Purveyors of initial coin offerings (ICOs) received a strong lashing from the SEC yesterday in declaring that one particular ICO was a securities offering that should have been fully registered with the SEC or met with an exemption from registration. A very new and exploding...

Update August 1, 2017: The Financial Services Committee approved this bill on July 25, 2017 in a rare 59-0 vote. it now heads to the full House of Representatives. The House Financial Services Committee is considering a bill that would permit full SEC reporting companies to...

What a month this has been for those of us involved with the Reg A+ movement going back all the way to 2010. Although dozens of Reg A+ deals, raising hundreds of millions of dollars, had closed before this month, virtually none were trading their...

08 Apr

IPO alternatives appear to be alive and well as we learn from press reports that unicorn music service Spotify may go public through a "self-filing." In my first book, over 10 years ago, I talked at length about the potential value of this very straightforward...

05 Apr

Got your attention? No it's not April 1 anymore so this is serious. But actually no big deal. Last Friday the SEC adopted some rules mandated by the Jumpstart Our Business Startups (JOBS) Act of 2012. Among them: implementing the use of the term "emerging...

01 Apr

Believe it or not the Jumpstart Our Business Startups (JOBS) Act was signed into law on April 5, 2012. A great example of how the legislators, working with an administrative agency, can bring meaningful and substantive positive change. Enacted in the heat of a Congressional...