Blog
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 »
Additional Money and Coverage of CARES Act
On April 23, 2020, the federal House of Representatives followed the Senate in passing the nearly $400 million new coronavirus support bill, including another $310 billion for the Paycheck Protection Program (the “PPP”) established by the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act passed in March, and an increase in the Economic Injury Disaster... Read more »