For years, the SEC has been painted as the cop on the beat when it comes to crypto, more likely to file an enforcement action than to roll out the welcome mat. But SEC Chairman Paul Atkins’ announcement this summer of a new “Project Crypto” initiative is the latest and clearest signal that there’s a
Your company is invited by a local meetup group to present at demo day with other startups, and you accept. The group announces the demo day lineup of startups in an e-blast, on its website, on its Facebook page and through banner ads on a tech e-zine. On demo day, the room is packed and
Identifying potential investors is one of the most difficult challenges facing early-stage companies. The range of amounts sought at this stage is typically greater than what could be provided by the founders and friends and family, but below what would attract a VC or a registered broker-dealer. The problem is even more acute in geographic
Elon Musk’s contentious relationship with the Securities and Exchange Commission is
likely to become even more complicated as a result of Mr. Musk’s filings with the Commission to report his recent purchases of shares in Twitter, Inc.
On April 4, 2022, Elon Musk filed a Schedule 13G with the SEC to report his ownership of
The Securities and Exchange Commission just proposed new rules to protect
investors in private investment funds. The proposed rules would require private fund advisers to disclose certain information and avoid certain practices. But these retail-like protections for private fund investors seem inconsistent with the long-held belief that such investors can fend for themselves. The proposed
Ever since the SPAC market exploded in late 2020 and early 2021, the SEC has sounded
alarm bells through investor alerts, staff statements and public comments. In March of 2021, it warned investors not to invest in SPACs just because of celebrity endorsements. In April, an SEC staff announcement said SPACs needed to account for
The Securities and Exchange Commission announced on July 13, 2021 that it settled fraud charges against a special purpose acquisition company, its sponsor, its sponsor’s CEO and its proposed merger target for making misleading statements about the target’s technology and national security concerns. Charges against the target’s CEO are proceeding. The settlement order imposes
You just raised $1 million in your crowdfunding offering under Title III/Regulation CF. That’s the good news. The bad news? You now have over a thousand shareholders on your cap table, making it unwieldy, an administrative nightmare and likely to impede future funding. It means a huge challenge seeking consents for such things as director
Last month, the Securities and Exchange Commission passed sweeping reforms of 
the rules governing exempt offerings (the “2020 Reforms”) to make it easier for issuers to move from one exemption to another, to bring clarity and consistency to the rules governing offering communications, to increase offering and investment limits and to harmonize certain disclosure requirements
The Securities and Exchange Commission expanded the definition of “accredited investor” by adding new categories of investors that have sufficient investment knowledge and expertise to participate in private investment opportunities. The amendments mark a shift away from wealth as the sole focus of eligibility. The new rule is effective 60 days after publication in the