Posts
December 06 2013
The Business Law Section and the International Section of the New York State Bar Association (NYSBA) is hosting a live program and webcast in New York City on December 11, 2013, to review crowdfunding. The event is titled, “The SEC’s Crowdfunding Proposal – A Preliminary Look”, and it is open to anyone who registers on the NYSBA site. The webcast is free of charge.
July 25 2013
JOBS Act Title II Rulemaking Update
The final rules adopted by the SEC on July 10th to eliminate the ban on general solicitation and advertising and define bad actor disqualifications for Rule 506 offerings have been published in the Federal Register. These rules go into effect on September 23, 2013.We will be working with our clients and friends to develop compliance protocols for these new rules.
July 12 2013
The FINRA Board of Governors met today and authorized the publication of a Regulatory Notice to solicit comment on proposed rules and related forms governing funding portals pursuant to Title III of the JOBS Act. The proposed rules address among other things the membership application process for funding portals, fraud and manipulation, just and equitable principles of trade, communications with the public, supervision and anti-money laundering. FINRA expects to publish the Notice when the SEC releases its proposed rules pursuant to Title III of the JOBS Act for comment.
May 10 2013
Douglas S. Ellenoff, a member of the Firm, wrote an article on Crowdfunding that was published in the Vanderbilt Law Review.
January 11 2013
Sherwood Neiss and Jason Best of Crowdfund Capital Advisors co-authored this crowdfund investing primer to provide guidance to investors interested in this emerging financial marketplace.
January 10 2013
In response to encouragement from the crowdfunding industry, FINRA has taken the proactive step of creating an Interim Form for Funding Portals to commence the application process ahead of final SEC and FINRA rulemaking. The application will give both FINRA and applicants the ability to develop rules that reflect the funding portal community and its business. FINRA will treat the filed information as confidential. Once the rules are implemented, applicants will have the opportunity to provide additional or different information. This voluntary interim application will not confer FINRA membership and is not a license to conduct business under the JOBS Act.
January 08 2013
Douglas S. Ellenoff participated in "Crowdfund Texas: Impact of the JOBS Act on Texas Investors and Start-ups" in Austin, Texas on January 8, 2013. It was a premiere industry conference that brought together Texas investors, start-ups, incubators, accelerators, and academic leaders in entrepreneurship for an intensive day of interactive educational sessions from leading thought leaders. Mr. Ellenoff was invited to speak on several panels as well as one exclusively for the media.
December 11 2012
Today I kick off a special series of conversations with one of our contributing experts on the JOBS Act and the future of crowdfunding for equity in the US and elsewhere. Douglas Ellenoff, a partner at the firm Ellenoff, Grossman and Schole will help me…