The following is part of our annual publication Selected Issues for Boards of Directors in 2026. Explore all topics or download the PDF.


Drawing on activity across the United States, Europe, East Asia, the Middle East and Latin America, we examine the market dynamics and complimentary regulatory and macro-economic settings that drove IPO volume and valuations to surge in 2025 and offer insights for the year ahead.  Continue Reading Global IPO Market Trends: 2025 Review and 2026 Outlook

On December 18, 2025, the President of the United States signed into law the Holding Foreign Insiders Accountable Act (“HFIAA”), making officers and directors of foreign private issuers (“FPIs”) subject to public reporting of holdings of, and transactions in, the issuers’ equity securities under Section 16(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The new law will become effective on March 18, 2026.Continue Reading Section 16(a) Insider Reporting: Legislation Ends Foreign Private Issuer Exemption

Form 20-F is the form used for an annual report of a foreign private issuer (“FPI”) filed with the U.S. Securities and Exchange Commission (the “SEC” or the “Commission”). This alert memorandum summarizes considerations that will affect the preparation of the annual report on Form 20-F for the year ending on December 31, 2025 (the “2025 20‑F”) and certain other developments pertinent to FPIs.Continue Reading Preparing an Annual Report on Form 20-F – Guide for 2026