News & Analysis as of September 21, 2024

Crowdfunding › Rule 147

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Crowdfunding is a method for raising capital whereby many individuals network and pool their funds, usually via the internet or social media. Crowdfunding methods are used in a variety of circumstances including, but not limited to, supporting charitable organizations, disaster relief, product development, artistic projects, and financing start-up companies. The passage of the JOBS Act of 2012 sought to broaden the use of crowdfunding in developing private capital for start-up companies by relaxing certain SEC investor registration requirements. less -

Social Media Compliance Guide For Issuers, Broker-Dealers, And Advisers

Mayer Brown Free Writings + Perspectives on 7/9/2018

[author: Trevor Starer] The use of social media raises many securities law and compliance challenges for issuers, broker-dealers, and investment advisers. This Compliance Guide summarizes briefly some key principles. ...more

Tracking State Crowdfunding Regulations

Morrison & Foerster LLP - JOBS Act on 11/2/2017

With the effectiveness of Regulation Crowdfunding in May 2016 and amended Securities Act Rule 147 and new Securities Act Rule 147A in April 2017, there has been increasing interest in intrastate crowdfunded offerings. The...more

Securities Rules for Private Equity Financings

Hinshaw & Culbertson LLP on 8/11/2017

In order to sell securities (notes, common stock, preferred stock, membership interests in an LLC), a company must either register the sale under federal and state securities laws or find an exemption from such registration...more

Changes In Intrastate Crowdfunding Rules: Will They Make A Difference?

Sheppard Mullin Richter & Hampton LLP on 12/1/2016

On October 26, 2016, the Securities and Exchange Commission amended its existing safe harbor rule for intrastate investing, Rule 147, and added a new intrastate safe harbor, Rule 147A in an effort to reflect the realities of...more

Effectiveness Dates Set for Amended Rule 147, New Rule 147A, Amended Rule 504 and Repeal of Rule 505

Morrison & Foerster LLP - JOBS Act on 11/22/2016

On October 26, 2016, the SEC adopted final rules (1) amending Rule 147 and Rule 504 under the Securities Act of 1933, as amended (the “Securities Act”), (2) establishing a new Securities Act exemption designated Rule 147A,...more

SEC Eases Rules on Intrastate Crowdfunding

Manatt, Phelps & Phillips, LLP on 10/31/2016

On October 26 the Securities and Exchange Commission (SEC) unanimously adopted new and amended rules aimed at making it easier for companies to raise money from investors through intrastate and small offerings....more

SEC Adopts Final Rules to Facilitate Intrastate and Regional Securities Offerings

Ballard Spahr LLP on 10/31/2016

The Securities and Exchange Commission (SEC) has adopted final rules modernizing and expanding the ways in which smaller companies can raise capital. Rule 147 of the Securities Act of 1933, as amended, provides a safe...more

New SEC Rules and Their Impact on Securities Offerings

Baker Donelson on 10/31/2016

On October 26, 2016, the Securities & Exchange Commission ("SEC") adopted final rules that may have significant impact on local securities offerings made in one state (or, "intrastate" offerings) and offerings of securities...more

NOTICE: SEC Adopts Rules to Facilitate Intrastate and Regional Securities Offerings

Lowndes on 10/31/2016

On October 26, 2016, the Securities and Exchange Commission (SEC) adopted final rules that modernize how companies can raise money to fund their businesses through intrastate and regional securities offerings....more

SEC Adopts Final Rules Regarding Intrastate and Regional Offerings - Updated

Morrison & Foerster LLP on 10/28/2016

On October 26, 2016, the Securities and Exchange Commission (the “SEC”) adopted final rules regarding intrastate and regional offerings, which largely follow the SEC’s proposed rules issued on October 30, 2015. The final...more

New SEC Rules for Intrastate and Regional Securities Offerings

Stinson - Corporate & Securities Law Blog on 10/27/2016

The SEC has adopted final rules to modernize intrastate securities offerings under Rule 147, adopted new Rule 147A to broaden the availability of the existing safe harbor for intrastate securities offerings and amended Rule...more

SEC Adopts Final Rules Regarding Intrastate and Regional Offerings

Morrison & Foerster LLP - JOBS Act on 10/26/2016

On October 26, 2016 at an open meeting, the SEC adopted final rules regarding intrastate and regional offerings, which closely follow the SEC’s proposed rules issued on October 30, 2015. The final rules amend Securities Act...more

SEC Will Vote on Final Intrastate Offering Exemptions

Morrison & Foerster LLP - JOBS Act on 10/24/2016

On Wednesday, October 26, 2016, beginning at 10:00 a.m., the Securities and Exchange Commission will hold an open meeting at which the Commission will consider the adoption of final rule amendments relating to Securities Act...more

Bipartisan Members of Congress and NASAA Declare Support for SEC’s Proposed Modernization of Rules to Facilitate Intrastate...

Stinson - Corporate & Securities Law Blog on 10/19/2016

On October 7, 2016, a bipartisan contingent of members of the U.S. House of Representatives and the president of the North American Securities Administrator Association (NASAA) coordinated a duel message to the SEC regarding...more

SEC Releases Crowdfunding Rules for Securities Offerings

Dickinson Wright on 12/22/2015

Investors will be able to purchase securities through internet crowdfunding platforms under new final rules released by the Securities and Exchange Commission (SEC) in October. The final rules, known as “Regulation...more

SEC Proposes Amendments to Rules 147 and 504

Katten Muchin Rosenman LLP on 11/10/2015

On October 30, the Securities and Exchange Commission proposed amendments to modernize: (1) Rule 147, promulgated under the Securities Act of 1933 (Securities Act) as a safe harbor exempting intrastate offerings from federal...more

SEC Proposes Amendments to Rule 147 and Rule 504

Cozen O'Connor on 11/10/2015

On October 30, 2015, in connection with the adoption of the final rules to implement securities based crowdfunding as provided under the JOBS Act, the SEC also proposed amendments to Rule 147 and Rule 504 under the Securities...more

Far From The Madding Crowdfunding: A look at the SEC’s proposed changes to Rule 147 and Rule 504

Sheppard Mullin Richter & Hampton LLP on 11/9/2015

On October 30, 2015, the Securities and Exchange Commission adopted the final rules for “Regulation Crowdfunding” nearly two years after issuing its proposed rules and over three years after the enactment of Title III of the...more

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

Morrison & Foerster LLP on 11/6/2015

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

"Corporate Finance Alert: SEC Finalizes Crowdfunding Rules, Proposes to Expand Intrastate Offering and Rule 504 Exemptions"

Skadden, Arps, Slate, Meagher & Flom LLP on 11/5/2015

The U.S. Securities and Exchange Commission (SEC) recently took several important steps to facilitate smaller securities offerings. First, it adopted final rules for the new Securities Act exemption for securities-based...more

Orrick's Financial Industry Week in Review

Orrick, Herrington & Sutcliffe LLP on 11/4/2015

Federal Reserve, OCC, FCA, FHFA and FDIC Adopt Joint Final Rule on Swap Margin Requirements - On October 22, the Office of the Comptroller of the Currency (the "OCC"), the Federal Reserve Board (the "Board"), the Farm...more

SEC Finally Adopts Federal Crowdfunding Rules: All That Glitters May Not Be Gold

Adler Pollock & Sheehan P.C. on 11/3/2015

On October 30, 2015, the Securities and Exchange Commission (“SEC”), by a 3-1 vote, adopted the long-anticipated final rules permitting federal crowdfunding (“Title III Crowdfunding”), providing a potentially attractive...more

SEC Approves New Crowdfunding Rules

Winthrop & Weinstine, P.A. on 11/3/2015

Fulfilling a promise made more than three and a half years ago, on Friday the SEC approved final rules for Regulation Crowdfunding ("Reg CF"), the last remaining component of the JOBS Act of 2012. Reg CF aims to create a...more

SEC Issues Final Rule on Crowdfunding, Proposes Amendments to Existing Rules to Facilitate Small Business Capital Raising

Ballard Spahr LLP on 11/2/2015

Last week, the U.S. Securities and Exchange Commission (SEC) adopted the final rule permitting crowdfunding, permitting investors to purchase securities over the Internet using a crowdfunding exchange, on October 30, 2015....more

SEC Final Crowdfunding Rules and Proposed Amendments to Rule 147 and Rule 504

Morrison & Foerster LLP - JOBS Act on 11/2/2015

The SEC has published the Final Crowdfunding Rules following their earlier meeting wherein the rules were adopted. ...more

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Crowdfunding › Rule 147

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