October 2013

SEC Approves Permanent Registration Rules for Municipal Advisors

On September 18, 2013, the Securities and Exchange Commission (“SEC”) voted unanimously to adopt rules under Section 975 of the Dodd-Frank Act (“Dodd-Frank Act”) that require the permanent registration of municipal advisors.  The rules clarify the…

August 2013

SEC Adds to and Amends Broker-Dealer Financial Responsibility and Investor Protection Rules

On July 30, 2013, the Securities and Exchange Commission (“SEC”) made two significant announcements affecting broker-dealers: the adoption of new rules designed to increase protections for investors whose money and securities are held by SEC-registered…

July 2013

SEC Lifts Ban on General Solicitation in Certain Private Securities Transactions, Disqualifies “Bad Actors” from Rule 506 Offerings

On July 10, 2013, the Securities and Exchange Commission (the “SEC”) adopted amendments to Rule 506 of Regulation D and Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”) that eliminate the long-standing prohibition on ge…

June 2013

SEC Issues FAQs on Conflict Mineral Rules

On May 30, 2013, the Division of Corporation Finance at the Securities and Exchange Commission (the "SEC") issued Frequently Asked Questions ("FAQs") on disclosure relating to the use of conflict minerals from the Democratic Republic of the Congo (DRC) or …

SEC Issues Guidance On Social Media Disclosure

In July 2012, Netflix's President, Reed Hastings, announced on his personal Facebook page that Netflix had streamed 1 billion hours of content in June. Netflix is a public company, and the Securities and Exchange Commission ("SEC") subsequently commenced …

April 2013

SEC and CFTC Adopt Identity Theft Red Flag Rules

On April 10, 2013, the Securities and Exchange Commission (the "SEC") and the Commodity Futures Trading Commission (the "CFTC" and together with the SEC, the "Commissions") jointly adopted rules and guidelines that require certain entities subject to th…