Stinson Leonard Street Dodd Frank

MAKING SENSE OF 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 »

MN Regulation of Investment Adviser Representatives

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Investment Advisers In 2013, Minnesota enacted new regulatory statutes (prior coverage here, here, and here) that require “investment adviser representatives” to register with the department of commerce and meet certain other requirements unless an exemption is available.  However, the system of exemptions is non-intuitive and requires some background knowledge on the current state of the investment adviser […] Read more →

by   |   February 16, 2014

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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... 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