The Securities and Exchange Commission (“SEC”) has adopted amendments to update the definition of “accredited investor” in the SEC’s rules, and the definition of “qualified institutional buyer” in Rule 144A … Continue reading Accredited Investor Definition Updated by SEC
In an attempt to collect more information on private placement activity, the Financial Industry Regulatory Authority (“FINRA”) has updated the private placement filer form that member firms must use to … Continue reading FINRA Updates Private Placement Filer Form
In an attempt to collect more information on private placement activity, the Financial Industry Regulatory Authority (“FINRA”) has updated the private placement filer form that member firms must use to … Continue reading FINRA Updates Private Placement Filer Form
The updated Financial Industry Regulatory Authority (“FINRA”) Private Placement Filer Form required by member firms to file offering documents and information pursuant to FINRA Rules 5122 (Private Placements of Securities … Continue reading Effective Date for Use of Updated FINRA Private Placement Filer Form
The Financial Industry Regulatory Authority’s (FINRA) review of securities offering documents has revealed a large number of instances in which broker-dealers have not complied with requirements of Rules 10b-9 and … Continue reading FINRA Gives Additional Guidance on Contingency Offerings
On August 6, 2015, the Securities and Exchange Commission (SEC) issued a No Action Letter to Citizen VC, Inc. (CVC) that appears to have further loosened the prior No Action … Continue reading Substantive Pre-Existing Relationships Possible in On-Line Private Placements
FINRA Comment Letter – Rule 5122 Member Participation in Private Placements On January 11, 2011, the Financial Industry Regulatory Authority (FINRA) published Regulatory Notice 11-04 (Regulatory Notice) seeking comments on its … Continue reading FINRA Comment Letter – Rule 5122 Member Participation in Private Placements
The Financial Industry Regulatory Authority (FINRA) has recently noted significant market abuses in the sale of private placements by member firms. These abuses include fraud and sales practices directly related to … Continue reading Private Placement Due Diligence and FINRA Anti-Fraud Enforcement