The SEC recently granted two accredited crowdfunding sites exemptions from the broker-dealer rules because the type of carried interest (or close equivalent) used to compensate the site is not transaction based compensation. ...more
My friends in the start-up community are excited about recent headlines suggesting the SEC has greenlighted crowdfunding. Leave it to the lawyer in the crowd to suggest they temper their excitement. As lawyers, we are used...more
When President Obama signed the JOBS Act almost a year ago it introduced a new era of startup financing. But until the SEC makes the required rules, the fundraising bonanza known as crowdfunding that will allow companies to...more
Thefundersclub.com operates a really cool website. The publicly available page advertises “The best way to invest in startups. Insider access to pre-vetted startups. Low minimum investment sizes. Free membership. Join...more
The Jumpstart our Business Startups Act (JOBS Act) directed the Securities and Exchange Commission to (1) remove the prohibition under Rule 502(c) of Regulation D against general solicitation and general advertising in...more
On August 29, 2012, the Securities and Exchange Commission (SEC) proposed rules to implement Section 201(a) of the Jumpstart Our Business Startups Act (JOBS Act).1 Section 201(a) directs the SEC to amend Rule 506 of...more
The Securities and Exchange Commission has proposed new regulations to implement provisions of the JOBS Act, eliminating prohibitions on general solicitation and advertising in certain private placement offerings to...more
On August 29, 2012, the Securities and Exchange Commission (the “SEC”) released its first proposed rule for the implementation of the Jumpstart Our Business Startups Act (the “JOBS Act”): “Eliminating the Prohibition Against...more
On April 5, 2012, President Obama signed into law the Jumpstart Our Business Startups Act, also known as the “Jobs Act.” The Jobs Act will effect dramatic changes in the law as it applies to companies seeking capital by way...more
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