Dodd-Frank Broker-Dealer
Comments Begin on JOBS Act
Broker-Dealer, Investment Advisers, Private Equity, Public Companies and Securities, Uncategorized High profile groups have begun to submit comments on the JOBS Act to try and steer rulemaking in the correct direction. The Federal Regulation of Securities Committee, Business Law Section, of the American Bar Association noted: The proposed rules or the accompanying release should reflect the existing definition of “accredited investor” that includes a reasonable [...] Read more →
FSOC Approves Rule to Designate Nonbank Financial Companies for Enhanced Oversight
Banking, Broker-Dealer, Insurance, Investment Advisers Section 113 of the Dodd-Frank Act authorizes the Financial Stability Oversight Council, or FSOC, to require a nonbank financial company to be supervised by the Board of Governors... Read more →
The Role of Brokers and Funding Portals in Crowdfunding Transactions
Broker-Dealer, Public Companies and Securities All crowdfunding transactions under the JOBS Act must be conducted either through a registered broker or a new type of regulated entity called a funding portal. While we discuss... Read more →
Issuer Requirements for Crowdfunding Under the JOBS Act
Broker-Dealer, Public Companies and Securities, Uncategorized The JOBS Act takes the unprecedented step of permitting crowdfunding. The statute permits, subject to SEC rulemaking, the ability to offer and sell securities to numerous people... Read more →
Some Ruminations on the JOBS Act’s Regulation D Provisions
Broker-Dealer, Private Equity, Public Companies and Securities The Dodd-Frank Act was overarching, cumbersome and, from its inception, has created much ongoing regulatory uncertainty. While there are some open issues raised by the JOBS Act,... Read more →
Winning and Losing Provisions of the JOBS Act
Broker-Dealer, Private Equity, Public Companies and Securities The House of Representatives has passed the Senate version of the Jumpstart Our Business Startups Act, or JOBS Act, and President Obama is expected to sign the legislation. ... Read more →
JOBS Act on the Way
Banking, Broker-Dealer, Private Equity, Public Companies and Securities The House of Representatives has passed the Senate version of the Jumpstart Our Business Startups Act ,or JOBS Act, and President Obama is expected to sign the legislation. Some... Read more →
SEC Approves FINRA Rule Change Regarding Non-Arbitration of Whistleblower Disputes
Broker-Dealer, Litigation On November 21, 2011, the Financial Industry Regulatory Authority, Inc., or FINRA, filed with the SEC a proposed rule change to amend FINRA Rule 13201 of the Code of Arbitration... Read more →
SEC Issues Small Entity Compliance Guide on “Accredited Investor” Standard
Broker-Dealer, Private Equity, Public Companies and Securities, Uncategorized The SEC has issued a Small Entity Compliance Guide on the new “accredited investor” standard. Section 413(a) of the Dodd-Frank Act requires that the value of a... Read more →
SEC Commissioner Addresses Liability of Investment Adviser Legal and Compliance Officers
Broker-Dealer, Investment Advisers, Private Equity SEC Commissioner Daniel M. Gallagher gave his views on the liability of an investment adviser’s legal and compliance personnel at remarks for PLI’s “The SEC Speaks in... Read more →