On June 18, 2019, the Securities and Exchange Commission (the “SEC”) issued a concept release (the “Release”) on ways to “simplify, harmonize, and improve the exempt offering framework to expand investment opportunities while...more
9/23/2019
/ Accredited Investors ,
Business Development Companies ,
Capital Raising ,
Investment Funds ,
Investors ,
Issuer Exemption ,
Offerings ,
Private Placements ,
Regulation A ,
Regulation D ,
Rule 506 Offerings ,
SBIC ,
Securities and Exchange Commission (SEC)
On May 3, 2019, the Securities and Exchange Commission (SEC) voted to propose rule amendments with regard to financial disclosures about acquired and disposed businesses (the “Proposal”), including amendments specific to...more
5/16/2019
/ Acquisitions ,
Business Development Companies ,
Closed-End Funds ,
Disclosure Requirements ,
Financial Reporting ,
GAAP ,
Investment Companies ,
Proposed Amendments ,
Regulation S-X ,
Required Forms ,
Securities and Exchange Commission (SEC) ,
Subsidiaries
On March 20, 2019, the SEC adopted rules (the Rules) to implement certain provisions of the FAST Act. The omnibus highway bill called “Fixing America’s Surface Transportation Act” or the “FAST Act,” was signed into law in...more
On February 28, 2019, the Chief Counsel’s Office of the Securities and Exchange Commission’s Division of Investment Management issued a letter stating its no-action position regarding certain in-person voting requirements...more
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)
On December 19, 2018, the US Securities and Exchange Commission (SEC) issued a release (the Release) proposing new rule 12d1-4 (the Proposed Rule) and related amendments to streamline and enhance the regulatory framework that...more
On December 3, 2018, the Securities and Exchange Commission (the SEC) entered an order (the Order) to settle charges arising out of an enforcement action against Fifth Street Management, LLC (FSM). FSM disclosed in March 2016...more
On March 23, 2018, Congress passed its omnibus spending bill, the Consolidated Appropriations Act of 2018, to fund the federal government until October. Included within the spending bill is legislation, titled the Small...more
On December 28, 2016, the Small Business Administration (SBA) released the final version of the Passive Business Rule (the New Rule) under § 107.720 of the small business investment company (SBIC) regulations. Among other...more