Banking and Finance

Recent Posts

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

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

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

More Calls to Relax General Solicitation Rules in Private Offerings
Posted on 19 Jan 2012 by Andrew Ledbetter

In addition to legislative initiatives we've previously discussed, we continue to see efforts to relax the general solicitation prohibition in private offerings. For example, the SEC's Advisory Committee on Small and Emerging Companies recently... Read More

AngelList Posts Thoughtful Comments to Proposed SEC Form D Regulations
Posted on 29 Aug 2013 by Alexander Davie

On August 12, 2013, the crowdfunding platform AngelList submitted some really great and thoughtful comments to the SEC with respect to the SEC’s proposed Reg. D amendments related to new Form D filing requirements and enhanced penalties for failure... 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

Conducting General Solicitation under the New SEC Rules in EB-5 Practice
Posted on 27 Sep 2013 by Yi Song

Ever since the Securities and Exchange Commission (SEC) lifted the ban this July on general solicitation pursuant to the Jumpstart Our Business Startups Act (JOBS Act), it was expected that the threshold for disclosure would be raised. What does this... Read More

SEC Provides Interpretations on Rule 506(c)
Posted on 20 Nov 2013 by Andrew Ledbetter

As we’ve previously blogged , in July 2013 the SEC adopted rules that permit general solicitation and general advertising in connection with certain offerings of securities to accredited investors. Yesterday, to help the markets understand some... 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

Citizen VC No-Action Letter - the SEC Guidance on Online Private Placements
Posted on 17 Sep 2015 by Arina Shulga

As a follow up to my previous blog post where I discussed the new CDIs relating to the definition of "general solicitation" in private offerings conducted under Rule 506(b), I decided to discuss the recently issued SEC no-action letter to Citizen... Read More