On December 2, 2016, the Office of the Comptroller of the Currency (the “OCC”), which licenses and regulates in part National Banks, issued a white paper, and Comptroller of the Currency Thomas Curry spoke, on voluntary licensing as “Special Purpose National Banks” certain FinTech companies that meet OCC requirements. “FinTech” is usually defined as financial technology firms that use… Read more »
Posts Categorized: Venture Capital
SEC Approves Intrastate Offerings and Increasing the Rule 504 Cap
The Securities and Exchange Commission (the “SEC”) approved, on October 26, 2016, amendments to its Securities Act of 1933 (the “Securities Act”) Rule 147 and the creation of Rule 147A, amendments to its Rule 504, and the repeal of the limited use Rule 505. See press release, here. The final rules apparently largely follow the… Read more »
Documentation of a Venture Capital Preferred Financing: The National Venture Capital Association Templates
The working group of the National Venture Capital Association has done a service by drafting and publishing on the NVCA website (www.nvca.com) as a “Resource” under “Model Legal Documents” many of the documents used for a venture capital corporation to enter into an initial or a follow-on preferred stock financing. See the article on this… Read more »