On August 23, 2023, the U.S. Securities and Exchange Commission (“SEC”), by a party-line vote of 3-2, adopted new rules applicable to investment advisers to private funds (“Private Fund Advisers”) that address transparency,...more
9/6/2023
/ Audits ,
Books & Records ,
Broker-Dealer ,
Clawbacks ,
Compliance ,
Conflicts of Interest ,
Documentation ,
Enforcement Actions ,
Fees ,
Fiduciary Duty ,
Hedge Funds ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Private Equity Funds ,
Securities and Exchange Commission (SEC) ,
Transparency ,
Waivers
As potential investors contemplate getting into the blockchain and cryptocurrency market, Jackson Walker Corporate & Securities partner Michael Laussade discussed some of the practical and legal implications surrounding these...more
While the SEC has worked over the last several months to provide meaningful guidance around the offer and sale of digital tokens, state securities regulators have now begun to take action, with Texas leading the way. In the...more
1/19/2018
/ Bitcoin ,
Broker-Dealer ,
Cryptocurrency ,
Digital Currency ,
Enforcement Actions ,
Foreign Securities ,
Internet Marketing ,
Popular ,
Securities Violations ,
State Securities Regulators ,
Token Sales
On October 30, 2015, the U.S. Securities and Exchange Commission adopted final rules permitting issuers to use crowdfunding to raise capital. The rules, which were originally proposed more than two years ago pursuant to Title...more
On March 25, 2015, the SEC formally adopted its final rule amendments governing the expansion of registration exemptions for public offerings of $50 million or less in any 12-month period under Regulation A of the Securities...more
On February 16, 2015, the Texas State Securities Board voted to formally adopt their proposed Rule 139.27, which provides an exemption from dealer registration for intermediaries providing services solely in connection with...more
On February 9, 2015, the SEC proposed amendments requiring disclosure in proxy and information statements regarding issuers' policies governing the entrance of employees, officers, and directors into hedging transactions...more
2/16/2015
/ CD&A ,
Corporate Governance ,
Directors ,
Disclosure Requirements ,
Emerging Growth Companies ,
Employees ,
Equity Securities ,
Hedging ,
Item 402(b) ,
Proxy Statements ,
Regulation S-K ,
Securities ,
Securities and Exchange Commission (SEC)
On October 22, 2014, the Texas State Securities Board (the "TSSB") voted to formally adopt its proposed Rule 139.25, which provides an exemption from registration for intrastate securities offerings employing a limited...more
In three recent cases, the Texas Supreme Court has made it clear that for claims of "minority shareholder oppression" — essentially, acts of a majority shareholder group that are harmful to a minority shareholder without...more
The staff of the Securities and Exchange Commission's Division of Trading and Markets (the "Staff") recently issued a no–action letter (the "Letter")1 that provides significant new guidance with respect to the involvement of...more
On October 23, 2013, the SEC formally issued its proposed rules governing the "crowdfunding" registration exemption created under Title III of the Jumpstart Our Business Startups Act of 2012 (the "JOBS Act"), and FINRA...more