November 6, 2015

Congress: Capital Formation Bills Rolled Into Transportation Bill (Ha Ha)

Try explaining this to your high school kid who is learning about how our government works – the House Financial Services Chair has woven a bunch of securities law bills into a transportation bill! Wha..? I’ve blogged about a number of JOBS Act 2.0 bills that have been floating around (eg. House passed 5 securities bills back in July). As reported in this blog by Anna Pinedo of Morrison & Foerster:

Chairman Hensarling offered an amendment to a transportation and transportation bill, which includes a number of JOBS Act and other capital formation related bills that had received bipartisan support. The capital formation related bills include HR 2064, the Improving Access to Capital for Emerging Growth Companies Act, HR 1525, the Disclosure Modernization and Simplifications Act, HR 432, the SBIC Advisers Relief Act, HR 1839, the Reforming Access for Investments in Startup Enterprises Act, HR 1723, the Small Business Freedom and Growth Act, and HR 1334, the Holding Company Registration Threshold Equalization Act. We previously reported on these bills.

Also check out this MoFo blog about this paper: “The Disappearing Small IPO and the Life Cycle of the Small Firm“…

“Materiality” Definition: A Fight is Brewing

As reflected in this article from “Crooks & Liars,” there is some real anger about the FASB’s recent “materiality” proposal. See this WSJ article – and this piece by Edith Orenstein. And we’re posting memos in our “Materiality” Practice Area.

Following NYSE’s guidance about date changes for earnings announcements, the Nasdaq has put out this alert about similar issues…

Insider Trading Cartoons Vol. I: Classical Theory

Brooks Pierce’s David Smyth uses cartoons to teach classical insider trading theory:

– by Broc Romanek