Microsoft Announces Entry into Cannabis Industry

In a move seen by many as a major positive for the burgeoning cannabis industry, Microsoft has publicly announced a partnership with a software company in the space. That company, Kind, has developed software that helps state governments track growers’ and sellers’ compliance with their rules. Microsoft will work with them on that venture. Kind

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Analysis of Court Ruling Upholding SEC Regulation A+ Rules

I have now had a chance to read the 23-page, very well-written, clear and concise DC Circuit court opinion on the Reg A+ challenge brought by two states. The ruling started with a brief history of securities law, how it started with the states but moved to add federal oversight after the 1929 market crash.

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Flash: Court Shoots Down State Challenge to Reg A+ Rules

Very good news: the DC Circuit today rejected the effort by two states (Massachusetts and Montana) to invalidate the SEC’s rules enacted to implement Regulation A+ and Title IV of the Jumpstart Our Business Startups (JOBS) Act of 2012. We are waiting to review the actual decision, but the court’s decision, written by Judge Karen

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Reg A+ Nears its Birthday

June 19 will be one year since the effectiveness of the SEC’s new rules on Regulation A+ under the Jumpstart our Business Startups (JOBS) Act of 2012. So what’s happened in the interim? According to information I very recently received: 99 deals filed, of which 55 were Tier II and 44 were Tier I (effectively under

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Moving Money vs. The Ultimate Sacrifice

We on Wall Street like to think we do important things. Some say it’s just moving money from one pocket to another. Others say we are helping finance the next cancer cure or solution to climate change or game-changing new technology. But in the end it all pales as against the life of the ordinary

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Nasdaq Rejects Cannabis Company

In a significant but not entirely unexpected or surprising blow to the cannabis industry, the Nasdaq stock market has decided to reject the attempt by MassRoots, a social networking site for cannabis enthusiasts, to list on their exchange. The reason: because they may be deemed to be aiding and abetting a federal crime in the distribution

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How to Modernize “Accredited”?

The SEC’s Advisory Committee on Small and Emerging Companies, co-led by Sara Hanks (left), met the other day to talk about how to update the definition of “accredited investor” following a detailed report issued by the SEC back in December. As we know, only accrediteds are permitted to invest in certain types of securities offerings.

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Statutory Crowdfunding Begins

It took four years since the passage of the Jumpstart our Business Startups (JOBS) Act, but it is finally here. Regulation Crowdfunding, approved by the SEC back in October, is now officially in effect. Companies can work with a broker-dealer or registered online portal to raise up to $1 million per year from an unlimited

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