My first post discussed the requirements for the Section 4(c) exemption from broker-dealer registration added by the JOBS Act. This second part will apply Section 4(c) of the Securities Act of 1933 to a number of situations where questions can be raised whether the activities require registration as a broker-dealer. Person Acting as A Finder … Continue Reading
Cannabis Crowdfunders Should Beware SEC Advertising Guidance 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. This is a […]
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 … Continue Reading
What’s up with Crowdfunding? So far, not much (but a fix may be coming)

Posted By: Robert C. White Jr.

The SEC’s crowdfunding rules (under Regulation Crowdfunding) became effective earlier this week. From the legal and legislative perspectives this was a big day since it marked the effective date of one of the most heavily anticipated and promoted components of the JOBS Act. It is also the last provision of the JOBS Act to be... Continue Reading

Montana and Massachusetts Challenge the SEC on Reg A+ Two states have brought legal action against the U.S. Securities and Exchange Commission (SEC) for exceeding the authority granted to it under the Jumpstart Our Business Startups (JOBS) Act. Massachusetts and Montana, which initiated the lawsuit at the behest of the North American Securities Administrators Association, believe that the SEC exceeded its authority in issuing… Continue Reading
SEC Approves Amendments to Implement Provisions of the JOBS Act and FAST Act On May 3, the Securities and Exchange Commission approved amendments to revise certain rules under the Securities Exchange Act of 1934 (Exchange Act). A detailed discussion of the proposals on which these rule amendments are based can be found in the Corporate & Financial Weekly Digest edition of January 9, 2015. These final rule amendments,… Continue Reading
The Equity Crowdfunding Rules: What You Need to Know The SEC’s equity crowdfunding rules finally go into effect this month almost four years after Congress passed the JOBS Act, requiring the relaxing of certain rules on raising funds. So what does equity crowdfunding actually look like? Here is a primer: Non-public US companies may raise funds on the internet from accredited and non-accredited investors alike … Continue reading this entry