On March 12, 2025, the Securities and Exchange Commission issued a significant No-Action Letter, providing clarity on how issuers can satisfy the “reasonable steps” requirement for verifying accredited investor status in Rule...more
4/4/2025
/ Accredited Investors ,
Due Diligence ,
High Net-Worth ,
Investment ,
Investment Funds ,
New Guidance ,
Private Funds ,
Red Flags Rule ,
Regulation D ,
Rule 506(c) ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
On December 18, 2019, the Securities and Exchange Commission (SEC) issued a proposed rule – “Amending the ‘Accredited Investor’ Definition” (the Proposed Rule) – that would expand access to private funds for certain...more
12/23/2019
/ Accredited Investors ,
Capital Raising ,
Comment Period ,
Family Offices ,
Institutional Investors ,
Private Funds ,
Private Placements ,
Registered Investment Advisors ,
Registered Investment Companies (RICs) ,
Regulation D ,
Rule 506 Offerings ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC)
On December 18, 2019, the Securities and Exchange Commission (SEC) issued a proposed rule – “Amending the ‘Accredited Investor’ Definition” (the Proposed Rule) – that would expand access to private funds for certain...more
12/23/2019
/ 501(c)(3) ,
Accredited Investors ,
Business Development Companies ,
Family Offices ,
Institutional Investors ,
Proposed Rules ,
Registered Investment Advisors ,
Registered Investment Companies (RICs) ,
Regulation D ,
Rule 144A ,
SBIC ,
Securities and Exchange Commission (SEC)
On September 26, 2019, the Securities and Exchange Commission (SEC) announced that it has expanded the “testing-the-waters” exemption to all issuers. The new rule and related amendments under the Securities Act of 1933, as...more
10/8/2019
/ Accredited Investors ,
Business Development Companies ,
Corporate Issuers ,
Emerging Growth Companies ,
Initial Public Offering (IPO) ,
Institutional Investors ,
JOBS Act ,
New Rules ,
Proposed Rules ,
Qualified Institutional Buyers ,
Registered Investment Companies (RICs) ,
Rule 163B ,
Securities Act ,
Securities and Exchange Commission (SEC) ,
Testing-the-Waters Communications
On February 19, 2019, the Securities and Exchange Commission (SEC) announced a proposal to expand the “testing-the-waters” exemption to all issuers. Currently the exemption is limited to emerging growth companies (EGCs)....more
2/25/2019
/ Accredited Investors ,
Business Development Companies ,
Emerging Growth Companies ,
Exemptions ,
Initial Public Offering (IPO) ,
Institutional Investors ,
Investment Company Act of 1940 ,
JOBS Act ,
Proposed Rules ,
Registered Investment Companies (RICs) ,
Registration Statement ,
Safe Harbors ,
Securities and Exchange Commission (SEC)