News & Analysis as of

New Rules Registration Requirement

McDermott Will & Emery

Global Equity and Employment Law Considerations for 2025

Many countries finalized new regulations and released new guidance in 2024 regarding global equity plans. Multinational companies should confirm whether their equity grant materials and plan administration align with such...more

Venable LLP

Federal Judge Finds SEC Dealer Rule Outside Statutory Authority

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On November 21, 2024, a federal District Court judge in the Northern District of Texas found the Securities and Exchange Commission (SEC) acted without lawful, statutory authority in creating its new Dealer Rule....more

Venable LLP

Tennessee and Utah Amend Charitable Solicitation Laws: New Filing, Disclosure, and Other Obligations Affect Fundraising Compliance...

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Tennessee and Utah have revised the scope of their charitable fundraising laws. These changes will affect how and what nonprofit organizations registered to solicit in those states must disclose to state charity regulators....more

Jones Day

Who Needs Customers, Anyway? New SEC Rules Turn Traders Into Dealers

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The Securities and Exchange Commission (the "SEC" or "Commission") has adopted new rules that further define the phrase "part of a regular business" for purposes of determining whether a person is a "dealer" or "government...more

Latham & Watkins LLP

The SEC’s Definition of a “Dealer” - End of the Road for DeFi, or Just Another Bump?

Latham & Watkins LLP on

The SEC’s ambiguous rule could have a chilling effect both on decentralized finance and on the provision of liquidity to centralized crypto exchanges. The Securities and Exchange Commission (SEC) adopted a new rule on...more

WilmerHale

SEC Adopts New Rules That Will Require More Market Participants to Register as Dealers

WilmerHale on

On February 6, 2024, by a vote of 3-2 along party lines, the Securities and Exchange Commission (the SEC or the Commission) adopted Rules 3a5-4 and 3a44-2 under the Securities Exchange Act of 1934 (the Exchange Act), which...more

Latham & Watkins LLP

SEC Expands Statutory Definition of “Dealer” and “Government Securities Dealer”

Latham & Watkins LLP on

SEC defines the phrase “as part of a regular business” to capture private funds and other market participants that take on liquidity-providing roles. The Securities and Exchange Commission (SEC) adopted new rules that...more

Goodwin

SEC Expands Dealer Definition to Capture Large Traders Regularly Providing Liquidity to the Markets

Goodwin on

High-frequency traders, private funds, decentralized exchange automated market makers, and even state pension plans should consider whether the expanded dealer definition triggers the need to register as a securities dealer...more

Akin Gump Strauss Hauer & Feld LLP

SEC Adopts Narrower Version of Dealer Registration Rules

Earlier today, the Securities and Exchange Commission in a 3‑2 vote adopted new Rules 3a5‑4 and 3a44‑2 (together, the Dealer Rules) under the Securities Exchange Act of 1934, as amended (the Exchange Act), that will define...more

Goodwin

FINRA Adopts New Rules to Address Firm Misconduct

Goodwin on

In This Issue. The Financial Industry Regulatory Authority (FINRA) adopted new rules to address firms with a significant history of misconduct; the Securities and Exchange Commission (SEC) issued an order approving rule...more

Mintz - Immigration Viewpoints

USCIS Publishes Final Rule Revising the H-1B Cap Lottery from a Random Lottery to a Wage-Based Selection Process

On Friday, January 8, 2021, the Department of Homeland Security (DHS) published the final rule to replace the current U.S. Citizenship and Immigration Services (USCIS) H-1B visa petition selection process based on a random...more

Proskauer Rose LLP

SEC Amends Rules to Facilitate Capital Raising in Private Offerings

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On November 2, 2020, the Securities and Exchange Commission adopted amendments to facilitate the use of private, or “exempt,” offerings. The changes will impact offerings structured pursuant to Section 4(a)(2), Regulation D...more

Akin Gump Strauss Hauer & Feld LLP

H-1B Lottery to Take Place a Month Earlier This Year

- New DHS regulation mandates use of an electronic H-1B registration system. - Registration system will be open for only 20 days. - Employers who win H-1B lottery but then do not file H-1B petitions may be penalized....more

Holland & Hart LLP

USDA Clears Path for Hemp Production While FDA Cracks Down on CBD Products

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While it appears very likely that CBD products will someday be cleared for wide-spread sale by federal regulators, that day has not yet come. Many industry participants thought that CBD products became legal when the Hemp...more

White & Case LLP

China Adopts New Foreign Investment Law

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The National People's Congress of China adopted the new Foreign Investment Law on March 15, 2019, with a view toward unifying and streamlining the foreign investment framework into China. The Foreign Investment Laws will go...more

Foster Garvey PC

New Rule Amending H-1B Lottery Selection Process Effective April 1, 2019

Foster Garvey PC on

On January 30, 2018, the Department of Homeland Security (DHS) issued a final rule revising the random selection process (commonly referred to as the annual “H-1B Lottery”) by which the U.S. Citizenship and Immigration...more

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden's 2019 Insights: New UK IPO Rules Encourage Independent Research, Address Perceived Conflicts of Interest

In July 2018, changes came into effect to improve the range, quality and timeliness of information available to the market and to remedy certain perceived conflicts of interest during the U.K. initial public offering (IPO)...more

Sheppard Mullin Richter & Hampton LLP

Regulation A May Prove Useful Alternative to Form S-4 Registration for Public Companies Doing Smaller M&A Deals

Last month, the U.S. Securities and Exchange Commission (“SEC”) announced it had adopted final rules to amend certain parts of Regulation A promulgated under the Securities Act of 1933 (“Securities Act”). These new rules...more

Holland & Knight LLP

New York Public Service Commission Issues Rules for Distributed Energy Resource Suppliers

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The New York Public Service Commission (PSC) recently issued Uniform Business Practices for distributed energy resource (DER) providers (or suppliers), similar to the consumer protection standards that are already in place...more

Pillsbury Winthrop Shaw Pittman LLP

A Limited Exception - California enacts new rules governing exemption for finders in securities transactions

The California Department of Business Oversight has enacted final rules to implement an exemption from broker-dealer registration licensing requirements in California for individuals acting as “finders” in securities...more

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