Law Blog Author Archive

Regulation A+ Now Available For Publicly Reporting Companies

January 02, 2019 in Regulation A, Regulation A+, SEC

On December 19, 2018, the SEC adopted final rules allowing reporting companies to Rely on Regulation A to conduct securities offerings. On May 24, 2018, President Trump signed the Economic Growth, Regulatory Relief and Consumer Protection Act (the “Act”) into law requiring the SEC to amend Regulation A to allow for its use by Exchange Read the full article…

SEC Provides Enforcement Driven Guidance On Digital Asset Issuances And Trading

December 26, 2018 in ICOs, Initial Coin Offerings

On November 16, 2018, the SEC settled two actions involving cryptocurrency offerings which settlement requires the registration of the digital assets. On the same day, the SEC issued a public statement stating, “[T]hese two matters demonstrate that there is a path to compliance with the federal securities laws going forward, even where issuers have conducted an illegal unregistered offering Read the full article…

Nasdaq Amends Its 20% Dilution Shareholder Approval Rule

Effective September 26, 2018, Nasdaq amended Rule 5635(d) to provide greater flexibility and certainty for companies to determine when a shareholder vote is necessary to approve a transaction that would result in the issuance of 20% or more of the outstanding common stock or 20% or more of outstanding voting power in a PIPE or Read the full article…

The SEC’s Strategic Hub For Innovation And Financial Technology

Responding to the growing necessity, in mid-October the SEC launched a Strategic Hub for Innovation and Financial Technology (FinHub). The FinHub will serve as a resource for public engagement on the SEC’s FinTech-related issues and initiatives, such as distributed ledger technology (including digital assets), automated investment advice, digital marketplace financing, and artificial intelligence/machine learning. The Read the full article…

Proposed Rule Changes To Simplify Registered Debt Offerings

December 04, 2018 in SEC

This summer the SEC proposed rule changes to simplify disclosure requirements applicable to registered debt offerings for guarantors and issuers of guaranteed securities, as well as for affiliates whose securities collateralize a company’s securities. The proposed amendments apply to Rules 3-10 and 3-16 of Regulation S-X and are aimed at making the disclosures easier to Read the full article…

SEC Fall 2018 Regulatory Agenda

In October 2018, the SEC posted its latest version of its semiannual regulatory agenda and plans for rulemaking with the U.S. Office of Information and Regulatory Affairs. The Office of Information and Regulatory Affairs, which is an executive office of the President, publishes a Unified Agenda of Regulatory and Deregulatory Actions (“Agenda”) with actions that Read the full article…

Rule Changes for OTCQB and OTCQX

Effective January 19, 2019, OTC Markets will require that all U.S.-incorporated OTCQB and OTCQX companies provide verified share data through a transfer agent that participates in its Transfer Agent Verified Shares Program. The Transfer Agent Verified Shares Program allows transfer agents to provide regular updated information on the number of authorized and outstanding shares to Read the full article…

Recent Notable Changes To Delaware Corporate Law

This summer the Delaware legislature passed several amendments to the Delaware General Corporation Law (DGCL) which impact public and private companies incorporated in Delaware, and elsewhere, as many states follow the DGCL. Mergers Using DGCL Section 251(h) Section 251(h) was first enacted in 2013. Section 251(h) eliminates the need for shareholder approval to complete a Read the full article…

Financial Statement Disclosure Relief Under Rule 3-13

November 06, 2018 in SEC

Rule 3-13 of Regulation S-X allows a company to request relief from the SEC from the financial statement disclosure requirements if they believe that the financial information is burdensome and would result in disclosure of information that goes beyond what is material to investors. Consistent with the ongoing message of open communication and cooperation, the Read the full article…

SEC Commissioner Hester Peirce Continues to Support Technology

October 30, 2018 in Cryptocurrencies, SEC

In three recent speeches, SEC Commissioner Hester Peirce continued to proclaim her support for technological innovation and freedom in capital markets. On September 12, 2018, Ms. Peirce gave a speech at the Cato Institute’s FinTech Unbound Conference which she titled Motherhood and Humble Pie, on September 24 she spoke at the University of Michigan Law Read the full article…

1 2 3 4 5 45