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JOBS Act: What Matters Most for Startups and VCs
Posted on 14 Jun 2012 by Trent Dykes

The Jumpstart Our Business Startups Act (the JOBS Act), enacted in April this year, makes a variety of significant changes to securities laws, some of which relate to early-stage entrepreneurs, startup companies and venture capitalists concerned about... Read More

The JOBS Act, a Year Later – Part 7: Titles V and VI and Concluding Thoughts
Posted on 17 Jun 2013 by Alexander Davie

This post is the seventh and final in a series examining the impact of the Jumpstart Our Business Startups Act (or JOBS Act) one year after its passage and focuses on Titles V and VI of the law and provides some final concluding thoughts. Titles... Read More

EB-5 Practice under the JOBS Act
Posted on 25 Jul 2012 by Yi Song

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 solicitation... Read More

New Era of Capital Raising: Sorting Through the JOBS Act’s New Capital Raising Rules
Posted on 24 Jul 2015 by Sands Anderson PC

by David Carroll Since the enactment of the Jumpstart Our Business Startups Act (the “JOBS Act” ) in 2012, the Securities and Exchange Commission (“ SEC “) has slowly been making its way through the titles to the JOBS Act to... Read More

The SEC on Capital Formation: Graded Incomplete – Commissioner Gallagher
Posted on 9 Apr 2015 by Thomas O. Gorman

Last year the IPO market was overheating – a record number of initial offerings were conducted. Nevertheless, SEC Commissioner Daniel Gallagher gives the SEC a grade of “incomplete” in the area of capital formation in recent remarks... Read More

Which Crowdfunding is Which? A Primer
Posted on 25 Mar 2014 by David N. Feldman

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... Read More

EB-5 Practice under SEC Proposed Rules to Implement the JOBS Act
Posted on 12 Oct 2012 by Yi Song

Regional Centers [1] lawfully raise capital within the EB-5 Program [2] pursuant to one or more exemptions from registration set forth in the United States securities laws. The most commonly utilized exemptions in EB-5 offerings are Regulation D ... Read More

SEC Crowdfunding Rule Proposal to be Announced Next Week
Posted on 21 Oct 2013 by David N. Feldman

Bloomberg reports today that the SEC plans to announce long-awaited proposed rules on “crowdfunding” next week. There is no notice yet on the SEC website, but apparently the news outlet heard from those in the know. The Jumpstart our Business... Read More

The JOBS Act, a Year Later – Part 6: Regulation A+
Posted on 11 Jun 2013 by Alexander Davie

This post is the sixth in a series examining the impact of the Jumpstart Our Business Startups Act (or JOBS Act) one year after its passage and focuses on the provision instructing the SEC to create a new securities registration exemption commonly... Read More

Strong SEC Small Business Forum
Posted on 25 Nov 2014 by David N. Feldman

As I have for many years, last week I attended the annual SEC Government-Business Forum on Small Business Capital Formation. This Congressionally mandated event leads with a few panels followed by breakout discussion groups that develop formal recommendations... Read More

General Solicitation Restrictions for Private Placement Issuers
Posted on 22 Sep 2015 by Arina Shulga

On August 6, 2015, the Securities and Exchange Commission (the "SEC") issued a number of Compliance and Disclosure Interpretations (" CDIs ") related to the issue of “general solicitation” (or “general advertising”... Read More

Frequently Asked Questions About Regulation A+
Posted on 6 Jul 2015 by Alexander Davie

Back in March, I wrote about proposed revisions to Regulation A , commonly known as “Regulation A+”, which were designed to implement Section 401 of the Jumpstart Our Business Startups Act (JOBS Act). Since then, the SEC issued its final rule... Read More

Yes, Consumer, Real Estate, and Business Finance Companies, You Too Can Take the IPO On-Ramp
Posted on 17 Jul 2012 by K & L Gates (John W. Rotunno et al.)

by Phillip J. Kardis II, Robert K. Smith, and Barry Spatzer Excerpt: 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... Read More

Demo Days, Pitch Events and the New Reg D
Posted on 25 Sep 2013 by Trent Dykes

by Trent Dykes , Megan Muir and Kiran Lingam I. Introduction / Background With the passage of the JOBS Act, the regulation governing most private securities offerings is undergoing a dramatic makeover. Congress tasked the Securities and Exchange... Read More

Lifeline or Rising Tide? Understanding Emerging Growth Companies under the JOBS Act
Posted on 15 Apr 2013 by Corporate and Securities Law Community Staff

Laws don't often get their own parties. But for the irresistibly named Jumpstart Our Business Startups (JOBS) Act, President Obama held a rare public ceremony in the White House's Rose Garden in its honor. Even more notably, this party was quite... Read More

  • Blog Post: JOBS Act: What Matters Most for Startups and VCs

    The Jumpstart Our Business Startups Act (the JOBS Act), enacted in April this year, makes a variety of significant changes to securities laws, some of which relate to early-stage entrepreneurs, startup companies and venture capitalists concerned about fund raising with respect to their portfolio companies...
  • Blog Post: JOBS Act Heralds New Era for Startup and Emerging Growth Company Financing

    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 some of the most significant changes to the U...
  • Blog Post: Yes, Consumer, Real Estate, and Business Finance Companies, You Too Can Take the IPO On-Ramp

    by Phillip J. Kardis II, Robert K. Smith, and Barry Spatzer Excerpt: 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 created the "IPO On-Ramp" to ease the...
  • Blog Post: EB-5 Practice under the JOBS Act

    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 solicitation and general advertising under Regulation...
  • Blog Post: Capital Markets Relief: JOBS Act Eases Regulatory Barriers to IPOs and Other Capital Raising Alternatives

    by Phillip J. Kardis II , Robert K. Smith, and Barry Spatzer Excerpt: 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 burdens of traditional IPOs and private placements...
  • Blog Post: EB-5 Practice under SEC Proposed Rules to Implement the JOBS Act

    Regional Centers [1] lawfully raise capital within the EB-5 Program [2] pursuant to one or more exemptions from registration set forth in the United States securities laws. The most commonly utilized exemptions in EB-5 offerings are Regulation D (the Private Placement exemption) and Regulation S...
  • Blog Post: SEC Delays Rules on Key EB-5 Section in JOBS Act

    When the JOBS Act was enacted in April 2012, it raised a significant amount of excitement in the EB-5 community. At the time, there was a general consensus that the Act could change the landscape of EB-5 private offerings. However, the Securities and Exchange Commission's (SECs) indefinite delay...
  • Blog Post: The JOBS Act After One Year

    A year ago, President Obama signed the Jumpstart Our Business Startups (JOBS) Act, a legislative product of rare bipartisan collaboration that was intended to improve employment and make it easier for smaller firms to raise private equity. (For an overview of the Act's provisions, refer here...
  • Blog Post: Lifeline or Rising Tide? Understanding Emerging Growth Companies under the JOBS Act

    Laws don't often get their own parties. But for the irresistibly named Jumpstart Our Business Startups (JOBS) Act, President Obama held a rare public ceremony in the White House's Rose Garden in its honor. Even more notably, this party was quite bipartisan-Republican House Majority Leader...
  • Blog Post: The JOBS Act, a Year Later – Part 4: Online Angel Investment Platforms

    This post is the fourth in a series examining the impact of the Jumpstart Our Business Startups Act (or JOBS Act) one year after its passage and focuses on the provisions related to online angel investment platforms. In the last post of this series , I discussed the progress of implementing the...
  • Blog Post: Crowdfunding Update for May 2013

    We are still patiently waiting for the SEC to develop rules implementing the crowdfunding provisions of the JOBS Act. While we are waiting, the industry prepares for the crowdfunding transactions. Recently, two interesting articles about crowdfunding caught my attention. First, thecrowdcafe.com...
  • Blog Post: The JOBS Act, a Year Later – Part 5: Crowdfunding

    This post is the fifth in a series examining the impact of the Jumpstart Our Business Startups Act (or JOBS Act) one year after its passage and focuses on the provisions related to crowdfunding. Previously in this series, I discussed the progress of implementing the JOBS Act, specifically Titles...
  • Blog Post: The JOBS Act, a Year Later – Part 6: Regulation A+

    This post is the sixth in a series examining the impact of the Jumpstart Our Business Startups Act (or JOBS Act) one year after its passage and focuses on the provision instructing the SEC to create a new securities registration exemption commonly known as "Regulation A+." Previously...
  • Blog Post: The JOBS Act, a Year Later – Part 7: Titles V and VI and Concluding Thoughts

    This post is the seventh and final in a series examining the impact of the Jumpstart Our Business Startups Act (or JOBS Act) one year after its passage and focuses on Titles V and VI of the law and provides some final concluding thoughts. Titles V and VI of the JOBS Act are closely related in ...
  • Blog Post: Demo Days, Pitch Events and the New Reg D

    by Trent Dykes , Megan Muir and Kiran Lingam I. Introduction / Background With the passage of the JOBS Act, the regulation governing most private securities offerings is undergoing a dramatic makeover. Congress tasked the Securities and Exchange Commission (SEC) with developing new rules allowing...
  • Blog Post: SEC Crowdfunding Rule Proposal to be Announced Next Week

    Bloomberg reports today that the SEC plans to announce long-awaited proposed rules on “crowdfunding” next week. There is no notice yet on the SEC website, but apparently the news outlet heard from those in the know. The Jumpstart our Business Startups (JOBS) Act of 2012 mandated that the...
  • Blog Post: Overview of Proposed SEC Crowdfunding Rules

    by Trent Dykes and Nathan Luce Earlier today, the Securities and Exchange Commission (SEC) took an important step in making securities-based crowdfunding a reality for many small companies with the release of its proposed rules governing crowdfunding. The proposed rules, called “Regulation Crowdfunding...
  • Blog Post: M&A Brokers Closer to Congressional Relief

    As reported by my friend and attorney Scott Gluck, the House last week started hearings on the next generation of JOBS-type relief for smaller companies, fashioned after the original Jumpstart Our Business Startups (JOBS) Act of 2012. The “JOBS 2.0″ hearing discussed a number of different...
  • Blog Post: Thoughts on the Proposed Crowdfunding Regulations

    On October 23, 2013, the Securities and Exchange Commission issued proposed regulations to implement Title III of the JOBS Act, which will allow for the public sale of securities using crowdfunding under an exemption from registration under securities laws. Since it has been some time since the regulations...
  • Blog Post: Which Crowdfunding is Which? A Primer

    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 sentences so you can keep a scorecard: Kickstarter...
  • Blog Post: House Committee Starts Exciting Work on JOBS 2.0

    A key subcommittee of the US House Financial Services Committee has announced a hearing tomorrow morning to begin consideration of a group of 7 bills that could coalesce into a large initiative to benefit small businesses and smaller public companies. Some are saying this, along with a previous bill...
  • Blog Post: JOBS Act 2.0 Bills Officially Pass House Committee

    It took until just before Memorial Day, but apropos timing as the House Financial Services Committee, on May 22, officially approved 11 bills to help small businesses with capital formation and growth. Many on the Hill are fashioning this group of bills JOBS Act 2.0, as a natural follow to the Jumpstart...
  • Blog Post: Strong SEC Small Business Forum

    As I have for many years, last week I attended the annual SEC Government-Business Forum on Small Business Capital Formation. This Congressionally mandated event leads with a few panels followed by breakout discussion groups that develop formal recommendations to the SEC staff and commissioners to improve...
  • Blog Post: State Crowdfunding Surges Ahead

    Let’s give one to the states. Often in their attempt to regulate securities offerings we find states a source of delay and frustration. However, given the snail’s pace at which the SEC is implementing crowdfunding rules mandated by the Jumpstart our Business Startups (JOBS) Act of 2012, many...
  • Blog Post: The SEC on Capital Formation: Graded Incomplete – Commissioner Gallagher

    Last year the IPO market was overheating – a record number of initial offerings were conducted. Nevertheless, SEC Commissioner Daniel Gallagher gives the SEC a grade of “incomplete” in the area of capital formation in recent remarks. Commissioner Daniel M. Gallagher, “Grading...