决议表示由于境外当局所采取的态度，其肯能无法完全调查或检查相关报告。 《外国公司问责法》第三章提出境外的被认定的发行人，依据美国证券交易法第3b-4条规定，将面临更严格的披露要求，包括政府实体在其所在国的主体企业中的持股比例；政府实体在其所在国的主体企业中是否具有控制性的经济利益；董事会成员中所有中共党员的成员名单；以及公司章程中是否包含中共党章相关规范。 如果成为美证监会认定的发行人，则在此期间应当每年提供相关内容给的披露。《外国公司问责法》第三章要求提交Form10-K （年报）和Form 20-F（海外发行人年报）及过渡报告等。 “临时最终修订案”将于2021年5月5日生效，将适用于已经被美证监会要求提交Form 10-K （年报），Form 20-F (海外发行人年报)，Form 40-F(非美国注册公司的 年报)，Form N-CSR (股东信息报告)并被要求提供由具有资质的经由注册的会计师事务所出具的审计报告的，且由PCAOB认定其由于境外当局所持立场导致无法完全检查或调查财报信息的相关公司。美证监会将采取一系列措施来认定相关上市公司。与《外国公司问责法》相关，修正案也将要求这些被认定的上市公司向美证监会提供(1)证据证明该上市公 司不是由境外政府实体实际控制的公司；（2）要求披露境外发行人年报中审计安排及其是否收到政府的干预。 主要观点 《外国公司问责法》针对一些由于信息透明度、财务披露等问题导致的有关中国相关发行人而产生的风险，为投资人提出了提醒。广义上来说，投资人应了解在任何公司中进行投资时，如果无法从其现有年报中获得相关信息的披露或年报若未经有有声誉的会计师事务所背书，则有可能面临的风险。信息透明度在尽职调查中具有重要意义，而投资人则必须了解对于没有提供充足披露信息的公司的投资，尤其是对于其财务情况和控制因素没有适当披露的公司的风险。 如您对以上文章内容有任何疑问，欢迎联系Scarinci Hollenbeck律师事务所Paul A. Liberman律师进行咨询。电话:+1 (201)896-4100.

The outcome of coverage disputes involving directors and officers (D&O) insurance can be greatly influenced by the state law applied in the case. The outcome of coverage disputes involving directors and officers (D&O) insurance can be greatly influenced by the state law applied in the case. Therefore, it is important to understand any choice of law provisions […]

Seasoned IT Professional Dan Scarpulla Joins Scarinci Hollenbeck as Director of Information Technology April 9, 2021 – Lyndhurst, NJ – As Scarinci Hollenbeck continues its expansion, the firm has been focusing on refining its business practices to maintain its long tradition of offering quality legal service. In order to effectively support this expansion, the firm […]

The Joint Cybersecurity Advisory warns that cyberattacks against K-12 educational institutions are on the rise… Cybercriminals are likely targeting schools, according to an Alert issued jointly by the Federal Bureau of Investigation (FBI), the Cybersecurity and Infrastructure Security Agency (CISA), and the Multi-State Information Sharing and Analysis Center (MS-ISAC). The Joint Cybersecurity Advisory warns that […]

The Securities and Exchange Commission (SEC) recently unveiled its much-anticipated examination priorities for 2021. While many focus areas remain unchanged from prior years, the SEC identifies several new ”foci”, including climate-related risk and environmental, social, and corporate governance (ESG) issues. “This year, the Division is enhancing its focus on climate and ESG-related risks by examining […]

Investors should be wary when using information from social media to inform their investment decisions. Amid the COVID-19 pandemic, social media is an increasingly common means of communication. While sites like Twitter and Facebook can help us stay connected to friends and keep up with current events, social media platforms can also be used to […]

Post Consumer Brands recently agreed to pay $15 million to resolve allegations it misled consumers… Post Consumer Brands recently agreed to pay $15 million to resolve allegations it misled consumers by using health and nutrition claims to advertise several of its high-sugar cereals. Post is the latest cereal maker to face a costly class-action lawsuit […]

Chair of the New Jersey State Bar Bankruptcy Law Section Joins Scarinci Hollenbeck’s Lyndhurst Office as Partner April 6, 2021 – Lyndhurst, NJ – David Edelberg, a bankruptcy law attorney with decades of experience handling various bankruptcy matters has joined Scarinci Hollenbeck’s Lyndhurst, NJ office as Partner, according to the firm’s Managing Partner Donald Scarinci. […]