Ways and Means Committee Ranking Member Sander Levin
(D-MI) remains intent on increasing tax rates on carried interest (the profits
funds managers earn on thier portfolios, which currently are taxed at
15%). At the end of last week, he announced his...
A reminder for startups that had incentive stock option
exercises in 2011, Section 6039 of the Internal Revenue Code requires companies
to furnish a written statement to any employee or former employee who either
(i) exercised an incentive stock option...
The IRS issued a notice recently that proposes some major revisions to Circular 230. The notice would change the way disclaimer footers are displayed in attorney communications, possibly eliminating the need for them altogether.
Following are some...
Important news out of the SEC this
week for investment advisers who are now registering or filing
reports as exempt reporting advisers (ERAs) courtesy of the new Dodd-Frank
requirements. The SEC posted a new
FAQs on its website regarding Form ADV...
This edition of The Venture Spotlight features a 30 minute interview with Sam Schmidt, a professional indy car driver who suffered a horrific crash about 10 years ago leaving him paralyzed from the neck down. Now Sam heads a racing team and also periodically...
On December 13, 2013, the SEC issued a proposed rule , which contains a draft of the long-awaited regulations implementing Section 401 of the Jumpstart Our Business Startups Act (JOBS Act), creating a new securities registration exemption commonly known...
by Karl J. Ege, Martin E. Lybecker, Danielle Benderly, and James T. Carroll
The JOBS Act's stated purpose
is to spur job creation and economic growth by improving access to capital for
emerging growth companies. To do so, the JOBS Act will make...
On this edition, Dick Phillips and Alan Berkeley of K&L Gates and Stan Keller of Edwards Wildman discuss the JOBS Act (Jumpstart Our Business Startups Act), which was signed into law April 5 by President Obama. They provide an overview of the legislation...
As contemplated by the Dodd-Frank Act, advisers that only manage venture capital funds will be exempt from the new registration requirements imposed upon private fund advisers under the Investment Advisers Act of 1940 (the " Advisers Act ")...
Online and social media have revolutionized the way companies interact with their customers - allowing them to target customer interests and engage customers much more directly. Entering into the world of social media, however, may pose reputational challenges...
Many seem a little confused by the flurry of regulatory activity in Congress and the SEC the last few years when it comes to small business and capital formation. Regulation D? Regulation A? Kickstarter? Crowdfunding? Which is which? Here’s a few...
As a result of the new rules under the Investment
Advisers Act of 1940, even fund managers that are exempt from registration will
need to file annual reports with the SEC. Exempt reporting advisers (" Exempted
Advisers "), including fund...
In this post, I decided to go over the first steps a
founder should take (in my humble opinion) to start his or her own business.
What should come next, after you get an idea for a business? Well, you would
most likely want to run it by your friends and...
Many of us are anxiously awaiting the SEC's implementation of the rules that will allow funds and companies to engage in general solicitations as part of their fundraising efforts. The SEC was directed to implement those rules within 90 days of the...
Since the Jumpstart Our Business Startups Act
(JOBS Act) was passed by Congress this past April, the EB-5 community has
waited in anticipation for the Securities Exchange Commission (SEC) to revise
its rul es to remove the prohibition on general
The Jumpstart Our Business Startups Act, as amended by
the Senate, was voted on by the House of Representatives yesterday and passed
380 to 41. That makes it a very bi-partisan bill, even though a ll 41 "Nays" were
Democrats . If I remember...
As we know, the Senate changed the version of the
Jumpstart our Business Startups (JOBS) Act in only one way, they added an
amendment, drafted by Sen. Merkley (but also supported by Sens. Bennet and
Brown), which added more investor protections to...
The SEC announced yesterday that it will be holding an
open meeting on June 22, 2011, evidently to discuss new proposed
changes to the new Advisers Act rules pending under Dodd Frank. For fund
managers concerned about becoming subjected to Advisers...
Representative Kevin McCarthy (R-CA and House Majority
Whip) recently introduced the Access
to Capital for Job Creators Act (H.R. 2940) , which would remove the ban on
general solicitation for securities offering conducted under Rule 506 of
I clearly remember first hearing about Groupthink when I
was in school. It was after the Challenger disaster in 1986. I must
have been about 10 years old at the time. The disaster was memorable for
me - I still recall watching the Challenger disaster...
New rules were just announced by US Citizen and
Immigration Services that are designed to make it easier for immigrants to form
startup companies in the US. As covered on The White House Blog , these rules would:
that immigrant entrepreneurs...
As the 1990s drew to a close Congress passed legislation
signed by the President ensuring the deregulation of the derivatives markets.
At the time CFTC Chairwoman Brooksley Born was one of the sole voices of
dissent. Less than ten years that dissent...
Fenwick & West LLP, a law firm that represents
emerging growth companies, has published a survey of seed financing transactions ,
comparing the terms of such deals in 2011 to 2010. The survey was based on 56
transactions closed in 2011 and 52 ...
by Phillip J. Kardis II, Robert K. Smith, and Barry Spatzer
Just as HOV lanes were created
to ease the commuting burden for those who meet certain requirements, the
recently enacted Jumpstart Our Business Startups ("JOBS") Act...
J. Kardis II , Robert K. Smith, and Barry Spatzer
On April 5, 2012, the President
signed into law the Jumpstart Our Business Startups (JOBS) Act (H.R. 3606),
which incorporates several initiatives aimed at easing the regulatory...