JOBS Act, Registration Requirement

CFTC Codifies Registration and Reporting Relief for Commodity Pool Operators and Commodity Trading Advisors

Cadwalader, Wickersham & Taft LLP on 1/17/2020

The Commodity Futures Trading Commission (the “CFTC”) approved the publication of two releases (the “Final Rules”) on November 25, 2019, adopting final amendments to Part 4 of the CFTC Rules which codify and expand a number...more

In Case You Missed It - Interesting Items for Corporate Counsel - November 2019

Stoel Rives LLP on 11/15/2019

The SEC’s “inline XBRL” rules went into effect for large accelerated filers for filings made on or after June 15, 2019. Compliance dates are June 15, 2020 for accelerated filers and June 15, 2021 for all others. The rules...more

Come on In, the Water’s Fine: SEC Proposes Expanding “Test-the-Waters” Communications to All Issuers

McDermott Will & Emery on 3/4/2019

On February 19, 2019, the SEC proposed a new rule, Rule 163B, that would allow all issuers to engage in “test-the-waters” communications prior to the effectiveness of a registration statement for a public offering. The...more

Testing the Waters for All? Proposed New Rule Would Expand Accommodation to All Issuers

Mayer Brown Free Writings + Perspectives on 2/22/2019

Since the Jumpstart Our Business Startups (JOBS) Act was enacted in 2012, emerging growth companies (EGCs) have benefited from the opportunity to test the waters with investors and gauge interest in a potential offering....more

SEC Enforcement Action Demonstrates That Timing Is Everything

Allen Matkins on 1/23/2019

Rule 506 is a non-exclusive safe harbor from the registration requirements of the Securities Act of 1933. If an offering meets the conditions of either Rule 506(b) or 506(c), it is deemed to not involve a public offering...more

CFTC Proposes to Simplify, Modernize Commodity Pool Operator and Commodity Trading Advisor Regulations

Skadden, Arps, Slate, Meagher & Flom LLP on 11/14/2018

On October 18, 2018, the Commodity Futures Trading Commission (CFTC) published a proposal in the Federal Register (Proposed Rule) to amend several key compliance and registration regulations governing commodity pool operators...more

CFTC Proposes to Streamline CPO and CTA Regulations by Codifying Prior Relief

Proskauer Rose LLP on 10/24/2018

On October 9, 2018, the Commodity Futures Trading Commission (CFTC) proposed new rules in connection with the CFTC's Project KISS Initiative directed at simplifying Commodity Pool Operator (CPO) and Commodity Trading Advisor...more

Gig Stock: Extension of Rule 701 Exemption for Compensatory Equity Proposed for Gig Economy Participants

Farrell Fritz, P.C. on 9/26/2018

Private companies in the gig economy like Uber, Airbnb and GrubHub would love to issue compensatory equity to their platform participants, just like they’re able to do with their employees. ...more

FAQ: What Businesses Need to Know About Investment Crowdfunding

Ward and Smith, P.A. on 11/9/2017

What is Crowdfunding? Crowdfunding is a marketing tool that businesses use to obtain capital from a large number of individuals, typically over the Internet....more

California Lags Behind The SEC In Permitting Testing Of The Waters In Regulation A Offerings

Allen Matkins on 7/6/2017

In 2015, the Securities and Exchange Commission adopted amendments to Regulation A and other rules and forms to implement Section 401 of the Jumpstart Our Business Startups (JOBS) Act. One significant enhancement to...more

US IPO Guide 2016 Edition

Latham & Watkins LLP on 7/11/2016

This is our initial public offering guide. It will help you decide whether an IPO is the right move for your company and, if so, help you make sure your IPO goes off as quickly and as smoothly as possible, without any...more

Practice Pointers on Navigating the Securities Act’s Prohibition on General Solicitation and General Advertising

Morrison & Foerster LLP on 6/20/2016

The Jumpstart Our Business Startups Act (the “JOBS Act”) included a measure directing the Securities and Exchange Commission (the “SEC” or “Commission”) to relax the prohibition against general solicitation and general...more

SEC approves final rules implementing JOBS Act and FAST Act

Akin Gump Strauss Hauer & Feld LLP on 5/13/2016

On May 3, 2016, the Securities and Exchange Commission (the “Commission”) released final rules1 implementing Titles V and VI of the JOBS Act and Section 85001 of the FAST Act, which together adjusted certain threshold for...more

US Securities and Exchange Commission Adopts Amendments to Implement Provisions of the Jumpstart Our Business Startups Act and...

A&O Shearman on 5/10/2016

The SEC approved amendments to revise the rules related to the thresholds for registration, termination of registration and suspension of reporting under Section 12(g) of the Securities Exchange Act of 1934. These amendments...more

SEC Approves Amendments to Implement FAST Act

Morrison & Foerster LLP - JOBS Act on 5/4/2016

The SEC approved amendments to revise the rules related to the thresholds for registration, termination of registration, and suspension of reporting under Section 12(g) of the Securities Exchange Act. These amendments...more

Regulation Crowdfunding – Funding Portals and Other Crowdfunding Intermediaries

Smith Anderson on 2/11/2016

Title III of the Jumpstart Our Business Startups Act (JOBS Act) created a new securities registration exemption for crowdfunding offerings by adding Section 4(a)(6) to the Securities Act of 1933 (the Securities Act). In late...more

SEC Approves FINRA Portal Rules, Forms for Crowdfunding Under Title III

Ballard Spahr LLP on 2/10/2016

The U.S. Securities and Exchange Commission (SEC) approved the Financial Industry Regulatory Authority, Inc.'s (FINRA) crowdfunding Portal Rules for companies that want to operate an intermediary “funding portal” pursuant to...more

JOBS Act Quick Start – A Brief Overview of the JOBS Act, 2016 Update

Morrison & Foerster LLP - JOBS Act on 2/1/2016

Many market participants were taken by surprise by the enactment of the Jumpstart Our Business Startups (JOBS) Act. The JOBS Act, HR 3606, was passed by the United States House of Representatives on March 8, 2012. On March...more

Joining the Crowd: SEC Adopts Final Crowdfunding Regulations - Part III - Intermediaries

K&L Gates LLP on 1/26/2016

On October 30, the U.S. Securities and Exchange Commission (“SEC”) adopted final rules in the form of Regulation Crowdfunding to implement the securities-based crowdfunding exemption in Section 4(a)(6) of the Securities Act...more

FAST Act Brings Holiday Cheer to Issuers

Baker Donelson on 12/29/2015

"Fixing America's Surface Transportation Act," also known as the FAST Act, was signed by President Obama on December 4, 2015. Although primarily aimed at authorizing spending on highway and transit projects, the FAST Act...more

FAST Act’s Hidden Securities Law Benefits

Pillsbury Winthrop Shaw Pittman LLP on 12/15/2015

The so-called “Fixing America’s Surface Transportation Act” or “FAST Act” was signed into law on December 4, 2015. Buried in the legislation are changes to the JOBS Act and the Securities Act of 1933 that add a statutory...more

Section 12(g)(1)(A) – How The SEC Is Putting Words In Congress’ Mouth

Allen Matkins on 12/14/2015

Section 501 of the Jumpstart Our Business Startups (JOBS) Act amended Section 12(g)(1) of the Securities Exchange Act of 1934 to increase the thresholds for mandatory registration of a class of equity securities. The...more

President Signs FAST Act (Updated December 10, 2015)

Cooley LLP on 12/11/2015

The President has signed the FAST Act into law. As previously discussed, this transportation bill contains several measures that modify the JOBS Act or otherwise relate to capital raising for emerging growth companies,...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

Unlawful Crowdfunding? — SEC Institutes Public Administrative and Cease-and-Desist Proceeding Against Unregistered Broker-Dealer

Morrison & Foerster LLP - JOBS Act on 10/5/2015

In a proceeding on September 28th, the SEC ordered a public hearing to be held before an Administrative Law Judge within the next two months. Further, the SEC ordered the Respondent and two companies under his control, to...more

The Jump-Start Our Business Start-Ups Act › Registration Requirement

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