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Everyone realizes that a Trump victory will likely trigger major reversals in securities regulation and SEC policies. In particular, the SEC's much discussed and much litigated climate disclosure rules (currently stayed before the U.S. Court of Appeals for the Eighth Circuit) may be abandoned by a Trump SEC. Alternatively, enforcement actions may just not be brought.
Does this mean that the strategy of using disclosure regulation to prod managements to more seriously examine and curtail greenhouse gas (GHG) emissions will come to a quiet sad end? Not necessarily! Rather, the torch could be passed to a new champion. Who would that be? As discussed below, the most plausible candidate is the state of California (which almost certainly will not vote Republican in this year's election). Why is California likely to lead the way and be the principal target of business community opposition in the near future? The answer lies in three statutes that the state of California passed in late 2023, all of which substantially exceed the scope of the SEC's final climate disclosure rules.
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The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
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