New Cyber Security Disclosure Guidance from the SEC

by Vince Crisler Recent guidance from the SEC establishes new responsibilities for corporations. Public companies are expected to disclose all cyber security risks and cyber incidents that a reasonable investor would consider important in making an investment decision or if the information would...

Jon Jordan Renews the Call for a Compliance Defense to the FCPA

On Sunday, I witnessed true greatness. In the final at Wimbledon, Roger Federer won his record seventh singles title, equaling Pete Sampras and William Renshaw for this number of titles. He did this while beating Andy Murray, a Scot who the entire United Kingdom had embraced as its own throughout the...

SEC Misses Deadline to Issue Regulations Eliminating the General Solicitation Prohibition in Regulation D Private Placements

For startups looking to raise capital, Rule 506 of Regulation D is probably the most commonly used exemption from securities registration requirements. It allows a company to make offers and sales to an unlimited number of accredited investors[1] in order to raise an unlimited amount of money. One of...

SEC Continues to Miss Key Deadline in Implementing JOBS Act, Drawing Ire of Congress

The JOBS Act contained two provisions that have the potential to help startups in their capital-raising efforts: (1) reform of Regulation D, which will permit more widespread solicitation of angel investors (this is also frequently referred to as the repeal of the general solicitation prohibition) and...

The SEC (Finally) Issues a Preliminary Rule for Repeal of the Regulation D General Solicitation Requirements

Yesterday, the SEC finally released its proposed rule to amend Rule 506 of Regulation D to eliminate the general solicitation prohibition for private placement offerings . As I've discussed in a previous post, the SEC's continued delays in issuing this rule has resulted in considerable frustration...

John Brown's Raid and Building Trust in Compliance Programs

October 16 th is the anniversary of John Brown's Raid on Harper's Ferry. For those of you not familiar with this episode of American history, abolitionist John Brown led a raid on the US Arsenal at Harper's Ferry, Virginia, the raid was intended to foment an armed slave revolt in 1859. Brown's...