Banking and Finance

Recent Posts

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

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

Some Thoughts on Friends and Family Financing for Startups
Posted on 2 Mar 2012 by Arina Shulga

Many founders I speak with are interested in obtaining financing for their businesses first from their friends and family members, and then from professional investors. I agree, this seems to be the common path. However, many founders do not realize... Read More

Small Company Capital Formation Act of 2011 – Much Needed but At What Cost?
Posted on 6 Jun 2011 by Arina Shulga

There is a new bill in the House that aims to facilitate capital raising by private companies (H.R. 1070). The bill was introduced in March 2011 by Representative David Schweiker and is currently being considered by the House Committee on Financial... 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

Bill Creating Crowdfunding Exemption from Securities Registration Passes U.S. House of Representatives
Posted on 11 Nov 2011 by Alexander Davie

On November 3, 2011, the U.S. House of Representatives voted overwhelmingly to pass the Entrepreneur Access to Capital Act (H.R. 2930). The bill creates an exemption from the registration requirements of the Securities Act of 1933, adding a new Section... Read More

A Masterstroke of Some Kind: Crowdfunding and the JOBS Act
Posted on 17 Sep 2012 by Corporate and Securities Law Community Staff

"Everyone agrees the title was a work of pure genius," says Dick Phillips of K&L Gates in a recent podcast , referring to the Jumpstart Our Business Startups (JOBS) Act. "It's impossible to vote against in an election year."... Read More

Next Steps for the JOBS Act
Posted on 28 Mar 2012 by Doug Cornelius

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... Read More

Country Specific Issues in EB-5 Practice – China
Posted on 20 Jun 2012 by Yi Song

The People's Republic of China is one country that EB-5 practitioners and related EB5 professionals cannot afford to neglect. The top 5 countries [1] in 2012, for EB-5 alien entrepreneurs are: China, South Korea, Taiwan (region), Iran and Venezuela... 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 Advisory Group Recommends Private Placement Finders Be Exempted From Broker Registration
Posted on 24 Sep 2015 by David N. Feldman

Yesterday, the SEC’s Advisory Committee on Small and Emerging Companies, comprised of a number of smart and thoughtful people I know, made some terrific recommendations to the Commission. The biggest, something for which many have been waiting for... Read More

Crowdfunding Under the JOBS Act: The Bottom Line Impact on Private Equity Issuers and Market Intermediaries
Posted on 2 May 2012 by Corporate and Securities Law Community Staff

by Jonathan B. Wilson and Dianne L. Trenholm Excerpt: On April 5, 2012, President Obama signed the Jumpstart Our Business Startups Act (the "JOBS Act"), H.R. 3606, into law calling it "a potential game-changer" for startup... Read More

Lifting the Ban on General Solicitation
Posted on 5 Oct 2011 by Doug Cornelius

From a securities compliance perspective, when you see an advertisement or an email seeking capital for an investment opportunity there is most likely a problem. Now there is a bill in Congress that would change that view. When selling a security... Read More

Crowdfunding Bill Overwhelmingly Approved by House
Posted on 9 Nov 2011 by Andrew Ledbetter

Like other capital formation bills we've discussed , the House of Representatives has overwhelmingly approved (by a vote of 407-17) the "Entrepreneur Access to Capital Act," H.R. 2930 . Subject to certain limitations, H.R. 2930 would allow... Read More

Final Senate Version of Crowdfunding
Posted on 27 Mar 2012 by David N. Feldman

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... Read More