News & Analysis as of

Amended Regulation Securities Act of 1933

Dorsey & Whitney LLP

The SEC Amends Policy on Economic Projections, and Issues Final Rules and Additional Guidance for SPACs and Shell Companies

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The SEC on January 24, 2024 adopted final rules amending the disclosure and registration requirements applicable to special purpose acquisition companies (SPACs) and shell companies that register or file reports with the SEC....more

WilmerHale

Recent Amendments to Definition of “Accredited Investor” Now Effective; Individuals May Now Also Be Accredited Through Credentials

WilmerHale on

In August 2020, the SEC adopted amendments to the definition of “accredited investor” that will expand participation in certain securities offerings including those conducted under Rules 506(b) and 506(c) of Regulation D,...more

Eversheds Sutherland (US) LLP

On the right track: Securities & Exchange Commission adopts rules to streamline private offering exemptions

On November 2, 2020, the Securities and Exchange Commission (the SEC) voted to adopt final amendments (the Amendments) to “simplify, harmonize, and improve certain aspects of the exempt offering framework.” The Securities Act...more

BCLP

SEC, in Split Vote, Expands Accredited Investor Definition, Paving Way for More Investors to Access Private Capital Markets

BCLP on

The SEC adopted amendments on August 26, 2020 by a 3-2 vote, to expand the definition of “accredited investor,” paving the way for certain financially sophisticated institutional and individual investors to participate in...more

Dechert LLP

SEC Adopts Amendments to Update Accredited Investor and Qualified Institutional Buyer Definitions

Dechert LLP on

The Securities and Exchange Commission on August 26, 2020 adopted amendments to the definition of “accredited investor” to: add new categories of investors (both for individuals and entities); codify long-standing SEC staff...more

Troutman Pepper

SEC Amends “Accredited Investor” Definition

Troutman Pepper on

On August 26, the U.S. Securities and Exchange Commission (SEC) adopted amendments expanding the definition of “accredited investor” to allow additional categories of investors to invest in unregistered private offerings. The...more

Brownstein Hyatt Farber Schreck

SEC Amends Accredited Investor Definition

On Aug. 26, 2020, the Securities and Exchange Commission (SEC) announced amendments to the definitions of “accredited investor” and “qualified institutional buyer” (QIBs) to expand the universe of investors who are eligible...more

Proskauer - Blockchain and the Law

Blockstack Announces SEC Filing for $50 Million Regulation A Token Offering

On April 11, Blockstack Token LLC (“Blockstack”) filed a preliminary offering circular with the SEC for a $50 million token offering under Regulation A of the Securities Act. The offering circular is now under review with the...more

Dorsey & Whitney LLP

Summary of SEC’s FAST Act Amendments and Additional Guidance on Confidential Treatment Requests

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The Securities and Exchange Commission finalized amendments to its regulations to modernize and simplify disclosure requirements for public companies, investment advisors and investment companies, consistent with the...more

Perkins Coie

SEC Adopts New Disclosure Requirements for Mining Companies

Perkins Coie on

The Securities and Exchange Commission recently adopted amendments to modernize the rules relating to property disclosure requirements for mining registrants, and Industry Guide 7 (Guide 7), under the Securities Act of 1933,...more

A&O Shearman

SEC Issues Final Rules to Increase Rule 701 Enhanced Disclosure Threshold

A&O Shearman on

Publishes Concept Release to Explore Rule 701 and Form S-8 Reform - The Adopting Release - On June 18, 2018, the Securities and Exchange Commission (SEC) issued final rules to amend Securities Act Rule 701, which...more

Morrison & Foerster LLP - JOBS Act

Bipartisan Congressional Legislation Introduced Aimed at Increasing IPO Activity

On October 2, 2017, Congressmen Ted Budd (R-NC) and Gregory Meeks (D-NY) introduced a bipartisan bill, H.R. 3903, in the U.S. House of Representatives....more

Morrison & Foerster LLP - JOBS Act

House Debate Scheduled for Bills Relating to Capital Access for Small Business

Next week, the House is scheduled to debate two bills designed to reduce regulatory burden on small businesses in order to facilitate access to capital. H.R. 5424, the Investment Advisers Modernization Act, was approved by...more

Morrison & Foerster LLP

SEC Proposes Rule Changes to Pave the Way for Intrastate and Regional Offerings

At the same time the Securities and Exchange Commission (the “SEC”) adopted rules implementing Regulation Crowdfunding pursuant to Title III of the Jumpstart Our Business Startups Act (the “JOBS Act”), the agency proposed...more

Sands Anderson PC

A+ for Raising New Capital

Sands Anderson PC on

Access to capital for private companies just became easier and most likely cheaper. The U.S. Securities and Exchange Commission’s amendments to Reg A under the Securities Act of 1933 went into effect on June 19, 2015....more

Latham & Watkins LLP

SEC Adopts Regulation A+ Rules

Latham & Watkins LLP on

As amended, Regulation A now provides an exemption from registration for certain issuers offering up to US$50 million of securities in a 12-month period. On March 25, 2015, the Securities and Exchange Commission (SEC)...more

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