Banking and Finance

Recent Posts

Rule 506(d) “Bad Actor” Disqualifications: Who’s a Bad Actor and Why are They Bad? - Part I
Posted on 22 Jul 2015 by Arina Shulga

Rule 506 is by far the most widely used Regulation D exemption for conducting private placements. According to the SEC, about 90-95% of all private placements are conducted pursuant to Rule 506. This Rule permits sales of an unlimited dollar amount of... 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

Ban on General Solicitation in Private Offerings Ends September 23, 2013
Posted on 12 Aug 2013 by David N. Feldman

It’s official. The new SEC rules ending the ban on advertising and general solicitation in Regulation D private securities offerings to accredited investors were published in the US Federal Register on July 24. They are effective 60 days later,... Read More

Duane Morris Alert: SEC Proposes Disqualifying "Bad Actors" from Rule 506 Offerings
Posted on 10 Jun 2011 by Duane Morris LLP

Proposed "bad actor" rules are likely to increase the risks and costs associated with Rule 506 offerings. The U.S. Securities and Exchange Commission (SEC) has announced proposed rules 1 that would deny the safe-harbor exemption provided... Read More

Amending the Ban on General Solicitation and Advertising
Posted on 20 Jan 2012 by Doug Cornelius

There seems to be some momentum for changes to the Regulation D's prohibition on advertising a private fund offering. The Managed Funds Association has asked the SEC to start a rulemaking and one of the SEC's new advisory committees has also... Read More

Should Private Funds Be Exempt from the Ban on General Solicitation?
Posted on 27 Jan 2012 by Alexander Davie

The Managed Funds Association recently submitted a comment letter to the Securities and Exchange Commission dated January 6, 2012 requesting the SEC to amend Rule 502(c) of Regulation D to exempt private funds, such as hedge funds, private equity funds... Read More

Overview of Proposed SEC Crowdfunding Rules
Posted on 24 Oct 2013 by Trent Dykes

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... Read More

What Does the Future Hold for Crowdfunding Legislation?
Posted on 18 Nov 2011 by Alexander Davie

Previous, I summarized the Entrepreneur Access to Capital Act (H.R. 2930) , a bill which provides for a crowdfunding exemption to the registration requirements of federal and state securities laws. The bill was recently passed by the U.S. House of... 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 in Private Capital Raising – Opening Up General Solicitation and General Advertising
Posted on 26 Aug 2015 by Sands Anderson PC

by David Carroll The next few years may be the largest watershed event in opening up private equity capital since the 1980s when Regulation D was first published by the Securities and Exchange Commission (“SEC”). By allowing general solicitation... Read More