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Full-Text Articles in Securities Law
Proposed Regulation Of Limited Partnership Investment Programs, Ivan J. Schell
Proposed Regulation Of Limited Partnership Investment Programs, Ivan J. Schell
University of Michigan Journal of Law Reform
Limited partners have long been admonished to scrutinize potential investments; this advice is often ignored, however, by investors eager to reap quick profits. Furthermore, the proliferation of limited partnership interests in a single enterprise diffuses the focus of investor vigilance and increases the potential for undetected abuses. Thus a need for regulation, either governmental or private, has developed. Currently the Uniform Limited Partnership Act and blue sky laws provide some control of limited partnership abuses at the state level. On the interstate level, the Midwest Securities Commissioners Association, the National Association of Securities Dealers, and the Securities and Exchange Commission …
Proposed Sec Rules For Private Offerings: The Impact On Venture Capital Financing, Gregory A. Kearns
Proposed Sec Rules For Private Offerings: The Impact On Venture Capital Financing, Gregory A. Kearns
University of Michigan Journal of Law Reform
In order to facilitate venture capital financing, corporations rely upon the private offering exemption from the registration and prospectus requirements of the Securities Act of 1933. In an attempt to prevent this exemption from serving as a conduit for the flow of securities into the public securities markets, the Securities and Exchange Commission (SEC) has proposed new rules regulating the resale of securities purchased in a private offering. These proposals would alter, among other things, the existing holding period, sales limitation, and financial information requirements. This article will examine the impact of the proposed *rules on venture capital financing of …