Stinson Leonard Street Dodd Frank


The Dodd-Frank Act has broad and deep implications that will touch every corner of financial services and multiple other industries. This site, developed and maintained by attorneys at Stinson Leonard Street, is dedicated to making sense of this complex legislation and helping businesses understand how it will affect them specifically. Our Bloggers »

No Action Letter Allows M&A Brokers to Receive Transaction-Based Compensation


Broker-Dealer Historically, the SEC has taken the position that in order for a person to receive transaction-based compensation in connection with the sale of securities – even when the sale of securities is in the context of an M&A transaction – the recipient would need to be a registered broker-dealer.  As a result, people whose business involved […] Read more →

by   |   February 5, 2014

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SEC Grants Second Rule 506 Bad Actor Waiver

Broker-Dealer, Investment Advisers, Private Equity, Public Companies and Securities On December 26, 2013, the SEC granted its second waiver from disqualification from reliance on Regulation D because of prohibited conduct under new Rule 506(d).   The waiver was... Read more →

by   |   January 11, 2014

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New Rule 506 FAQs: 20% Beneficial Owners, 506(e) Disclosure

Broker-Dealer, Private Equity, Public Companies and Securities As we’ve described previously, new Rule 506(d) imposes a number of bad actor disqualifications on certain persons that are associated with the issuer, including officers,... Read more →

by   |   January 4, 2014

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Summary of Proposed Amendments to Regulation A

Broker-Dealer, Private Equity, Public Companies and Securities On December 18, 2013, the SEC published its proposal to modify Regulation A.   The SEC is proposing to expand Regulation A into two tiers:  Tier 1, for offerings of up to $5... Read more →

by , and   |   December 30, 2013