June 22, 2015

Regulation A: New/Revised Forms Available

Since the new Regulation A/A+ took effect on Friday, June 19th – and the SEC denied Montana’s request to stay its implementation – the SEC has posted these 6 new/revised forms (& Form 2-A has been rescinded):

Form 1-A: Regulation A Offering Statement
Form 1-K: Annual Reports and Special Financial Reports
Form 1-SA: Semiannual Report or Special Financial Report Pursuant to Regulation A
Form 1-U: Current Report Pursuant to Regulation A
Form 1-Z: Exit Report Under Regulation A
Form 8-A: Registration of Certain Classes of Securities Pursuant to Section 12(b) or (g)

These new/revised forms will soon be available on our “SEC Rules & Regulations” page. In a few months, we’re holding a webcast – “Regulation A/A+: Developing Market Practices” – to show you how market practice has developed…

Conflict Minerals Rules: The Real World Impact?

As we recover from Year Two of the conflict minerals disclosure push, we’ll continue to see plenty of reports and studies that focus on disclosure trends and statistics in Form SDs (they will be posted in our “Conflict Minerals” Practice Area as they become available). But this Stinson Leonard Street blog covers an article about the question of whether the conflict minerals rules are having a real world impact in the DRC. Here’s an excerpt:

Politico has an interesting article about a trip to the DRC in an attempt to answer that question. The author was told “not a single mine was tagging its output so that buyers could identify the mine at which it had originated.” “Tagging is very expensive, . . . We don’t have the partners to pay for it.” Of course, it’s only one person’s perspective.

More on our “Proxy Season Blog”

We continue to post new items regularly on our “Proxy Season Blog” for members. Members can sign up to get that blog pushed out to them via email whenever there is a new entry by simply inputting their email address on the left side of that blog. Here are some of the latest entries:

– Shareholder Proposals: Review of Proxy Voting on ESG Issues
– Proxy Access: Whole Foods Responds to Shareholder Proposal With Own Alternative
– An Interview with Fidelity Worldwide Investments
– Group Presses on Political Spending Disclosures
– 10-K Wrap Design: Five Tips to Do More with Less

– Jeff Werbitt