Broker-Dealers: What Is the Series 79 Exam?
For broker-dealers, a Series 7 license allows them to sell corporate stocks and bonds and a range of other securities, such as municipal bonds and mutual funds. But if they intend on pursuing investment banking activities, as well, they need...
Understanding Real Estate Finance: The Advantages and Disadvantages of a Non-Traded REIT
Recently, a global investment manager with $1.3 trillion in assets under management, established a non-traded real estate investment trust to raise billions of dollars in capital to purchase commercial real estate in the United States and to hold...
What Companies Can Expect During the Regulation A Process
Regulation A (Reg A) allows eligible companies to access investment capital without bearing the costs of a full public offering. Yet even in this streamlined process, companies should be prepared for substantial scrutiny from the Securities and...
EEOC Updates COVID-19 Vaccination Guidance for Employers
The U.S. Equal Employment Opportunity Commission (EEOC) recently updated and expanded its guidance for employers related to COVID-19 and workplace vaccination policies. Issued on May 28, the expanded technical assistance details how federal...
“Testing the Waters” in an EGC Public Offering or other Public Offering: What it Means and How it Works
No one wants to jump into a shower that is too cold. The same holds true for emerging growth companies (EGCs) and other issuers interested in offering their securities in the public markets. Since 2012, federal law has allowed EGCs to “test the...
SEC Guidance to M&A Brokers for Avoiding Broker Dealer Registration—with Major Limitations
In January 2014, the U.S. Securities & Exchange Commission issued a no-action letter that effectively exempted certain intermediaries from registering as broker-dealers when they are assisting in the sale of private companies. While the SEC’s...