Saint or Sinner? The Efficacy of the Proposed “1,000 Shareholder” Amendment to Section 12(g)

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In response to what they believe to be a hindrance to capital formation, Representatives David Schweikert (R-AZ) and Jim Himes (D-CT) have introduced a bill in the House that would amend Section 12(g) of the Exchange Act. The amendment, among other things, would change the “500 Shareholder Rule” to a “1,000 Shareholder Rule,” creating more room for growth prior to requiring Section 12(g) registration. The state of the current law and the efficacy of the proposed changes are discussed in the article found below.

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