The United States Securities and Exchange Commission was created in 1934 in response to the Great Stock Market Crash of 1929. The Commission was created to protect investors, ensure fairness in the market, and... more +
The United States Securities and Exchange Commission was created in 1934 in response to the Great Stock Market Crash of 1929. The Commission was created to protect investors, ensure fairness in the market, and encourage capital formation. The Commission is headed by five presidentially-appointed Commissioners who oversee the Commission’s five divisions: Division of Corporation Finance, Division of Trading and Markets, Division of Enforcement, Division of Investment Management, and the Division of Risk, Strategy and Financial Information.
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Should Wall Street Fear Mary Jo White?
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Corporate Law Report: Cybersecurity, CEO Social Media, New Workplace Laws, Healthcare Reform in 2013
The Eli Lilly FCPA Enforcement Action-Lessons Learned
Corporate Law Report: Mobile App Privacy, HR & the FCPA, Insider Trading, First Sale Doctrine, More
Mike Koehler on FCPA Enforcement
The New SEC Conflict Minerals Rule: Overcoming the Challenges of Compliance
Crowd funding under the JOBS Act
First SEC whistleblower award-6 lessons learned
Crowdfunding: What Is It? Who Will Use It? Is It Worth the Hype?—Fox Rothschild’s James Saksa
Former SEC Chairman David Ruder Discusses the Dodd-Frank Timeline, Volcker Rule & Cost Benefit Rules (Part 2 of 2)
Rodge Cohen: Dodd-Frank Fixes "Too Big To Fail"
In two recent no action letters, the Securities and Exchange Commission (the “SEC”) granted no action relief for two venture capital online funding platforms, the FundersClub, Inc. (“FundersClub”) and AngelList, LLC...more
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
One of the goals of the JOBS Act was to encourage the development and use of platforms that permit accredited investors to invest in early stage and other private companies. The JOBS Act contains a provision that expressly...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
Last week, the Department of Corporations issued this bulletin which it styled as a “Crowdfunding Update”. The Bulletin makes several important points....more
On February 5, 2013, the SEC released FAQs regarding Section 201 of the JOBS Act, which offers a new limited exemption from broker-dealer registration....more
The Jumpstart of Business Startups Act (JOBS Act) of 2012 has made it easier for Emerging Growth Companies to raise equity and debt with less SEC regulations and financial disclosures. For example Reg A+ allows you to raise...more
Regulation D offerings are a very important part of capital formation. In recent years, annual proceeds from Regulation D private offerings have totaled almost $1 trillion, approximately equal to the proceeds from all SEC...more
On August 29, 2012, the Securities and Exchange Commission (“SEC” or the “Commission”) proposed rules to implement section 201 of the Jumpstart Our Business Startups Act (the “JOBS Act”).1 The JOBS Act directed the SEC to...more
The JOBS Act, signed into law in April, directed the Securities and Exchange Commission (SEC) to remove the prohibition against general advertising and solicitation in private placements conducted under Rule 506 and Rule 144A...more
Introduction: On April 5, 2012, the Jumpstart Our Business Startups Act (the “JOBS Act”) was enacted. The stated objective for the JOBS Act is to improve access to the public capital markets for startup and emerging companies...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
The SEC recently issued long-awaited proposed rules to remove existing general solicitation and advertising prohibitions for private offerings and sales of securities under Rule 506 and Rule 144A under the Securities Act of...more
On August 29, 2012, the SEC announced proposed rules to eliminate the prohibition against general solicitation and general advertising in certain securities offerings. Under the proposed rules, which are mandated by the JOBS...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
In recent weeks, the SEC has given notice of matters that SEC Commissioners will consider at an open meeting on August 22, 2012, including: - general solicitation rulemaking required by Title II of the JOBS...more
In This Issue: JOBS Act: Jumpstart Our Business Startups Act; Fracking: Ohio’s New Oil and Gas Boom; 2012 Estate Planning; American Airlines: Who’s Flying the Plane? Labor Law Update; S Corporations; Blow to Method...more
An overview of the SEC's latest final rule - incorporating the changes to the accredited investor standard....more
On June 22, 2011, the Securities and Exchange Commission ("SEC") adopted final rules under the Private Fund Investment Advisers Registration Act of 2010 (the “Act”), contained in the Dodd-Frank Wall Street Reform and Consumer...more
On July 21, 2010, President Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank Act"). Among other things, the new law provided that, effective immediately, the value of an...more
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