Posts tagged Sydney Boyle
Regulatory Landscape of Cryptocurrency

With the popularity and growth of cryptocurrencies many companies are using initial coin offerings (“ICOs”) to raise capital. ICOs allow investors to exchange typical currency for a coin or token. The ICO market continues to grow—in 2017 an estimated $4 billion was raised through ICOs. (Jay Clayton, U.S. Securities and Exchange Commission). So far, 2018 has seen $2 billion raised through ICOs. (David Sacks and Josh Stein, Harbor). Funding a venture through a cryptocurrency gives companies and individuals the ability to make transfers regardless of geographic location, and it has lower transaction costs than traditional financing methods. Using cryptocurrencies, however, also has drawbacks—mainly anonymity of purchasers and sellers coupled with a lack of government regulation.

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No-Action Letter for Pfizer Inc. Permitted Exclusion of Shareholder Proposal Seeking Report on the Risks from Raising Drug Prices

In Pfizer Inc. 2018 BL 030118 (March 1, 2018), Pfizer Inc. ("Pfizer") asked the staff of the Securities and Exchange Commission (“SEC”) to permit the omission of a shareholder proposal submitted by Trinity Health (“Proponents”) requesting Pfizer disclose the risks from rising pressure to contain U.S. prescription drug prices and explain how Pfizer plans to mitigate those risks. The SEC issued the requested no action letter allowing for the exclusion of the proposal under Rule 14a-8(i)(10).

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