Chair White’s Testimony on SEC Initiatives

Morrison & Foerster LLP - JOBS Act
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In testimony today, Chair White provided a brief update on various rulemaking initiatives.  She noted that, in connection with the Dodd-Frank Act mandates, the Division of Corporation Finance continues to work to implement provisions of the Dodd-Frank Act relating to executive compensation matters and payments by resource extraction issuers, and is currently conducting the review of the accredited investor definition.  On the JOBS Act, Chair White noted that tomorrow the Commission will meet to consider a final rule implementing Regulation A+ (Title IV of the Act).  She did not comment on Title III, crowdfunding.  She noted that the Division of Corporation Finance is developing recommendations for updating disclosure requirements in furtherance of the work done on the JOBS Act-mandated Regulation S-K study.  She noted that the Commission intends to continue evaluating the tick size pilot program.  The text of the testimony is available here:  http://www.sec.gov/news/testimony/2015-ts032415mjw.html#.VRGymU10yFg.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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