Sometimes good things happen to good people. In this case folks filing public offerings and other registrations with the SEC will see a reduction in filing fees. The agency made the announcement yesterday. As of October 2015, the start of the SEC's fiscal year, the...
Audit Analytics has done a fascinating review of the Securities and Exchange Commission's penchant for issuing comment letters after reviewing public companies' quarterly and annual filings on Forms 10-K and 10-Q (like the one Apple got above). The Sarbanes-Oxley Act of 2002 mandated the SEC...
Last week the US Securities and Exchange Commission issued an "investor bulletin" about its amendments to Regulation A made under the Jumpstart Our Business Startups (JOBS) Act of 2012. The introduction to the bulletin makes clear the changes were made "to enhance the ability of...
Kudos to the House Financial Services Committee. This week they unanimously (read: strong bipartisan support) passed a bill allowing all SEC reporting companies to incorporate by reference into registration statements on Form S-1 filings made after the registration goes effective. This will dramatically reduce small...
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...
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...
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...