Securities Registration

The House passed the JOBS (Jumpstart Our Business Startups) Act today, a package bill aimed to make it easier for small businesses and start ups to raise capital.  This is obviously a momentous occasion, right?

Not quite.  As it turns out, the House has already passed most (4 out of 6) of the provisions of this bill

Often, we are asked to consider assisting clients in obtaining funds for their start-up businesses.  Before asking for money, new businesses must have an understanding as to their business plan, need funding, and disposition of said funds. 

Accordingly, new businesses must develop an understandable business plan.  Further, these entrepreneurs must consider the amount of capital necessary

Buenos Aires, it is not, but the United States Supreme Court recently requested that the United States Solictor General provide an opinion involving a dispute between certain parties over the proprietary of certain Argentinean bonds.

The dispute involves funds belonging to the Argentinean central bank held in the United States.  The United States Court of Appeals for the

Responding to numerous complaints, especially, regarding companies operating from the People’s Republic of China, the SEC has determined that it will tighten the listing requirements for companies involved in reverse mergers.  In particular, these new regulations will effect those companies listed on the Nasdaq, New York Stock Exchange, and the NYSE Amex. 

As many know

The SEC released two new rules yesterday: one on mine safety (I wonder how many securities lawyers have ever set foot in a mine) and the other changing the net worth standard for accredited investors.  Both new rules come to us courtesy of Dodd-Frank. 

Because mine safety disclosure isn’t really my forte, I’ll focus on

FINRA proposed a rule for SEC approval that would require FINRA’s membership, involved in a private stock offering, to provide detailed information on the transaction to investors prior to the sale, as well as to file such information with FINRA 15 days before the first sale.

This proposed Rule 5123 would require that offering materials

The Division of Corporation Finance, recently, provided guidance on preparing legal and tax opinions for registered securities offerings.

Initially, Corp Fin stated when such opinions must be filed, and the content of those opinions.  The Staff referred to Staff Legal Bulletin No. 19 that discussed the opinion requirements, and its views regarding the required elements