Corp Finance

Public Offerings

Spring Street Paves the Way

Spring Street Paves the Way By Mark J. Astarita, Esq. IN JULY’S COLUMN, WE ADDRESSED THE “INTERENT OFFERING,” a public securities offering on the Internet usually conducted by the issuer without using an underwriter. Since then, broker/dealers and issuers have begun using the Internet in connection with Regulation A offerings […]

Corp Finance

SEC Guidance on Mutual Fund After-Tax Return Requirements

SEC</div><div class=glossaryItemBody>The United States Securities and Exchange Commission is the federal agency charged with the regulation and oversight of the securities markets, public companies and securities professionals.(…)</div>” href=”https://www.seclaw.com/glossary/sec/” data-gt-translate-attributes='[{“attribute”:”data-cmtooltip”, “format”:”html”}]’>SEC releases FAQ By John M. Baker, Esq. The SEC’s Division of Investment Management today posted its responses to Frequently Asked Questions About Mutual Fund After-Tax Return Requirements. The SEC in September extended the compliance date for advertisements involving mutual fund tax returns from October 1 to December 1, 2001, […]

Corp Finance

SEC Allows 401(k) Plan as Qualified Investor

SEC Allows 401(k) Plan as Qualified Investor Staff changes view on status of certain plans for investment company exemption By John M. Baker, Esq. Section 3(c)(1) of the Investment Company Act of 1940 generally excludes from the definition of “investment company” any issuer whose securities are owned by not more […]

Corp Finance

NASD Proposed More IPO Purchase Restrictions

 Free-riding and Withholding Interpretation being replaced? By John M. Baker, Esq. NASD Regulation posted the second amendment to its SEC rule filing on proposed Rule 2790, Restrictions on the Purchase and Sale of Initial Equity Public Offerings. Proposed Rule 2790 is intended to replace the existing Free-Riding and Withholding Interpretation, […]

Corp Finance Other

GAO Report on Blue Sky Revenue Released

Blue Sky Filings Become a Cash Cow By John M. Baker, Esq. Blue sky filings are quite the cash cow, according to a recent General Accounting Office report. Expenditures and Revenues of State Securities Regulatory Agencies, No. GAO/GGD-00-189R (Aug. 15, 2000). For example, in 1999 the 46 jurisdictions reporting usable […]

Corp Finance Public Offerings

LAW REVIEW: BREWING TROUBLE?

  INTERNET OFFERINGS CAN RESULT IN A DOUBLE WHAMMY: AN IPO BY INEXPERIENCED BROKERS IN A COMPANY WITH NO FUNDAMENTALS By now, you’re probably aware of Spring Street Brewing’s successful initial public offering completed last year. The company conducted a self-underwriting almost entirely on the Internet and then commenced trading of its securities on its Internet World […]