On April 2, 2013, the U.S. Securities and Exchange Commission (SEC) issued guidance in the form of the Report of Investigation under Section 21(a) of the Securities Exchange Act of 1934 which indicates that social media channels—such as Twitter and Facebook—could be used by public companies to disseminate material information, without running afoul of Regulation… Continue Reading
Category Archives: SEC
Subscribe to SEC RSS FeedSEC Releases Proposed Rules Relaxing Ban on General Solicitation
Posted in SECFollowing this morning’s meeting, the Commission has published its proposed rules: http://www.sec.gov/rules/proposed/2012/33-9354.pdf Summary The SEC published its guidance today as a proposed rule, with a comment period, and not as an interim final rule. The SEC proposes to amend Rule 506 to provide that the prohibition against general solicitation contained in Rule 502(c) shall not… Continue Reading
SEC Proposes Rules to Relax the Ban on General Solicitation: First Take
Posted in SECAt a meeting this morning, the SEC voted to propose rules relaxing the ban on general solicitation for certain offerings conducted pursuant to Rule 506 and resales under Rule 144A. In a meeting that lasted approximately 45 minutes, the Staff outlined the principal aspects of the proposed rules. The Staff indicated that it was proposing… Continue Reading
The JOBS Act Opens Door for Crowdfunding Offerings
Posted in Crowdsourcing, JOBS Act, SEC, Securities LawFor several months, various legislative proposals that would ease regulatory and financing burdens on smaller companies have been discussed by legislators, business leaders and commentators. These proposals were brought together under the Jumpstart Our Business Startups (JOBS) Act (H.R. 3606). The JOBS Act was passed by Congress on March 27, 2012 and signed into law… Continue Reading
Announcing: MoFo Jumpstarter
Posted in Crowdsourcing, JOBS Act, SEC, Securities LawRelevance of Securities Laws in the Social Media Age – Seminar Series
Posted in Event, SEC, Securities LawJoin us for this timely seminar series in New York, Palo Alto, and San Francisco. The use of social media by public companies and their employees raises many legal issues, such as the application of the federal securities laws to communications made through company websites, blogs, Twitter and Facebook. Those communications implicate laws regulating selective… Continue Reading