Securities

Recent Posts

Employer Social Media Policies, Cyber Security and Other Web Notes
Posted on 25 Sep 2012 by Kevin M. LaCroix

As the various forms of social media have become increasingly pervasive, employers have struggled with appropriate responses to employees' use of the social media sites. One question in particular that has arisen is the extent to which employers can... Read More

The SEC’s Frequently Asked Questions Regarding the Broker-Dealer Registration Exemption
Posted on 8 Apr 2013 by Arina Shulga

The legal world is patiently waiting for the Securities and Exchange Commission (the "SEC") to enact rules implementing Title II of the JOBS Act. One of the recent developments in this field is the issuance by the SEC Staff of frequently... Read More

Twitter Files Confidentially for IPO
Posted on 13 Sep 2013 by David N. Feldman

Social media company Twitter has filed a registration statement with the SEC to go public in an IPO. They told the world about it, of course, in a tweet. What’s interesting is that the company, with over 200 million users, chose to file confidentially... Read More

This Week In Securities Litigation (Week ending August 31, 2012)
Posted on 5 Sep 2012 by Thomas O. Gorman

As summer draws to a close, the Commission continued its work under Dodd-Frank, issuing a staff study on financial literacy. It focuses on what investors want to know about financial professionals and investment products. Proposed rules were also issued... Read More

Dem. Senators Oppose Blue Sky Preemption in Regulation A+
Posted on 11 Sep 2014 by David N. Feldman

About a month ago, eight senior Democratic Senators (including Sen. Al Franken, above) wrote to SEC Chair Mary Jo White to oppose the SEC’s proposed rules under the Jumpstart Our Business Startups (JOBS) Act of 2012 regarding Regulation A public... Read More

Concerns About Crowdfunding
Posted on 29 Aug 2012 by Kevin M. LaCroix

Among the more noteworthy aspects of the recently enacted Jumpstart Our Business Startups (JOBS) Act are the legislation's crowdfunding provisions. These provisions are intended to allow small businesses a new means of raising funds directly from... Read More

SEC Commissioner Stein on Capital Formation
Posted on 10 Mar 2015 by Thomas O. Gorman

Capital formation is one of the primary missions of the SEC. Commissioner Kara Stein recently discussed this basic SEC mission in remarks delivered at the Stanford Rock Center for Corporate Governance, Stanford Law School (here), outlining several new... Read More

SEC’s Crowdfunding Rules
Posted on 2 Nov 2015 by Thomas O. Gorman

Crowdfunding is a popular and controversial form of selling securities using the internet. Prior to the passage of the JOBS Act, which was designed to facilitate capital formation for small companies, such sales generally would have been required to comply... Read More

A Caution About The Lack of Information in Pre-IPO Markets
Posted on 26 Sep 2012 by Thomas O. Gorman

The pre-IPO market in which shares of emerging companies are often available has been a key focus in recent months. Congress, for example, passed the JOBS Act earlier this year which, of course, has little to do directly with jobs and a lot to do with... Read More