Congress has had some good blood flow this month when it comes to smaller public companies and small business. On top of the FAST Act bill we reported on yesterday, the House Financial Services Committee has now approved six new bills on a strongly bipartisan...
Updated 2:39pm on 12-9-2015 They got tucked into a transportation bill (Fixing America's Surface Transportation Act or the FAST Act), but with a deft set of amendments the Reforming Access for Investments in Startup Enterprises Act of 2015 (or the RAISE Act) and other small business initiatives...
As I have for many years, last week I attended the SEC's annual business conference on smaller companies in our nation's capital. Always love my trips to DC- I especially liked when my breakfast waiter called me Senator (flattery gets you a good tip)! Now...
An already controversial part of the New York General Corporation Law, Section 630, makes the largest 10 shareholders of private New York corporations personally liable to employees if the company does not pay their wages. The provision has been around since the 1800s and was...
Many of us are very lucky. We have our health, loving family, great friends, challenging career. But we also all have stuff. Stuff life throws us. Too often we forget to take for granted the good and dwell too much on those things we cannot...
I'm a big advocate of de-legalease-ing as much as we lawyers can. If a party to an agreement doesn't really understand what they are signing, or an investor in a securities offering can't digest what is in offering materials because the language is too complex,...
While not attracting the glitzy headlines they once did, special purpose acquisition companies (SPACs) have surged strongly in the last few years. These public shell companies raise substantial amounts of cash in anticipation of a merger with a private business needing the cash and a...
Last week the SEC announced it is allowing the national securities exchanges to wait until October 2016 to implement its highly vaunted tick size pilot program. Originally the plan was to commence in May, but the SEC feels the exchanges (and FINRA) need more time...
A series of questions comes with the news last week that for the third time in the last year a well-known microcap securities lawyer has been arrested and charged with securities fraud. What is the responsibility of an attorney representing a public company or investors...
I call it "the List." Probably because that's what it is, the list of recommendations that those of us in the private sector make to the SEC at the annual Government-Business Forum on Small Business Capital Formation. The SEC is mandated by statute to hold...