Cannabis Crowdfunders Should Beware SEC Advertising Guidance

By | Canna Law Blog | June 7, 2016
Photo Credit: torbakhopper cc

As we wrote last week, new rules from the Securities and Exchange Commission (“SEC”) implementing the 2012 Jumpstart Our Business Startups Act (the “JOBS Act”) have opened up new opportunities for cannabis businesses to raise up to $1,000,000 of capital by selling small pieces of their company to relatively small-dollar retail investors.

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SEC Adopts Rule Amendments Related to Reporting Thresholds

SEC Adopts Rule Amendments Related to Reporting Thresholds

On May 3, 2016, the Securities and Exchange Commission (SEC) approved rule amendments to implement changes liberalizing certain rules related to registration thresholds, termination of registration, and suspension of periodic reporting obligations under Section 12(g) and Section 15(d) of the Securities Exchange Act of 1934 (Exchange Act), as mandated by the Jumpstart Our Business Startup Act (JOBS Act) and the Fixing America’s Surface Transportation Act (FAST Act).

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