This past Wednesday, the Financial Accounting Standards Board (FASB), which decides on what accounting rules should apply to public and private companies, announced that they are looking at easing the reporting requirements for "development stage" companies. They are working on a draft that should be...
It just came over the wires that social media company Twitter has filed a registration statement with the SEC to go public in an IPO. They told the world about it, of course, in a tweet. What's interesting is that the company, with over 200...
In talking with folks who want to advise you about the going public process, it is key to determine the following: What costs should we expect to get public and then once we are public? Can you help us determine if we can afford to...
It's official. The new SEC rules ending the ban on advertising and general solicitation in Regulation D private securities offerings to accredited investors were published in the US Federal Register on July 24. They are effective 60 days later, or September 23, 2013. After that...
For a reported (according to www.abovethelaw.com) $5 million a year, former head of SEC's enforcement division Robert Khuzami has joined the giant law firm Kirkland & Ellis. One assumes he will now use his expertise and knowledge as to SEC enforcement practices and policies to...
The US House of Representatives recently passed a bill to prevent the Public Company Accounting Oversight Board (PCAOB) from requiring public companies to rotate their auditors every few years. You can find the text of the bill at http://www.govtrack.us/congress/bills/113/hr1564/text. As we know the PCAOB is overseen...
It looks like the small cap market just finished its strongest half year since 2008. That's good! According to The Deal, IPOs doubled, private investments in public equity (PIPEs) are up as are special purpose acquisition companies (SPACs), and additional public offerings by already public companies...
This is a little technical but will be important if it applies to you. In the new rules passed ending the ban on general solicitation and advertising in Regulation D Rule 506 private securities offerings, the SEC specifically discussed their impact on private equity, hedge...
As I wade through the newly passed and proposed rules relating to private securities offerings I will post some tidbits of note. This entry focuses on the "safe harbors." In the new rule ending the ban on general solicitation, while the SEC did not mandate...
In a surprisingly granular discussion for the editorial page of the venerable New York Times, it seems the Old Gray Lady is not happy with new SEC Chair Mary Jo White. In an editorial entitled "You've Been Warned," the editors today sharply criticized Ms. White...