Strictly Business
A legal blog on private funds, startups, and venture capital.
Strictly Business
A legal blog on private funds, startups, and venture capital.
Tag Crowdfunding
FINRA Takes a Small and Extremely Tentative Step Towards Implementing Crowdfunding
Many entrepreneurs have been growing increasingly impatient with the SEC. Not only is the SEC about to be 6 months late in implementing the loosening of the general solicitation requirement of Regulation D, which was mandated by the JOBS Act,…
The SEC (Finally) Issues a Preliminary Rule for Repeal of the Regulation D General Solicitation Requirements
Yesterday, the SEC finally released its proposed rule to amend Rule 506 of Regulation D to eliminate the general solicitation prohibition for private placement offerings. As I’ve discussed in a previous post, the SEC’s continued delays in issuing this rule…
SEC Continues to Miss Key Deadline in Implementing JOBS Act, Drawing Ire of Congress
The JOBS Act contained two provisions that have the potential to help startups in their capital-raising efforts: (1) reform of Regulation D, which will permit more widespread solicitation of angel investors (this is also frequently referred to as the repeal…
SEC Misses Deadline to Issue Regulations Eliminating the General Solicitation Prohibition in Regulation D Private Placements
For startups looking to raise capital, Rule 506 of Regulation D is probably the most commonly used exemption from securities registration requirements. It allows a company to make offers and sales to an unlimited number of accredited investors[1] in order…
In spite of what you may have heard, the Senate just effectively killed crowdfunding.
This last week, the Senate passed the “JOBS Act,” leaving it one step away from final passage by Congress and Signature by President Obama. The JOBS Act contains a number of provisions which are aimed at reducing the securities compliance…