New Small Offering Exemption Proposal Gains Momentum
Spurred on by calls from the President to jump start small business, Congress has, in the past several months, taken up a various pieces of legislation aimed at facilitating small company financing....
View ArticleThe JOBS Act
On March 22, the Senate passed an amended version of the Jump Start our Business Start-ups Bill (the JOBS Bill) which had been passed by the House with broad bi-partisan support on March 8. The bill is...
View ArticleMFA Provides Recommendations on Implementation of JOBS Act
In a letter to the SEC, dated May 4, 2012, the Managed Futures Association (“MFA”), a hedge fund industry advocacy group, made several recommendations to the Commission regarding implementation of the...
View ArticleSEC Issues Proposed Rule on Lifting Ban on General Solicitation under Rule...
On August 29, 2012, the SEC voted, by a 4-1 margin, to issue a proposed rule (“proposed rule”) that would eliminate the current ban on general solicitation and general advertising (collectively...
View ArticleThe JOBS Act: Important Questions Remain Unresolved For Private Funds
On August 29, 2012, the SEC proposed rules implementing the Jumpstart Our Business Startups Act’s (JOBS) eliminating the long-standing ban on general solicitation and general advertising for certain...
View ArticleSEC Repeals the Ban on General Solicitation under Rule 506
On July 10, 2013, the Securities and Exchange Commission (the “Commission”) adopted amendments to Rule 506 of Regulation D (“Rule 506(c)”) implementing changes mandating by the Jumpstart Our Business...
View ArticleSEC Proposes Amendments to Rule 156 following repeal of the ban on General...
By Peter Tyson and Simon Riveles Following the SEC’s adoption of amended Rule 506, the SEC has proposed amendments to Rule 156 of the Securities Act of 1933 to extend the rule’s interpretive guidance...
View ArticleGeneral Solicitation May Trigger State Investment Adviser Registration in...
Background As a consequence of the Jumpstart Our Business Startups Act (“JOBS Act”), beginning September 23, 2013, managers of private funds will be permitted to advertise and solicit the general...
View ArticleThe “Bad Actor” Amendments: Private Issuer Compliance with Rule 506
By Simon Riveles and Peter Tyson On July 10, 2013, the Securities and Exchange Commission (SEC) adopted amendments to Rule 506 of the Securities Act of 1933 to disqualify securities offerings relying...
View ArticleSEC Monitoring the Use and Market Impact of General Solicitation
At the Managed Funds Association Outlook 2013 Conference, held on October 18, 2013, SEC Chair Mary Jo White delivered a speech emphasizing the importance of transparency in the hedge fund industry....
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