2019-2020 Senior Editor, Contributor 2018-19
Andrew is currently a 2L at the University of Denver Sturm College of Law. A native through-and-through, he was born and raised in Colorado, where he graduated from the University of Denver with a BA in Media Studies in Journalism and a minor in Psychology.
In addition to being a Contributor for The Race to the Bottom, Andrew also writes for the Sports and Entertainment Law Journal as he plans on pursuing an Intellectual Property law certificate, though he is interested in corporate and transactional law as well.
Outside of school, Andrew is a huge fan of the Colorado Avalanche and is proud to have cheered for DU’s own Pioneers when they won the 2017 NCAA Championship. In addition to being a fan, he also plays hockey himself, and when he’s not at the rink, you can find him playing his guitar or working on his car.
Connect with Andrew on LinkedIn.
Following Democratic control of the House, a new resolution was passed in January as a means to limit lawmakers’ control over public companies. Specifically, the resolution amended the Rules of the House of Representatives to ban House lawmakers’ membership on public company boards, with exceptions for nonprofits and board positions that do not provide compensation. (H. Res. 1043). Other rules passed at the same time direct the House Committee of Ethics to address conflict of interest concerns arising from lawmakers’ participation in other company roles. (Andrea Vittorio, Bloomberg Law). Although a similar ban and exceptions have existed for members of the Senate, until now there were no equivalent rules for the House.
On October 31, 2018 the SEC adopted new mining disclosure requirements that were originally proposed under the Obama Administration. (Andrew Ramonas, Bloomberg Law). According to an agency press release, the amendments, which modify both the Securities Act of 1933 (Securities Act) and the Securities Exchange Act of 1934 (Exchange Act), will “provide investors with a more comprehensive understanding of a registrant’s mining properties, which should help them make more informed investment decisions.” (SEC, Press Release). The new rules eliminate and update Industry Guide 7, the current set of rules that have been called “woefully out of date.” (Anderson, Brenkert, and Doerksen, Dorsey & Whitney LLP).
Following the appointment of Chairman Joseph Simons to the Federal Trade Commission (FTC), large tech companies including Google, Facebook, and Amazon should expect tougher enforcement against anti-competitive behavior. In recent years, the FTC has become increasingly concerned that these large tech companies may be violating antitrust law and limiting competition in the market by acquiring small startups or otherwise vertically integrating.
Simons’ appointment comes at a time when mega-mergers among technology companies are commonplace.
Earlier this year, the Securities and Exchange Commission (SEC) amended Rule 15c2–12 (17 C.F.R. § 240.15c2–12). Rule 15c2-12 ensures that underwriters secure an agreement with states, cities, and other governmental entities issuing municipal securities that those entities will disclose information about the issued securities to the Municipal Securities Rulemaking Board (MSRB) on an ongoing basis. This information is intended to inform interested parties on the financial standing or other condition of the state government that may have an effect on the bonds.
By late 2017, the value of Bitcoin (BTC) had risen to an unprecedented $19,843 per coin after trading below $1,000 just a year earlier. Though it has fallen well below those highs, Bitcoin’s value — and the value of other cryptocurrencies like Ethereum — has continued to remain much higher than anyone expected.
Where does this value come from? Among the many potential factors is supply and demand. Bitcoin, for example, is limited to a total of 21 million coins. By now, more than eighty percent of those have already been mined (Molly Jane Zuckerman, CoinTelegraph).
In Webb v. SolarCity Corp., No. 5:14–CV–01435–BLF, 2018 BL 79348 (9th Cir. Mar. 08, 2018), the Ninth Circuit Court of Appeals affirmed the district court’s dismissal of a securities fraud action brought in a third amended complaint (“TAC”) by James Webb (“Plaintiff”), a member of a class of plaintiffs who purchased shares in SolarCity, against SolarCity Corporation and two of its cofounders, Lyndon Rive and Robert Kelly (collectively “Defendants”). The court held Plaintiff failed to adequately plead the scienter element necessary to state a claim under § 10(b) of the Securities Exchange Act of 1943 (“Act”).