Banking and Finance

Recent Posts

Regulation A+ Proposal: State Preemption Critical
Posted on 24 Jan 2014 by David N. Feldman

The North American Securities Administrators Association (NASAA, not to be confused with the space agency) is pushing to allow states to have a chance to complete a merit-based review of offering documents under the newly proposed Regulation A+ (see prior... Read More

SEC Releases Proposed Crowdfunding Rules
Posted on 24 Oct 2013 by Kevin M. LaCroix

On October 23, 2013, the SEC finally approved (unanimously) and released for public comment the proposed rules implementing the crowdfunding provisions of the JOBS Act. The rules will not become effective, subject to any revisions, until the end of a... Read More

Let’s Give Title III Crowdfunding a Chance
Posted on 4 Nov 2015 by David N. Feldman

It was in many ways the centerpiece of the Jumpstart Our Business Startups (JOBS) Act of 2012. At the signing ceremony all the President could talk about was the idea of “bringing Wall Street to Main Street.” And while the JOBS Act has many... Read More

Crowdfunding and EB-5: What Insights do the New SEC Rules Offer for EB-5 Practice?
Posted on 8 Nov 2013 by Yi Song

On October 24, 2013 the Securities and Exchange Commission (SEC) released the proposed rules governing crowdfunding, which is an evolving method of raising capital through Internet and social media websites. Title III of the “Jumpstart Our Business... Read More

What the JOBS Act Means for Private Offerings
Posted on 17 Jul 2012 by K & L Gates LLP

by David Mishel, Nicholas S. Hodge, Kay Gordon, Yusef Alexandrine, and Remsen M. Kinne IV The JOBS Act contains number of provisions that will directly impact private funds, their advisers, and broker-dealers that participate in private fund offerings... Read More

First Enforcement Action Taken Against Crowdfunding Site
Posted on 18 Sep 2013 by Alexander Davie

For the first time, regulators are taking action against one of the many crowdfunding sites that have sprung up since the passage of the JOBS Act. The Ohio Division of Securities issued a notice of intent to issue a cease-and-desist order against the... Read More

SEC Chair White: Move on New Regulation D Proposal
Posted on 23 Oct 2013 by David N. Feldman

As many know, when the SEC passed rules allowing companies and private funds to use general solicitation and advertising in certain private securities offerings as mandated by the Jumpstart Our Business Startups (JOBS) Act, they also proposed a series... Read More

JOBS Act SEC Proposed Rules: Solicitation & Advertising for Private Offerings
Posted on 15 Nov 2012 by Perkins Coie

by Karl J. Ege, Mel Wheaton, Danielle Benderly, and James T. Carroll Excerpt: The SEC recently issued long-awaited proposed rules to remove existing general solicitation and advertising prohibitions for private offerings and sales of securities... Read More

SEC Issues Investor Bulletin on Regulation A+
Posted on 14 Jul 2015 by David N. Feldman

Last week the US Securities and Exchange Commission issued an “investor bulletin” about its amendments to Regulation A made under the Jumpstart Our Business Startups (JOBS) Act of 2012. The introduction to the bulletin makes clear the changes... Read More

JOBS Act 2.0 Bills Officially Pass House Committee
Posted on 3 Jun 2014 by David N. Feldman

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... Read More

State Challenges of Reg A+ Move Ahead
Posted on 9 Sep 2015 by David N. Feldman

As reported by Crowdfund Insider , Massachusetts and Montana filed their first “Opening Brief” in their case against the SEC trying to invalidate the regulations passed under Regulation A pursuant to the Jumpstart Our Business Startups (JOBS... Read More

SEC Delays Rules on Key EB-5 Section in JOBS Act
Posted on 11 Dec 2012 by Yi Song

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... Read More

The JOBS Act After One Year
Posted on 3 Apr 2013 by Kevin M. LaCroix

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... 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