IFLR recently published The JOBS Act Quick Start, a book authored by David Lynn and Anna Pinedo, which is available online here: http://www.mofo.com/files/Uploads/Images/130200-JOBS-Act.pdf. We also invite you to request hard copies of the book for free for you and your colleagues by emailing firstname.lastname@example.org.
At the annual SEC Speaks held in Washington, DC on February 22, 2013, the SEC explained, justified, prodded, ruminated and complained. And, despite the threat of imminent staff cuts if sequestration sets in, the Commissioners and senior staff offered an ambitious program for the coming year. The proceedings were not without some color and controversy…. Continue Reading
At Practising Law Institute’s session, “The S.E.C. Speaks,” Commissioner Troy A. Paredes commented on the increased complexity of mandatory disclosures, and the increased quantity of disclosures. Paredes noted that, “The information overload concern is that investors will have so much information available to them that they will sometimes be unable to distinguish what is important… Continue Reading
Given the haste with which the JOBS Act made its way through Congress, it is not surprising that there are some details that may have been neglected. Rep. McHenry has introduced a bill (H.R. 701), co-sponsored by Representatives Schweikert, Eshoo, Garrett, and Scott, which would direct the Securities and Exchange Commission to implement rules for… Continue Reading
The Staff of the Division of Corporation Finance recently published a summary of the various capital-raising alternatives available to foreign issuers. The summary is accessible from this link: http://www.sec.gov/divisions/corpfin/internatl/foreign-private-issuers-overview.shtml. The summary incorporates discussion of the applicability of various JOBS Act provisions to offerings by foreign private issuers.
Join Morrison & Foerster and IFLR for an update on the JOBS Act. The webcast will be held Thursday, March 7, from 11:00 AM – 12:30 PM EST. Since the JOBS Act took effect in April 2012, the SEC has published many of the Act’s required studies, and released significant guidance concerning many of its… Continue Reading
The SEC has posted the webcasts from its decimalization roundtable. These are available at: http://www.sec.gov/news/otherwebcasts/2013/decimalization-roundtable-020513.shtml. The participants generally supported the implementation of a pilot program, and cited the need for additional empirical data regarding the effect of decimalization as well as order handling and other market structure changes on the securities of smaller and mid-cap… Continue Reading
The Staff of the SEC’s Division of Trading and Markets recently published a series of FAQs addressing certain broker-dealer matters arising in connection with Title II of the JOBS Act. The FAQs are available here: http://www.sec.gov/divisions/marketreg/exemption-broker-dealer-registration-jobs-act-faq.htm. Title II of the JOBS Act formalizes the guidance that has been provided by the SEC in various no-action… Continue Reading
Morrison & Foerster is seeking nominations for the 2013 Regulatory Innovation Award. Morrison & Foerster established the award in 2008 through the Burton Foundation to honor an academic or non-elected public official whose innovative ideas have made a significant contribution to the discourse on regulatory reform in the areas of corporate governance and executive compensation,… Continue Reading
In its recently released survey, 2013 BDO IPO Outlook, BDO included specific questions on the effect of the JOBS Act on the IPO market. The report can be accessed here: http://www.bdo.com/download/2432. According to the survey, 42% of bankers surveyed responded that they saw no evidence that the JOBS Act had affected the IPO market positively;… Continue Reading
FINRA’s sweeping overhaul of its rules governing communications with the public become effective today. The new rules and guidance, which the SEC approved last year, are likely to keep compliance officers busy for quite some time. The revisions simplify some rules, but also create new compliance challenges. Most significant, FINRA reduced the number of categories… Continue Reading
The SEC has made available links to the webcasts from Friday’s meeting of the Advisory Committee on Smaller and Emerging Companies. You may access the morning session at http://www.sec.gov/news/otherwebcasts/2013/acsec020113.asx and the afternoon session at http://www.sec.gov/news/otherwebcasts/2013/acsec020113-2.asx. Chairman Walter began the meeting with a few opening remarks, which may be accessed here: http://www.sec.gov/news/speech/2013/spch020113ebw.htm. Chairman Walter invited the… Continue Reading