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SEC Proposes New Rules on “Finders”

On October 7, 2020, the Securities and Exchange Commission proposed rules to exempt for the first time “finders” from the need to register as broker-dealers. For a number of years, attorneys have advised that issuers could use “finders” not registered as broker-dealers to find potential investors on capital raises if the finders kept their activities very... Read more »

SEC Approves Update of “Accredited Investor” and “Qualified Institutional Buyer” Definitions

On August 26, 2020, the Securities and Exchange Commission (the “SEC”) voted 3-2 to adopt its proposed revisions to expand the definition of “accredited investor” (“AI”) and “qualified institutional buyer” (“QIB”), which marked the first major revision since 1982.  The revisions included:  (i)  the new definition of AI allows an individual who holds certain professional... Read more »

Thoughts on Commercial Solutions During Pandemic

The following is not legal advice but things that came out of interactions with clients during the COVID-19 outbreak. Federal, State and Local Programs The CARES Act and the follow-on laws that may come give money and authority to the Treasury, but it and its agencies do not want to be in the direct support... Read more »

Cryptocurrency Rules Significantly Broadened in Japan

On April 3, 2020, the Japanese Financial Services Agency issued amended regulations to carry out changes made last year to the Japanese Payment Services Act and Financial Instruments Exchange Act. The new regulations go into effect on May 1, 2020, and reflect major changes in the regulations. While the changes are extensive and beyond the... Read more »

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