Acting Corp Fin Director Cicely LaMothe — who has been serving double duty since the beginning of the year and is returning to her role as Deputy Director, Disclosure Operations this month — participated in the “Dialogue with the Director” program at the ABA Business Law Section’s fall meeting last month. During her remarks, she noted that a wide variety of companies across different industries are adopting crypto asset treasury strategies. In her comments (subject to the standard disclaimer), she addressed disclosures that the Disclosure Review Program Staff expect to see DATCos (digital asset treasury companies) provide. Specifically, the Staff looks for disclosures to:

– Discuss the assets that will be part of the strategy

– Provide a complete description of the strategy

– Discuss how the strategy will be financed

– Discuss the company’s policies for acquiring, holding and selling the assets

– Discuss how the strategy will impact existing operations

– Disclose material custody arrangements

– Disclose risks associated with the adoption and implementation of the strategy

It sounds like more Staff comment letters on this topic — including on the resale registration statements filed following a PIPE — will be made public in the coming days and weeks.

– Meredith Ervine