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Department of Financial Protection and Innovation (DFPI) Reporting Requirements Venture Capital

BCLP

California Amends Its Sweeping Venture Capital Demographic Reporting Rule

BCLP on

Last year, as we previously reported, California Governor Newsom signed into law Senate Bill 54, Fair Investment Practices by Investment Advisers, which requires “covered entities,” defined as a “venture capital company” that...more

Cooley LLP

California’s Broad Venture Capital Diversity Reporting Law Amended to Now Take Effect in 2026

Cooley LLP on

As we previously reported, in October 2023, California enacted SB 54, a law requiring venture capital (VC) firms with a nexus to California to report data regarding the diversity of the founding members of the portfolio...more

Morrison & Foerster LLP

What's Changed in California's Diversity Reporting Law

Morrison & Foerster LLP on

On June 29, 2024, California Governor Gavin Newsom signed into law S.B. 164 (the “Diversity Reporting Law”), amending the previous version of the law that was adopted in 2023, S.B. 54. Please visit the following link for our...more

Allen Matkins

California Doubles Down On Problematic Venture Capital Reporting Law

Allen Matkins on

Given the importance of venture capital to California's economy, one might expect that state lawmakers would be keen to nurture the industry rather than enact laws that encourage venture capital companies to avoid the Golden...more

Allen Matkins

Why Is The DFPI Requesting Funding To Implement Venture Capital Funding Reporting Mandate?

Allen Matkins on

Last year, the California legislature enacted a bill, SB 54 (Skinner), that requires a "a venture capital" company to report annually to the Civil Rights Department on its funding determinations related to companies primarily...more

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