On July 26, 2023, the Securities and Exchange Commission (“SEC”), in a 3-2 vote, issued a release (the “Release”) containing proposed rules to address conflicts of interest associated with broker dealers’ and investment...more
9/14/2023
/ Artificial Intelligence ,
Broker-Dealer ,
Comment Period ,
Conflicts of Interest ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investors ,
Policies and Procedures ,
Predictive Analytics ,
Proposed Rules ,
Recordkeeping Requirements ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Technology
The U.S. Securities and Exchange Commission (“SEC”) is paying considerable attention to the world of cryptocurrency (“crypto”). According to the SEC website, the SEC has brought more than 50 enforcement actions against crypto...more
7/19/2023
/ Bitcoin ,
Blockchain ,
Buyers ,
Coinbase ,
Crypto Exchanges ,
Cryptocurrency ,
Digital Assets ,
Digital Platforms ,
Enforcement Actions ,
Investment Platforms ,
Popular ,
Ripple ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Securities Regulation ,
Securities Violations ,
Sellers ,
Token Sales ,
Unregistered Securities
College athletics — more specifically, college football — has become a media behemoth over the past two decades. Competition has always been fierce on the field, but with millions of dollars in broadcasting revenue in the...more
6/22/2023
/ College Athletes ,
Colleges ,
Compensation ,
Football ,
Media ,
NCAA ,
Professional Conferences ,
Revenue ,
School Sports ,
Sports ,
Student Athletes
Much like the beginning of 2023, when two new state data privacy acts went into effect, the midpoint of 2023 will feature two more state data privacy acts coming onto the books. On July 1, 2023, the Colorado Privacy Act...more
6/13/2023
/ Business Strategies ,
Covered Entities ,
Data Collection ,
Data Privacy ,
Data Protection Acts ,
Data Protection Impact Assessments (DPIAs) ,
Data Selling ,
Data-Sharing ,
Disclosure ,
New Legislation ,
Personal Data ,
Privacy Acts ,
Privacy Laws ,
Privacy Policy ,
State and Local Government ,
State Legislatures ,
State Privacy Laws
The world’s ever-changing technological landscape has led to the formation of new mediums of creativity — mediums that the sports and entertainment industry cannot ignore. Digital currencies, virtual universes, and enhanced...more
5/16/2023
/ Advertising ,
Athletes ,
Bitcoin ,
Celebrity Endorsements ,
Cryptocurrency ,
Digital Assets ,
Digital Currency ,
Disclosure ,
Enforcement ,
Entertainment Industry ,
Fines ,
Influencers ,
Initial Coin Offering (ICOs) ,
Internet Marketing ,
Marketing ,
Misrepresentation ,
Mobile Apps ,
Securities ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Social Media ,
Sports ,
Technology ,
Token Sales
On March 29, 2023, a new exemption from SEC registration for brokers providing services in mergers and acquisitions (“M&A”) transactions officially went into effect. The exemption, outlined in Section 501 of the Consolidated...more
4/10/2023
/ Acquisitions ,
Broker-Dealer ,
Brokers ,
Buyers ,
Change in Ownership ,
Consolidated Appropriations Act (CAA) ,
EBITDA ,
Exemptions ,
Mergers ,
NASAA ,
No-Action Letters ,
Privately Held Corporations ,
Registration ,
Registration Requirement ,
Section 501 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Sellers
Earnout provisions can be an effective tool for addressing the potential disconnect between a seller’s expectations and a buyer’s ability to pay when negotiating a business combination transaction. Earnout provisions, or...more
3/8/2023
/ Acquisitions ,
Buyers ,
Contract Drafting ,
Contract Negotiations ,
Earn-Outs ,
M&A Brokers ,
Mergers ,
Purchase Agreement ,
Purchase Price ,
Risk Mitigation ,
Sellers ,
Selling a Business
In his State of the Union address on February 7, 2023, President Biden affirmed his position on consumer data privacy protections and specifically his focus on strengthening protections for children. With several state data...more
3/6/2023
/ Biden Administration ,
California Consumer Privacy Act (CCPA) ,
California Privacy Rights Act (CPRA) ,
Children's Online Games ,
Children's Products ,
Consumer Protection Act ,
COPPA ,
Data Collection ,
Data Privacy ,
Data Protection ,
Data Protection Impact Assessments (DPIAs) ,
Data Protection Principles ,
Deadlines ,
Legislative Agendas ,
Mobile Apps ,
New Legislation ,
Online Platforms ,
Online Safety for Children ,
Personal Data ,
Privacy Disclosures ,
Privacy Laws ,
Proposed Legislation ,
Proposed Regulation ,
Proposed Rules ,
State and Local Government ,
State Data Privacy Laws ,
State Privacy Laws
The start of 2023 has brought with it significant changes to data privacy – new state laws concerning data privacy came into effect January 1 (the California Privacy Rights Act and the Virginia Consumer Data Protection Act),...more
1/26/2023
/ Business Litigation ,
Compliance ,
Data Privacy ,
Data Protection ,
Department of Health and Human Services (HHS) ,
Enforcement Actions ,
Failure to Comply ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Healthcare ,
HIPAA Privacy Rule ,
Litigation Fees & Costs ,
Medical Records ,
OCR ,
Penalties ,
Personal Data ,
Privacy Notice Rule ,
State and Local Government ,
State Privacy Laws ,
User Agreements
In a matter of months, several well-known individuals in real estate have been convicted of and/or charged with fraud or similar crimes relating to the theft of client funds. The summary below highlights a few of those cases...more
11/30/2022
/ Bank Fraud ,
Client Funds ,
Criminal Conspiracy ,
Criminal Prosecution ,
Financial Fraud ,
Fraud ,
Investment Schemes ,
Lenders ,
Mortgages ,
Popular ,
Real Estate Market
The U.S. Supreme Court’s landmark decision, NCAA v. Alston, which was decided in July of 2021, opened the door for student-athletes to profit off their name, image, and likeness, or “NIL.” The Court, affirming the Ninth...more
10/28/2022
/ Alston v NCAA ,
Antitrust Division ,
Antitrust Violations ,
Compensation ,
Final Rules ,
Interim Guidance ,
Name and Likeness ,
NCAA ,
SCOTUS ,
State and Local Government ,
Student Athletes
One of the most overlooked and problematic issues concerning capital raising by small businesses, venture capital funds, and private equity funds is the use of “finders” to assist issuers with raising capital. Those who act...more
9/15/2022
/ Broker-Dealer ,
Capital Raising ,
Corporate Issuers ,
Finders ,
Investment ,
Investors ,
Private Equity ,
Regulatory Requirements ,
Safe Harbors ,
Securities and Exchange Commission (SEC) ,
Transaction-Based Compensation ,
Unregistered Brokers ,
Venture Capital