Kenneth Silverman and Kerrin Klein Publish Article in Securities Regulation Law Journal on SEC Rulemaking and Significant Litigation for Q2 2026

Olshan Corporate partner Kenneth Silverman and Litigation partner Kerrin Klein published an article in the Securities Regulation Law Journal, Fall 2026 ed. entitled “Quarterly Survey of SEC Rulemaking and Major Court Decisions.” The article reviews the SEC’s rulemaking activities and court decisions relating to federal securities laws from April 1, 2026 through June 30, 2026. “In the second quarter of 2026,” they write, “the SEC approved three new rules, proposed six new rules and published one concept release. Notably, the SEC’s proposals include a proposal rule that, if approved, would allow U.S. public companies the option to file with the SEC semiannual reports, instead of quarterly reports. This proposed rule follows the SEC’s announcement in mid-2025 that it is taking a serious look at reducing the frequency of corporate earnings reports…. The volume and focus of the final rules and proposals released this quarter accentuate the SEC’s current mission to create a less burdensome regulatory landscape for reporting companies.” Ken and Kerrin also summarize two U.S. Supreme Court decisions: Sripetch v. Securities and Exchange Commission and FS Credit Opportunities Corp. v. Saba Capital Master Fund, Ltd. In the first, the Supreme Court unanimously held that the SEC may seek disgorgement of profits from securities fraud even when investors did not suffer a financial loss. “Since disgorgement is a form of equitable relief,” Ken and Kerrin explain, “courts need not require victims to have suffered a financial loss to order disgorgement of funds.” In the second, the Supreme Court held that Section 47(b) of the Investment Company Act does not give private parties a right to sue to rescind contracts that allegedly violate the Act. “The decision marks a victory for investment companies, which are now further insulated from litigation commenced by private actors,” Ken and Kerrin write.