Dodd-Frank Implementation: Navigating the Road Ahead
Table of Contents: Introduction; Financial Stability Reform; Resolution Planning; Agencies and Agency Oversight Reform; Securitization Reform; Derivatives Regulation; Investor Protection Reform; Credit...
View ArticleSEC Approves New Compensation Committee and Adviser Independence Listing...
As discussed in two previous Client Alerts, on June 20, 2012, the U.S. Securities and Exchange Commission (the “SEC”) adopted Rule 10C-1 to implement the provisions of the Dodd-Frank Wall Street Reform...
View ArticleSEC Offers Guidance on Use of Social Media for Public Disclosure
On April 2, 2013, the U.S. Securities and Exchange Commission (SEC) issued guidance in the form of the Report of Investigation under Section 21(a) of the Securities Exchange Act of 1934 which indicates...
View ArticleSEC Staff Provides Guidance on Conflict Mineral and Resource Extraction...
On May 30, 2013, the staff (the “Staff”) of the U.S. Securities and Exchange Commission (the “SEC”) published Frequently Asked Questions (“FAQs”) regarding certain disclosures required under the...
View ArticleGoldilocks, Porridge and General Solicitation
Introduction - At long last, the U.S. Securities and Exchange Commission (SEC) took action today to implement rules that complied with the JOBS Act mandate to relax the prohibition against general...
View ArticlePrivate Offerings: Questions that Might Frequently be Asked Sometime Soon
Although the SEC’s final rule relaxing the ban on general solicitation in certain Rule 506 offerings and Rule 144A offerings was highly anticipated, the final rule leaves open or raises a number of...
View ArticleThe Guide to Social Media and the Securities Laws
REGULATION FD - Beginning in 1999 and continuing into 2000, media reports about selective disclosure of material nonpublic information by issuers raised concerns that select market professionals who...
View ArticleReminders for Issuers That Intend to Use General Solicitation
Privately held operating company issuers (as distinguished from private funds) should plan ahead if they intend to use general solicitation for Rule 506(c) offerings after September 23, 2013. Here are...
View ArticleSEC Proposes Pay Ratio Disclosure Rules
At an open meeting on September 18, 2013, the Securities and Exchange Commission (“SEC”) approved for public comment proposed rules to implement Section 953(b) of the Dodd-Frank Wall Street Reform and...
View ArticleSEC to Remain Open in Event of Shutdown
As was the case back in 1995 when the government last experienced a shutdown, the SEC announced that it will remain open and operational in the event the federal government undergoes a lapse in...
View ArticleThe Guide to Social Media and the Securities Laws
REGULATION FD - Beginning in 1999 and continuing into 2000, media reports about selective disclosure of material nonpublic information by issuers raised concerns that select market professionals who...
View ArticleSEC Re-Opens Comment Period for Regulation D Proposal
On September 27, 2013, the SEC published Release No. 33-9458 to re-open the comment period for its proposed amendments to Regulation D, Form D and Securities Act Rule 156. The comment period for the...
View ArticlePrivate Offerings: Questions that Might Frequently be Asked Sometime Soon...
Shortly after the Securities and Exchange Commission (SEC) adopted the final rule relaxing the prohibition against general solicitation in connection with offerings made pursuant to new Rule 506(c) and...
View ArticleJOBS 2.0 Hearing Rescheduled
On October 24, 2013, the House Subcommittee on Capital Markets and GSEs will hold a hearing on “Legislative Proposals to Reduce Barriers to Capital Formation.” The hearing was originally scheduled for...
View ArticleSEC to Consider Crowdfunding Proposals on October 23
The SEC has provided very short notice of an open meeting to consider proposed rules under Title III of the JOBS Act. Title III of the JOBS Act amended Section 4 of the Securities Act to add paragraph...
View ArticleThe Short Field Guide To IPOs
The emerging growth Company - The JOBS Act created a new class of issuer: the emerging growth company (EGC). An EGC is defined as an issuer with total annual gross revenue of less than $1 billion...
View ArticleSEC Announces Agenda and Panelists for Small Business Forum
The SEC has announced the agenda and panelists for its annual Small Business Forum on November 21, 2013. The event will begin at 9 a.m. at the SEC (and via webcast), and will include two morning panel...
View ArticleSEC Staff Provides Rule 506(c)/Rule 144A Guidance
Today, the SEC Staff in the Division of Corporation Finance updated the Securities Act Rules Compliance and Disclosure Interpretations to provide a number of new interpretations regarding Rule 506(c)...
View ArticleStanding out from the Crowd: A Closer Look at the SEC’s and FINRA’s Proposed...
In this alert, we provide a detailed overview of the proposed regulatory framework that will be applicable to crowdfunding offerings conducted pursuant to Title III of the JOBS Act in reliance on...
View ArticleMoFo’s Quick Guide to: REIT IPOs
Real Estate Investment Trusts (“REITs”) are endlessly inventive. They were first developed in the 1960s as a means for ordinary retail investors to hold interests in real estate. The REIT market has...
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