The SEC released proposed rules required by the Dodd-Frank Act a few weeks ago. The proposal, if adopted, would require public companies to compare senior executives' compensation with the actual performance of the company, measured by a shareholder return metric. "Emerging growth companies" (EGCs) will...
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...
I'm attending a fascinating conference today sponsored by my alma mater, the Wharton School, and chaired by a good friend, on business opportunities in Cuba. This follows President Obama's December 2014 announcement to begin normalizing relations with Cuba, improve travel and commerce opportunities and remove...
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...
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...
Two good friends and clients of mine run a rapidly growing social media agency. They work mostly with companies with consumer-driven products but also a number who sell business to business. There are still some in my worlds of law and finance who believe it...
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...
Let's give one to the states. Often in their attempt to regulate securities offerings we find states a source of delay and frustration. However, given the snail's pace at which the SEC is implementing crowdfunding rules mandated by the Jumpstart our Business Startups (JOBS) Act...