On September 27, 2023, the Securities and Exchange Commission (the “SEC”) announced charges against six officers, directors, and major shareholders of public companies (“insiders”) for failing to timely report and file...more
On August 29, 2023, less than one year after President Biden’s directive to federal officials, including the U.S. Department of Health and Human Services (“HHS”) and the U.S. Attorney general, to conduct a review of cannabis’...more
On June 16, 2021, the U.S. House of Representatives voted (215-214) to pass the ESG [Environmental, Social and Governance] Disclosure Simplification Act of 2021 (H. R. 1187) (the “Bill”). This legislation would build on the...more
On March 4, 2021, the Securities and Exchange Commission announced the formation of a Climate and ESG Task Force in the Division of Enforcement (the “Task Force”). The Task Force will be aimed at detecting ESG-related...more
On November 2, 2020, the Securities and Exchange Commission adopted amendments intended to ease the rules for certain exempt offerings. These changes include increasing the annual cap on equity crowdfunding from $1.07 million...more
The New York Stock Exchange (NYSE) and The Nasdaq Stock Market LLC (Nasdaq) both took action this month to provide issuers with much needed relief in response to the economic downturn caused by the COVID-19 pandemic. We...more
On March 12, 2020, the U.S. Securities and Exchange Commission (the “SEC”) adopted amendments to the definition of “accelerated filer” and “large accelerated filer” definitions in Exchange Act Rule 12b-2, which amendments...more
The Securities and Exchange Commission (“SEC”) announced on September 26, 2019 that it voted to adopt the application of “testing-the-waters” rules to all issuers who engage in raising capital in the public markets. This...more
10/3/2019
/ Accredited Investors ,
Emerging Growth Companies ,
Initial Public Offering (IPO) ,
Institutional Investors ,
Investors ,
JOBS Act ,
New Rules ,
Public Offerings ,
Qualified Institutional Buyers ,
Rule 163B ,
Securities Act ,
Securities and Exchange Commission (SEC) ,
Testing-the-Waters Communications
On December 19, 2018, the SEC announced that it had adopted final rules that allow reporting companies to rely on the Regulation A exemption from registration for their securities offerings.
Until recently, the only way...more
2/4/2019
/ Acquisitions ,
Amended Regulation ,
Capital Markets ,
Final Rules ,
Initial Coin Offering (ICOs) ,
Initial Public Offering (IPO) ,
Mergers ,
Publicly-Traded Companies ,
Registration Requirement ,
Regulation A ,
Securities and Exchange Commission (SEC) ,
Smaller Reporting Companies
Although EDGAR continues to accept filings, the government shutdown has now eclipsed its 28th day and the SEC continues to operate with limited staff which is having a crippling effect on the ability of many companies to...more
1/21/2019
/ Capital Formation ,
Capital Markets ,
Filing Requirements ,
Financial Statements ,
Funding ,
Government Shutdown ,
Initial Public Offering (IPO) ,
Publicly-Traded Companies ,
Registration Statement ,
Regulation S-X ,
Section 8(a) ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Stop Order
In a flurry of activity and confluence of developments, the SEC, FINRA and a Brooklyn federal judge have commenced actions and made rulings that continue to define the regulatory framework and obligations surrounding the sale...more
9/13/2018
/ Administrative Orders ,
Broker-Dealer ,
Cease and Desist Orders ,
Cryptocurrency ,
Digital Assets ,
Digital Securities ,
Enforcement Actions ,
Financial Industry Regulatory Authority (FINRA) ,
Hedge Funds ,
Initial Coin Offering (ICOs) ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Motion to Dismiss ,
Professional Disciplinary Actions ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Fraud ,
Settlement ,
Token Sales ,
Unregistered Securities
SNAP Inc., the parent company of Snapchat, went public yesterday with a valuation of approximately $33.4 billion. The Company raised $3.4 billion at $17 per share, and is now trading well above the IPO price. While SNAP has...more