July 5, 2013
JOBS Act: SEC Schedules Open Meeting to Adopt Title II Rules
As noted in this Morrison & Foerster blog, the SEC has calendared an open Commission meeting for next Wednesday to finally adopt rules relating to Title II of the JOBS Act, which should facilitate the ability to conduct Rule 506 offerings as they include the elimination of the general solicitation bar for Reg D and Rule 144A offerings as well as other changes to Reg D (including the “bad actor” disqualification), Form D and Rule 156. Note that this doesn’t include the crowdfunding rules in Title III of Dodd-Frank…
New Type of Myanmar Disclosure Requirements Starts Monday
Hat tip to the Society of Corporate Secretaries for pointing out this NY Times article that describes a new annual disclosure requirement for US companies that invest a certain amount or way in Myanmar. This disclosure is not made through SEC filings – but rather through a report that eventually is made public on an embassy website. Bizarre stuff…
The Society’s alert also notes that there is a bipartisan bill pending in the House to require companies to disclose activities in North Korea: H.R. 1771: “North Korea Sanctions Enforcement Act of 2013.”
Ricky, The Honey Badger: Play That Thing!
– Broc Romanek