April 2012. That's when the Jumpstart our Business Startups (JOBS) Act was signed into law by Pres. Obama. The Act directed the SEC to make changes to Regulation A, as my faithful blogees should be well aware. In fairness, the Act did not give the...
Our law firm is a proud sponsor of next week's Growth Capital Expo at Caesar's Palace in the City of Lost Wages. We somewhat prophetically months ago planned for me to moderate a panel discussion on Regulation A+, clearly divining that the final rules would...
Today was a significant day for the world of IPOs, small business and the smallcap markets. The SEC voted unanimously to adopt final rules implementing changes to Regulation A which were mandated by the Jumpstart our Business Startups (JOBS) Act of 2012. It took awhile...
It has happened at last. Almost three years after passage of the Jumpstart Our Business Startups (JOBS) Act of 2012, the SEC is set to vote to finalize rules on so-called Regulation A+ expansion this Wednesday, March 25. As we have written often here, the...
Like the rise and fall of some Hollywood stars, the reverse merger has faced both criticism and popularity over the decades. Through the 2000s many of us successfully showed the market how these combinations into non-operating public vehicles (including special purpose acquisition companies, or SPACs),...
It started with the National Securities Markets Improvement Act of 1996 (lovingly known as "NSMIA" pronounced "nissmeeya"). That law said federal SEC oversight of public offerings on the major national exchanges is sufficient and the states do not also need to review, weigh in, and...
After a little political battle earlier in the month, the House of Representatives has now passed HR 37, which includes a voluntary exemption for "emerging growth companies" (mostly under $1 billion in revenues) to choose not to utilize Extensible Business Reporting Language (XBRL) for financial...
As I have for many years, last week I attended the annual SEC Government-Business Forum on Small Business Capital Formation. This Congressionally mandated event leads with a few panels followed by breakout discussion groups that develop formal recommendations to the SEC staff and commissioners to...
A fascinating recent piece in the New York Law Journal talks about the many dismissals of class action cases against US public companies based in China for alleged fraud. The cases say that because these companies' regulatory financial filings in China are sometimes different than the...
About a month ago, eight senior Democratic Senators (including Sen. Al Franken, above) wrote to SEC Chair Mary Jo White to oppose the SEC's proposed rules under the Jumpstart Our Business Startups (JOBS) Act of 2012 regarding Regulation A public offerings. In particular, the Senators...