News & Analysis as of

Capital Markets Registration Requirement

Foley Hoag LLP - Public Companies & the Law

SEC Expands Confidential Registration Statement Submission Process

On March 3, 2025, the Staff of the SEC Division of Corporate Finance announced an expansion of the accommodations that allow issuers to confidentially submit draft registration statements (DRSs) for nonpublic review. This is...more

BCLP

New SEC Guidance Eases Form S-3 Registration Process for More Public Companies

BCLP on

The new registration statement guidance will make capital raises by non-WKSI companies filing on Form S-3 easier, as they can proceed with offerings during periods before their proxy statements are finalized – a privilege...more

Alston & Bird

SEC Announces More Options for Issuers Submitting Draft Registration Statements

Alston & Bird on

Our Investment Funds Team reviews the Securities and Exchange Commission’s enhanced options for companies filing draft registration statements for nonpublic review....more

Mayer Brown Free Writings + Perspectives

SEC Expands Accommodations for Issuers Submitting Draft Registration Statements

On March 3, 2025, the Staff of the Division of Corporation Finance of the Securities and Exchange Commission (the “SEC”) announced a new policy, with immediate effect, expanding the accommodations available for issuers that...more

Cozen O'Connor

SEC Expands Availability of Confidential Review Process to Encourage Flexibility in Capital Formation

Cozen O'Connor on

On March 3, 2025, the Securities and Exchange Commission (SEC) staff issued guidance that expands the existing accommodations available to companies to submit draft registration statements to the SEC for confidential,...more

Wilson Sonsini Goodrich & Rosati

SEC Staff Expands Accommodations for Nonpublic Review of Draft Registration Statements

On March 3, 2025, the Securities and Exchange Commission’s (SEC) Division of Corporation Finance (Division) announced an expansion of the nonpublic review process for draft registration statements. This expansion aims to...more

Skadden, Arps, Slate, Meagher & Flom LLP

Are You Ready for a Hong Kong IPO?

With deep and liquid capital markets offering unique access to the Mainland China investor market, many international businesses are considering pursuing their IPOs in Hong Kong. This summary outlines key issues for companies...more

Husch Blackwell LLP

SEC Revises Integration Framework And Its Associated Safe Harbors

Husch Blackwell LLP on

The Securities and Exchange Commission (SEC) recently published extensive rules to modernize the private placement framework of the federal securities laws. On March 15, 2021, the Final Rules became effective. The SEC goal...more

Proskauer Rose LLP

SEC Amends Rules to Facilitate Capital Raising in Private Offerings

Proskauer Rose LLP on

On November 2, 2020, the Securities and Exchange Commission adopted amendments to facilitate the use of private, or “exempt,” offerings. The changes will impact offerings structured pursuant to Section 4(a)(2), Regulation D...more

White and Williams LLP

Direct Listings: Capital Liquidity, Liability and D&O Insurance Coverage Considerations

White and Williams LLP on

Direct listings have been a hot topic in the news lately, particularly in light of the recent submission of proposals to the U.S. Securities and Exchange Commission (SEC) by the New York Stock Exchange (NYSE) (and indications...more

Jones Day

SEC Explores Ways to Simplify, Harmonize, and Improve the Framework For Exempt Offerings

Jones Day on

The Situation: In recent years, the overall framework for exempt offerings has shifted as new exemptions from the registration requirements of the Securities Act of 1933 ("Securities Act") have been introduced and existing...more

Sheppard Mullin Richter & Hampton LLP

Expansion of Regulation A to Reporting Companies: Increased Alternatives Now Available to Public Companies Seeking to Raise...

On December 19, 2018, the SEC announced that it had adopted final rules that allow reporting companies to rely on the Regulation A exemption from registration for their securities offerings. Until recently, the only way...more

Farrell Fritz, P.C.

Gig Stock: Extension of Rule 701 Exemption for Compensatory Equity Proposed for Gig Economy Participants

Farrell Fritz, P.C. on

Private companies in the gig economy like Uber, Airbnb and GrubHub would love to issue compensatory equity to their platform participants, just like they’re able to do with their employees. ...more

Blake, Cassels & Graydon LLP

Canadian Regulators Issue Revised Derivatives Dealer and Adviser Business Conduct Rule Proposal

On June 14, 2018, the Canadian Securities Administrators (CSA) published for comment a revised version of Proposed National Instrument 93-101 – Derivatives: Business Conduct (Business Conduct Rule). The Business Conduct Rule...more

Mayer Brown Free Writings + Perspectives

Chair Clayton’s Congressional Testimony

In his most recent testimony in Congress, the Securities and Exchange Commission Chair once again focused on retail investors. Chair Clayton cited a number of statistics regarding the level of retail participation in the...more

Blake, Cassels & Graydon LLP

Draft Derivatives Laws Issued for the Canadian Cooperative System Harmonize Divergent Provincial Approaches

Draft derivatives regulations and a revised draft of the uniform Capital Markets Act (CMA) were issued in August 2015 as part of the process to implement the new Cooperative Capital Market Regulatory System (Cooperative...more

Stinson - Corporate & Securities Law Blog

Briefing on Regulation A+ Challenge to Extend Though November

The United States Court of Appeals for the District of Columbia has entered a briefing schedule in Montana’s and Massachusetts’ challenge to Regulation A+. The states’ briefs are due August 26, the SEC’s brief is due...more

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