When Disclosure Pays: Evidence from the Over-The-Counter Markets Summary This post summarises a new paper by Robert Bartlett and Colleen Honigsberg that evaluates the 2020–21 amendments to SEC Rule 15c2-11 and their effects on over-the-counter (OTC) trading. The rule tied public quotations for OTC securities to current public disclosures for the first time, forcing non-disclosing […]
South Korea targets growth with Chinese tourism revival | AGB Summary South Korea will open visa-free group travel for Chinese visitors from 29 September, seeking to capitalise on strong consumer sentiment and revive inbound tourism. The change is expected to drive group arrivals to casinos, hotels and retail outlets across the country. Industry players are […]
Ethnic Representation in New Russell 3000 Director Appointments Has Fallen 22% Since 2022 Summary Data from Equilar on Russell 3000 companies shows a notable slowdown in ethnic diversity among newly appointed directors. The share of ethnically diverse individuals filling new board seats dropped from 23.3% in 2022 to 18.2% in 2024 — a fall of […]
MGM China Calls Ms. Pansy Video “Entirely Fraudulent” Summary MGM China has confirmed that a circulating video using the likeness of chairperson Ms. Pansy Ho is a deepfake created with artificial intelligence and is part of a fraudulent scheme. The clip supposedly promoted a fictitious investment plan promising unrealistic, hundredfold returns. MGM China says neither […]
Top military commanders abruptly summoned by defense secretary to Virginia next week Summary Defense Secretary Pete Hegseth has unexpectedly ordered a meeting of the U.S. military’s senior officers — one-star rank and above — at the Marine Corps base in Quantico next week. The directive, which covers hundreds of generals and admirals and their top […]
Teen suspected in massive cyberattack on Las Vegas casinos. Here’s what it cost Summary A 17-year-old is accused of participating in 2023 cyberattacks that hit two major Las Vegas casino operators. Authorities say Caesars Entertainment paid $15 million to settle a ransomware demand, while MGM Resorts suffered about $200 million in damages. Sensitive data — […]
Germany’s Fight over Player Refund Claims Reaches the EU’s Highest Court Summary The European Court of Justice (ECJ) in Luxembourg has begun oral hearings in a high-profile referral from Germany’s Federal Court of Justice (BGH) about whether German players can recover losses from unlicensed sports-betting operators. The case centres on a lawsuit against Tipico and […]
Risk Management and the Board of Directors Summary This memorandum — authored by Martin Lipton and colleagues at Wachtell, Lipton, Rosen & Katz — outlines why boards must treat risk oversight as a core governance responsibility, distinct from day-to-day risk management. It surveys the legal and regulatory landscape (Delaware fiduciary law, SEC and NYSE rules, […]
When Disclosure Pays: Evidence from the Over-The-Counter Markets Summary Robert Bartlett and Colleen Honigsberg (Stanford Law School) examine the effects of the SEC’s 2020 amendments to Rule 15c2-11, which for the first time required OTC issuers to provide current periodic disclosures as a condition for retaining publicly visible broker-dealer quotations. The rule created a binary […]
Sweden targets unlicensed operations with Gambling Act amendment Summary The Swedish Ministry of Finance has published Marcus Isgren’s report proposing major changes to the Gambling Act to close a loophole used by unlicensed operators. The core change is replacing the current “directional criterion” with a “participant criterion”: Swedish law would apply whenever Swedish residents can […]
