The Securities and Exchange Commission (the “SEC”) amended and expanded its capital raising rules for Regulation Crowdfunding (“Regulation CF”) in November 2020, effective in March 2021, to increase the amount that a company...more
I have frequently commented on the fact that many so-called “investor protections” have the unintended consequence of increasing the risk of investor losses. One example are limitations on resales. An illiquid security is...more
I. Introduction - Over the past decade, a paradigm shift has been occurring in the capital markets that has opened a new panoply of options for security holders desiring liquidity. Originally Published in...more