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New SEC Guidance May Lead to More 5% Shareholders Having to File Schedule 13Ds

The SEC’s Division of Corporation Finance recently published a new Compliance and Disclosure Interpretation (CD&I) 103.12 regarding shareholders’ engagement with issuers’ management in the context of eligibility to report on...more

SEC Issues Concept Release on Harmonization of Securities Offering Exemptions

The SEC yesterday requested public comment on ways to simplify, harmonize, and improve the exempt offering framework to expand private investment opportunities while maintaining appropriate investor protections and to promote...more

Auditor Reports to Require Additional Information

The Public Company Accounting Oversight Board has approved a new standard (though still subject to SEC approval) designed to enhance the relevance and usefulness of the Auditor's Report with additional information for...more

Plain English guidance for Crowdfunding

In mid-February, the SEC posted an investor bulletin designed to educate investors about the ins and outs of its crowdfunding rules that go into effect in mid-May. The bulletin presents examples illustrating the investment...more

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