Recent Posts

5 Reasons SEC Regulation A+ Is Revolutionary
Posted on 26 Mar 2015 by David N. Feldman

March 25 was a significant day for the world of IPOs, small business and the small-cap markets. The SEC voted unanimously to adopt final rules implementing changes to Regulation A which were mandated by the Jumpstart our Business Startups (JOBS) Act of... Read More

Congress: Preempt All State Oversight of Public Offerings
Posted on 13 Mar 2015 by David N. Feldman

It started with the National Securities Markets Improvement Act of 1996 (lovingly known as “NSMIA” pronounced “nissmeeya”). That law said federal SEC oversight of public offerings on the major national exchanges is sufficient and... Read More

JOBS Act Provisions Fuel IPO Surge, Raise Concerns
Posted on 19 Sep 2014 by Kevin M. LaCroix

All eyes may be on the record-setting IPO of Chinese Internet firm, Alibaba, but the real IPO story for 2014 may be the significant number of IPOs this year involving smaller companies. The number of companies completing IPOs this year is on pace for... Read More

Massachusetts Sues SEC to Stop Regulation A+
Posted on 27 May 2015 by David N. Feldman

On the Friday before Memorial Day weekend, William Galvin, the Secretary of the Commonwealth of Massachusetts, filed a petition in Washington DC against the SEC requesting that the court stop the implementation and enforcement of the SEC’s changes... Read More

What to Watch in the World of D&O
Posted on 3 Sep 2014 by Kevin M. LaCroix

Every year just after Labor Day, I take a step back and survey the most important current trends and developments in the world of Directors’ and Officers’ liability and D&O insurance. This year’s survey is set out below. Once again... Read More

Go Twitter IPO!
Posted on 7 Nov 2013 by David N. Feldman

Social media giant Twitter starts trading following its IPO today. One hopes the lessons of the Facebook IPO debacle are learned. In fact Facebook is now trading $14 above its IPO price, after a very disappointing start. Plus Twitter is choosing a day... Read More

Reg D Proposals Soon?
Posted on 13 Aug 2012 by David N. Feldman

As we know, the Jumpstart Our Business Startups (JOBS) Act requires the SEC to promulgate new rules to eliminate the ban on general solicitation and advertising in Regulation D private offerings, so long as only accredited investors ultimately purchase... Read More

What Will Regulation S-K Study Show?
Posted on 24 Jul 2012 by David N. Feldman

As we know, the SEC is required by the Jumpstart our Business Startups (JOBS) Act to conduct a study of the key disclosure regime of the Securities Exchange Act of 1934, contained in Regulation S-K. Pretty much every SEC filing connects you to disclosure... Read More

WSJ on #JOBSAct and Shells
Posted on 8 Jun 2012 by David N. Feldman

On Monday, the Wall Street Journal reported that one of the apparently unintended consequences of the Jumpstart our Business Startups (JOBS) Act is that shells and SPACs can designate themselves as emerging growth companies with scaled back disclosure... Read More

Tags: Patel , JOBS Act

Tick Sizes to Remain Unchanged: SEC
Posted on 1 Aug 2012 by David N. Feldman

The SEC has now released its study, required by the Jumpstart our Business Startups (JOBS) Act, on whether tick sizes (the minimum allowed spread between bid and ask prices in trading) should be increased from the current one cent. They recommended not... Read More