On March 12, 2025, the Securities and Exchange Commission (the “SEC”) issued a No-Action Letter that provided guidance regarding the ways issuers can satisfy the accredited investor verification requirements of offerings made...more
4/3/2025
/ Accredited Investors ,
Capital Markets ,
Disclosure Requirements ,
Investment ,
New Guidance ,
No-Action Letters ,
Private Funds ,
Regulation D ,
Regulatory Requirements ,
Rule 506(c) ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
One of the challenges facing venture capital firms is how to handle investments in portfolio companies prior to the initial close (“Initial Close”) of a new fund (“New Fund”). Typically, the investment advisor (“VC Advisor”),...more
The Securities and Exchange Commission (the “SEC”) recently voted to propose temporary rules to permit companies to provide equity compensation to certain workers known as “gig” or “platform” workers....more
On November 2, 2020, the Securities and Exchange Commission (the “SEC”) voted to amend its capital raising rules for Regulation Crowdfunding (“Regulation CF”) with the objective of promoting capital formation and expanding...more
On April 3, 2019, Finhub, the SEC’s Strategic Hub for Innovation and Financial Technology, released the “Framework for ‘Investment Contract’ analysis of digital assets” (the “Framework”) providing principles for analyzing...more
What are the similarities between a one dollar bill, a share of a company, and a prepaid gift card? The answer is … not so much! The same is true of the similarities between virtual currencies, security tokens, and utility...more
11/12/2018
/ Blockchain ,
CFTC ,
Cryptocurrency ,
Digital Assets ,
Distributed Ledger Technology (DLT) ,
Howey ,
Initial Coin Offering (ICOs) ,
Popular ,
Regulatory Oversight ,
Securities and Exchange Commission (SEC) ,
Token Sales ,
Virtual Currency
Small venture capital funds and special purpose vehicles, which otherwise qualify as “venture capital funds,” can now raise money from up to 250 beneficial owners and remain within the 3(c)(1) exemption of the Investment...more
Seniority Matters -
There is little doubt that activity in the trading of secondary shares of private companies remains robust. Private companies are staying private longer and there seems to be an unlimited demand to buy...more
Letter from the Editors -
Dear Readers,
Our client, Benji Cohen, was running an Energy Markets Division at Macquarie when he had a lightbulb moment. Everywhere he looked valuation models were being put together in...more
If there is one common theme that entrepreneurs tend to have, it is fire – meaning, many entrepreneurs are passionate about an exciting idea that they seek to turn into a business. However, entrepreneurs often quickly realize...more
Letter from the Editors -
Welcome to the second issue of Mintz Levin’s TechConnect — our bi-monthly newsletter on “all things technology” in the legal and business world, from our perspective, of course. This issue...more
12/29/2015
/ B Corporation ,
Broadcasting ,
Corporate Social Responsibility ,
Crowdfunding ,
Cybersecurity Information Sharing Act (CISA) ,
FinTech ,
Global Intermediary Identification Number (GIIN) ,
IRIS ,
JOBS Act ,
Securities and Exchange Commission (SEC) ,
Socially Responsible Investments ,
Solar Energy
Letter from the Editors -
We are thrilled to provide you with the first issue of Mintz Levin’s TechConnect, a bi-monthly newsletter on “all things technology” in the legal and business world, from our perspective, of...more
10/19/2015
/ Algorithms ,
Capital Raising ,
Congressional Committees ,
Cyber Threats ,
Cybersecurity ,
Cybersecurity Information Sharing Act (CISA) ,
Data Breach ,
Data Privacy ,
Data Protection ,
Data Security ,
Data Security and Breach Notification Act of 2015 ,
General Solicitation ,
Information Technology ,
Innovation ,
Investors ,
Online Platforms ,
Pending Legislation ,
Policies and Procedures ,
Regulation D ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Seed Financing ,
Social Entrepreneurship ,
Startups ,
Venture Capital
The SEC is examining the use of derivatives in the secondary market for shares of private companies. The trading of shares of private companies remains robust, and we are writing this alert to remind everyone that whether you...more
Earlier this month the SEC issued concurrently (i) the Citizen VC No Action Letter (in response to a request for guidance authored by Mintz Levin) relating to the use of 506(b) for a private placement online and (ii) a series...more
The SEC has recently provided clarity as to how an issuer of securities can conduct a private placement in a password protected web page under Rule 506(b), without it being deemed a “general solicitation” and thereby being...more
When the JOBS Act was passed in the spring of 2012, all the “buzz” was about the imminent advent of “Crowdfunding.” But as legal practitioners, business persons, and pundits looked closer at the details under the Crowdfunding...more
On July 10, 2013, the Securities and Exchange Commission (the “SEC”) adopted rules that repealed a long-standing ban on the use of general solicitation for private securities offerings. These changes will be effective in...more
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