Securities & Exchange Commission The Jump-Start Our Business Start-Ups Act

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.  less -
News & Analysis as of

Crowdfunding 2.0?

On October 24, 2013, the Securities Exchange Commission (the “SEC”) published proposed rules (Release Nos. 33-9470; 34-70741) to permit companies to offer and sell securities through “regulation” crowdfunding as proposed in...more

No Billboards, Please

Companies intending to seek funding under the JOBS Act’s crowdfunding provision gained a seeming advantage in September when the SEC removed its ban on the general solicitation or advertising of certain types of private...more

Future of Regulation A+ Uncertain

Earlier this month a group of Congressmen wrote to SEC Chair White regarding state preemption for Regulation A+ offerings. The letter suggests that, at the time that the JOBS Act was being debated and considered, Congress...more

Investment Management Legal + Regulatory Update -- June 2014

In This Issue: - Regulation ..SEC Begins to Scrutinize Registrants’ Cybersecurity Practices ..SEC Staff Sets Boundaries for Adviser Testimonials in Social Media ..Chair White: SEC to Tackle High-Frequency...more

Private Fund Update - June 2014

In this issue: - The 113th Congress - The Administration - Securities and Exchange Commission - Association for Corporate Growth (ACG) - Private Equity Growth Capital Council (PEGCC)...more

Recent Developments for Intrastate Crowdfunding and Social Media Use

In June 2013, the N.C. House of Representatives approved HB 680, the Jumpstart Our Business Startups Act (NC JOBS Act) by an overwhelming bipartisan vote of 103-1. Designed to utilize the “intrastate offering” exemption found...more

Committee Passes JOBS Act Related Bills

The House Financial Services Committee passed several bills designed to promote capital formation, including: HR 4200, the Small Business Investment Companies (SBICs) Advisers Relief Act, introduced by Rep. Blaine...more

The Financial Report Volume 3, No. 9 • May 2014 (Global)

Discussion and Analysis - Often, overwhelming public opinion is absolutely correct. This week’s news has been dominated by the NBA’s banning of LA Clippers owner Donald Sterling over the outrageous and inexcusable...more

Hearing on Proposed JOBS Act Related Bills

On May 1st, the House Financial Services Committee will hold a hearing on various proposed bills related to the JOBS Act. One of the bills addresses the crowdfunding framework and would have the effect of striking Title III...more

Disclosure Overload and “Cutting the Clutter”

In various speeches recently, SEC representatives have addressed the need for disclosure reform following the December 2013 release of the JOBS Act-mandated Regulation S-K study. The disclosure review will begin by...more

Foreign (non-U.S.) Issuers

The SEC recently provided some data on registered offerings by foreign issuers, noting that: - In 2013, there were approximately 50 new foreign registrants... ...more

ECCF

Recently, Craig Lewis, the Chief Economist and Director of the SEC’s Division of Economic and Risk Analysis, commented on the economic impact of various JOBS Act reforms, or the effects on “efficiency, competition, and...more

Private Fund Update - April 14, 2014

In this issue: - The 113th Congress - The Administration - Securities and Exchange Commission - Commodity Futures Trading Commission (CFTC) - Association for Corporate Growth (ACG) -...more

In Case You Missed It - Interesting Items for Corporate Counsel

The Director of the SEC’s Division of Corporation Finance, Keith Higgins, recently gave the keynote address, here, at the 2014 Angel Capital Association Summit. He focused on the following three items on the SEC rulemaking...more

Thomson Reuters Session 1: Investment Management, Hedge Funds and Registered Mutual Funds: What's Happening Now?  [Video]

Pepper partner Gregory J. Nowak has regularly hosted a roundtable in Pepper’s New York office for private funds and their managers to discuss issues in the investment management world. He has recently started to give a...more

Accredited Investor Verification under Rule 506(c)

Bill Carleton has a good post regarding the recent comments from Keith Higgins, the Director of the Division of Corporation Finance, who spoke at the 2014 Angel Capital Association Summit. Higgins discussed the SEC’s...more

Beware the "Bad Actor" - SEC Disqualification and Disclosure Requirements Affect Private Offering Issuers

Effective September 23, 2013, the Securities and Exchange Commission (SEC) implemented Section 926 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which provided for expanded liability for "bad actors" in...more

Corporate Communicator - Spring 2014

In this issue of the Corporate Communicator we bring you two short articles on important developments from the SEC relating to private securities offerings and private M&A transactions. In the first article, we discuss the...more

Keith Higgins Speaks To JOBS Act Misperceptions: • The Staff Will Not Be Quick To Second Guess • “Venture Fairs” And “Demo Days”...

In a recent speech, Keith Higgins, Director, SEC Division of Corporation Finance, gave his views on certain misperceptions and other matters regarding general solicitation under the JOBS Act....more

Securities Update - March 2014

In December 2013, the Staff of the Securities and Exchange Commission’s Division of Corporation Finance issued to Congress its “Report on Review of Disclosure Requirements in Regulation S-K” (the S-K Study) that originally...more

JOBS Act: From A+ to D

Today is the end of the comment period on the SEC’s proposing release concerning Regulation A+. Additional comment letters are likely to be received in the next few days. The letters overwhelmingly support the SEC’s...more

The Financial Report - Volume 3, No. 6 • March 2014 (Global)

Discussion and Analysis - For the past year or so, we have been discussing various forms of “crowdfunding” on these pages, especially “investment crowdfunding” -- the use of crowdfunding to raise capital for an...more

JOBS Act Related Bills Move Forward

At the end of last week, the House Financial Services Committee approved two bills, H.R. 3623 and H.R. 4164. H.R. 3623, titled the Improving Access to Capital for Emerging Growth Companies Act, was introduced by Stephen...more

Private Equity Newsletter - Winter 2014: Is the Swim Worth It? Weighing a U.S. Listing as Exit Strategy

Over the past two years, Dechert has witnessed a noticeable increase in interest from non-U.S. companies in pursuing a listing of equity securities on a U.S. securities exchange. This has been due in part to the continued...more

The Good, the Bad and the Offer: Law, Lore and FAQs

An Updated Look at the World of Offers - It all seems simple enough. The concept of “offer” is broad under the securities laws, so companies and underwriters need to be careful about any publicity in connection with a...more

418 Results
|
View per page
Page: of 17