News & Analysis as of

Underwriting Beneficial Owner

Akin Gump Strauss Hauer & Feld LLP

FinCEN Customer Due Diligence Requirements Will Affect Certain Securities Offerings

Beginning May 11, 2018, the new Financial Crimes Enforcement Network (FinCEN) customer due diligence rule (the “CDD Rule”) will require covered financial institutions to identify, and verify the identity of, the beneficial...more

Morrison & Foerster LLP - JOBS Act

Second Circuit Holds Facebook IPO Underwriters Not Subject to Short-Swing Profit Rules

On November 3, 2016, the Second Circuit upheld the district court’s ruling involving the Facebook IPO that underwriters of the IPO are not required to disgorge short-swing profits made with their sales and purchases of shares...more

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