News & Analysis as of

Broker-Dealer Capital Formation

Farrell Fritz, P.C.

Making Finders Keepers: Unregistered Broker-Dealers and the Need for Reform

Farrell Fritz, P.C. on

Identifying potential investors is one of the most difficult challenges facing early-stage companies.  The range of amounts sought at this stage is typically greater than what could be provided by the founders and friends and...more

Hinshaw & Culbertson LLP

New Proposed SEC Rule Would Allow Finders to Receive Commissions Without Registering as a Broker Dealer

In order to clarify various no action letters and court decisions, the Securities and Exchange Commission (SEC) has proposed an rule that would allow two classes of “finders” to avoid having to register as a broker-dealer or...more

Neal, Gerber & Eisenberg LLP

SEC Proposes Exemption for Certain Finders Assisting with Capital Raising

SEC Chairman Jay Clayton recently noted that: “Many small businesses face difficulties raising the capital they need to grow and thrive . . . [and] finders may play an important role in facilitating capital formation for...more

Farrell Fritz, P.C.

Proposed Expansion of “Accredited Investor” Definition Would Benefit Issuers and Investors

Farrell Fritz, P.C. on

The Securities and Exchange Commission is proposing to expand the definition of “accredited investor” to include additional entities that could bear the economic risks of investment and certain financially sophisticated...more

Troutman Pepper

Investment Management Update - July 2019

Troutman Pepper on

Covering legal developments and regulatory news for registered funds, their advisers and industry participants through June 30, 2019. Auditor Independence With Respect to Certain Loans or Debtor-Creditor Relationships - On...more

Mayer Brown Free Writings + Perspectives

SEC Publishes 2018 Government-Business Forum Final Report

The Securities and Exchange Commission recently released the final report from the 2018 Government-Business Forum on Small Business Capital Formation. The report highlights the recommendations of attendees in ranked order...more

Morrison & Foerster LLP - Structured Products

Structured Thoughts: News for the Financial Services Community, Volume 10, Issue 3

In this issue of Structured Thoughts, we discuss: ..New Regulation Best Interest, and its impact on the structured products market. ..The SEC’ June 2019 request for comment on simplifying, harmonizing and improving the...more

Broker-Dealer Compliance + Regulation

FINRA Provides Preview of 2018 Rulemaking Activity

In a December 20, 2017 press release, FINRA announced that, at its final Board of Governors meeting for 2017, it approved the filing of several proposed amendments to its rules. The rule proposals will include the...more

Katten Muchin Rosenman LLP

Bridging the Week - November 2015

SEC to Permit Capital Raising Through Crowdfunding: The Securities and Exchange Commission finalized rules that will permit eligible companies to raise money through Internet offerings of their securities—a practice known as...more

Dorsey & Whitney LLP

SEC’s Crowdfunding Rules

Dorsey & Whitney LLP on

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...more

Katten Muchin Rosenman LLP

SEC Advisory Committee on Small and Emerging Companies Makes Recommendations

On September 23, the Securities and Exchange Commission Advisory Committee on Small and Emerging Companies (Advisory Committee) met to discuss, and submit to the SEC, recommendations regarding (1) public company disclosure...more

Morrison & Foerster LLP - JOBS Act

Advisory Committee on Small and Emerging Companies Makes Three Written Recommendations to SEC

It was a productive morning at the last meeting of its current term for the SEC Advisory Committee on Small and Emerging Companies. The Committee, which has been renewed for two more years, approved three recommendations to...more

Shumaker, Loop & Kendrick, LLP

“Notable By Their Absence: Finders And Other Financial Intermediaries In Small Business Capital Formation”

Small businesses are often regarded as the catalyst for economic growth in the United States. Small businesses account for the creation of two-thirds of all new jobs, and are the incubators of innovation. The majority of...more

Latham & Watkins LLP

Coming to America – A Guide for FPIs

Latham & Watkins LLP on

In this Issue: - The Latham FPI Guide: Accessing the US Capital Markets From Outside the United States - Chapter 1: Background - Chapter 2: Unregistered Global Offerings – Regulation S, Rule 144A and...more

Morrison & Foerster LLP - JOBS Act

Matchmaking Basics: How it Works, Current Regulations and Key Considerations

Background - “Matchmaking sites,” also referred to as “matchmaking platforms,” have come to play a more significant role in capital formation in recent years. A matchmaking site generally relies on the Internet in...more

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