On June 23, 2025, the House of Representatives (the “House”) passed seven bills relating to capital formation. As discussed in a previous post, these bills were reported to the House by the House Committee on Financial...more
On June 4, 2025, the U.S. Securities and Exchange Commission (the “Commission” or “SEC”) issued a concept release soliciting public comment on the definition of foreign private issuer (“FPI”), particularly on whether the...more
Yesterday, the Staff of the Division of Corporation Finance of the Securities and Exchange Commission announced a new policy permitting confidential submission of registration statements in additional circumstances in order...more
The Securities and Exchange Commission’s (SEC) Small Business Capital Formation Advisory Committee will meet on February 25, 2025 to discuss capital-raising challenges for emerging fund managers and smaller public companies...more
Not long ago, the SEC hosted the Annual Small Business Forum. The Forum provides an opportunity to consider a broad array of issues affecting private companies as well as smaller public companies seeking to raise capital and...more
The Securities and Exchange Commission announced an upcoming meeting of its Small Business Capital Formation Advisory Committee on May 6, 2024. The meeting will include a discussion of Regulation Crowdfunding (Reg CF) and...more
4/29/2024
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Capital Formation ,
Crowdfunding ,
Emerging Growth Companies ,
Investment ,
Public Meetings ,
Regulation CF ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Small Business ,
Startups
On March 8, 2024, the House of Representatives passed the Expanding Access to Capital Act, H.R. 2799, which we had previously posted on the blog.
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3/11/2024
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Angel Investors ,
Capital Formation ,
Collective Investment Schemes ,
Financial Regulatory Reform ,
General Solicitation ,
Investment Opportunities ,
Proposed Amendments ,
Regulatory Agenda ,
Retirement Plan ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
On March 5, 2024, the House will consider capital formation related legislation, H.R. 2799. This was originally introduced in April 2023 and reported out in July 2023. It is comprised of 19 separate bills. The House...more
As we previously posted, the Securities and Exchange Commission’s Small Business Capital Formation Advisory Committee met last week to consider changes to the accredited investor definition, which has become a political hot...more
The Securities and Exchange Commission recently published its report on the Government-Business Forum on Small Business Capital Formation, which generates recommendations from participants that the SEC considers. The...more
The Securities and Exchange Commission’s Office of the Investor Advocate held the 42nd Annual Small Business Forum—this time convening panels over four days on various topics, including trends and challenges affecting early...more
5/2/2023
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Capital Formation ,
Capital Raising ,
Early Stage Companies ,
Emerging Growth Companies ,
Investment Funds ,
Investment Opportunities ,
Popular ,
Private Funds ,
Securities and Exchange Commission (SEC) ,
Small Business ,
Startups
Companies will be affected in a variety of ways by the receivership of Signature Bank, Silicon Valley Bank or any other similarly situated financial institution. Companies may face difficulty accessing bank facilities or the...more
3/14/2023
/ Banks ,
Capital Formation ,
Corporate Governance ,
Disclosure Requirements ,
Duty of Care ,
Duty of Loyalty ,
Entire Fairness Standard ,
Financial Institutions ,
Financial Markets ,
Insolvency ,
Investment ,
Liquidity ,
Publicly-Traded Companies ,
Receivership ,
Silicon Valley
Speaking at a conference at Columbia University as part of the Columbia Law and Business Schools’ Program in the Law and Economics of Capital Markets, Securities and Exchange Commission Commissioner Uyeda shared his views...more
3/7/2023
/ Business Development ,
Capital Formation ,
Corporate Governance ,
Emerging Growth Companies ,
Initial Public Offering (IPO) ,
Publicly-Traded Companies ,
SEC Commissioner ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Small Business ,
Startups
The Securities and Exchange Commission’s Office of the Advocate for Small Business Capital Formation issued on December 16, 2022 its 2022 Annual Report to the U.S. Congress and to the SEC detailing how entrepreneurs,...more
Globally, the total volume of fintech deal activity, which includes financings by private companies, IPOs, and M&A activity, has declined for three consecutive quarters. Activity in the second quarter of 2022 was down 67%...more
Here’s the deal: -
An initial public offering (“IPO”) refers to the initial offering by a company of a class of its equity securities, usually with a contemporaneous listing of that class of securities on a national...more
The Securities and Exchange Commission’s Office of the Advocate for Small Business Capital Formation recently delivered its annual report for FY2020 to the Committee on Banking, Housing and Urban Affairs of the US Senate and...more
The Securities and Exchange Commission’s Office of the Advocate for Small Business Capital Formation issued a press release announcing a call on February 4, 2020, open to the public....more
The Securities and Exchange Commission recently announced that its Small Business Capital Formation Advisory Committee will hold a public meeting on January 29, 2021. The meeting will be held by videoconference, and open to...more
The Securities and Exchange Commission hosts an annual small business forum, which brings together (this year, virtually) a broad range of participants to consider regulatory and policy issues affecting small and medium-sized...more
Late last week, the House Appropriations Committee approved a bill that addresses the budgets for among other agencies, the Securities and Exchange Commission. While the bill would authorize an increase in the SEC budget for...more
The first quarter 2020 PwC/CB Insights MoneyTree Report for the first quarter of 2020 provides insights on the level of venture funding.
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In a research paper written by Prof. Elizabeth Pollman, titled Startup Governance, and published through the Institute for Law and Economics, a joint research center of the Law School, the Wharton School, and the Department...more
As we had previously blogged, the Securities and Exchange Commission will hold its Small Business Forum on June 18, 2020, virtually. While the annual program always addresses critical capital formation issues, this year’s...more
Recent events have negatively impacted fintech funding. CB Insights recently published data comparing fintech financing activity in the first quarter 2020 compared to the same quarter in prior years. ...more