The SEC recently proposed allowing all issuers (not just emerging growth companies) to test-the-waters with qualified institutional investors (QIBs) and institutional accredited investors (IAIs) before and after filing a registration statement.
Read MoreOn February 15, 2019, Nasdaq filed an immediately effective rule proposal to permit “direct listings” without an IPO and, in doing so, joins the NYSE, whose proposal to permit direct listings was approved by the SEC in February 2018.
Read MoreOn February 19, 2019, the Securities and Exchange Commission published a rule proposal entitled “Solicitations of Interest Prior to a Registered Public Offering”[1] that would extend the “test-the-waters” provisions of Section 5(d) of the Securities Act of 1933 (the Act), currently available only to emerging growth companies (EGCs), to all issuers of registered securities.
Read MoreOn January 27, 2019, the Division of Corporation Finance posted an announcement regarding recommencement of operations. The Staff is returning to normal operations today and anticipates addressing filings, submissions and other requests for staff action, absent compelling circumstances, in the order received by the Staff.
Read MoreOn December 19, as directed by Congress, the Securities and Exchange Commission adopted amendments to Regulation A that will enable companies that are subject to the reporting requirements of Securities Exchange Act of 1934 to use Regulation A.
Read MoreThe Securities and Exchange Commission has requested comments on the nature, content and timing of earnings releases and quarterly reports made by reporting companies. Specifically, the request solicits input on how the SEC can limit burdens associated with quarterly reporting, while maintaining or enhancing investor protections.
Read MoreThe Delaware Court of Chancery today ruled that a provision in the certificate of incorporation requiring any claim under the Securities Act of 1933 to be filed in federal court is invalid.
Read MoreOn November 16, 2018, the SEC’s Division of Corporation Finance, Division of Investment Management, and Division of Trading and Markets (the “Divisions”) issued a statement on “Digital Asset Securities Issuance and Trading.” The statement highlights several recent SEC enforcement actions involving the intersection of the U.S. securities laws and new technologies.
Read MoreLocke Lord recently hosted in our Houston office a program titled “Produced Water Disposal – The Next Big Wave in E&P” as part of its High Noon Knowledge Series.
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