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.
Lessons Learned from the Parker Drilling DPA and Ralph Lauren NPA
Jaffe Sees 'A Lot' of IPOs in 2013 'Pipeline'
SEC News - Five Year Enforcement Limitation, FCPA Charges for Foreign Nationals, More...
Weekly Brief: Courthouse Violence on the Rise
Corporate Law Report: Workplace Romances, FMLA Changes, California Tax News, and More
Should Wall Street Fear Mary Jo White?
Can Feds Force Companies to Disclose Political Spending?
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"
Direct investment in renewable energy projects has been an anticipated financing option among editorialists and bloggers the past year, and seems to finally be gaining traction in the United States....more
This week the SEC appointed Keith F. Higgins as Director of the Division of Corporation Finance. We don’t know him personally but have seen him speak at conferences and observed his leadership of the ABA’s Federal Regulation...more
"[Crowdfunding] lays the riskiest investments at the doorstep of those investors that can least afford the risk. And it won’t create jobs except for plaintiff’s lawyers…”...more
It was another week of speculation as to when the SEC might finalize or propose any JOBS Act rule. Broc Romanek of the TheCorporateCounsel.net pointed to one article which said the current JOBS Act proposal on eliminating...more
Mary Jo White, now chair of the SEC, submitted a written statement in her confirmation hearing that said “First, I would work with the staff and my fellow Commissioners to finish, in as timely and smart a way as possible, the...more
On Thursday the SEC sent out a press release captioned “SEC Seeks to Halt Scheme Raising Investor Funds Under Guise of JOBS Act.” The action doesn’t really have anything to do with the JOBS Act, as in the sense that it seeks...more
Reuters reports that Representative Patrick McHenry, of North Carolina, who chairs the House Financial Services oversight panel, said he believes the Securities and Exchange Commission lost its ability to enforce the ban on...more
It’s about one year since President Obama signed the Jumpstart Our Business Startups Act (the JOBS Act), designed to help new companies raise capital and go public. For individual investors the most troublesome provisions of...more
On March 26, 2013, the SEC's Division of Trading and Markets issued a no-action letter indicating that it would not recommend enforcement action under Section 15(a)(1) of the Exchange Act if a venture capital fund adviser and...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
The SEC has granted AngelList relief on accepting transaction based compensation for crowd funding, exempting it from the broker-dealer rules. A couple days ago, the SEC granted relief to thefundersclub.com. Makes you kind...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
The Securities and Exchange Commission’s (SEC) Division of Trading and Markets and the Financial Industry Regulatory Authority (FINRA) recently published items of particular interest to firms following the progress of the...more
Crowdfunding is legal. Sort of. Before you start soliciting for investors on Facebook, you need to know that general solicitations to sell equity to your company not listed on the stock exchange or otherwise registered is...more
The annual “SEC Speaks” conference, in which Securities and Exchange Commission (SEC) representatives review the agency’s efforts over the past year and preview the year to come, was held on February 22-23, 2013. A...more
SEC commissioners called for a more regulations and oversight to protect investors from fraud and other dangers, reports Miller Canfield securities compliance and enforcement lawyer Matt Allen.
Allen attended the 42nd...more
Both Section 2(1) of the Securities Act of 1933 and Section 25019 of the Corporate Securities Law of 1968 provide extensional definitions of the term “security”. That is, they each list everything within the term being...more
On January 10, 2013 the Financial Industry Regulatory Authority (“FINRA”) issued a voluntary Interim Form for funding portals (the “Interim Form”). The Interim Form is designed for prospective crowdfunding portals under the...more
The Nevada Securities Law (Chapter 90 of Nevada Revised Statutes) is administered and enforced by the Securities Division of the Nevada Secretary of State. Last week, Nevada Secretary of State Ross Miller issued this press...more
On December 3, 2012, FINRA released a set of FAQs relating to new Rule 5123, which went into effect on December 3 and requires FINRA members to file with FINRA copies of the private placement memorandum, term sheet, or other...more
Reports that U.S. Securities and Exchange Commission (SEC) Chairman Mary Schapiro will be leaving her post next week have raised questions as to the fate of a number of high-profile issues currently on the Commission’s...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
JD Supra gets your content noticed, increases your visibility and makes your marketing efforts hassle free...
Learn More or Schedule a demo