Avoid potential pitfalls when raising capital by learning how to utilize SEC Rule 506(c) and understanding the key elements of the crowdfunding regulation.
The Jumpstart Our Business Startups Act (the JOBS Act) became law on April 5, 2012, and was designed, in part, to enhance the raising of capital, especially by small or emerging businesses. As a result of the JOBS Act, the SEC promulgated new rules to facilitate capital formation. While these new rules enhance opportunities to raise capital, they create certain obstacles and pitfalls, and they do not eliminate the traditional methods in which companies have sought capital. This material will explore capital raising techniques authorized by the JOBS Act and also examine the interplay between these techniques and the traditional methods of capital formation which continue, for many small and mid-size companies, to be the preferred way of seeking capital. The effects of the JOBS Act on public company requirements and the issues raised by the current COVID-19 pandemic will also be discussed.
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Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Traditional Private Placements Are Alive and Well
- Common Pre-JOBS Act Exemptions From Registration
- Regulation D - Rule 506
- Disclosure
- General Advertising and Public Solicitation Prohibited
- Integration of Offers
- How Do You Lose the Exemption?
- Resales of Restricted Securities
The JOBS Act - General Solicitation Now Permitted
- SEC Rule 506(c) - How Often Used?
- The Challenge of Verifying Accredited Investor Status
- Rule 506(c) Does Not Eliminate the Traditional Private Placement
The JOBS Act - Crowdfunding
- Section 4(a)(6) of the Securities Act
- SEC Regulation Crowdfunding Rules
- Key Elements of the Crowdfunding Rules
Other Issues of Note
- Regulation A Offers
- Registration and Deregistration for Public Companies
- The Effect of COVID-19 in Capital Formation
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on October 30, 2023.
Call 1-866-352-9540 for further credit information.
- AIPB 2.0
- This program is acceptable for 2.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
- AK CLE 1.5
- Alaska attorneys may receive 1.5 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
- AL CLE 1.7
- This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.7 hours credit.
- AR CLE 1.5
- This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
- Arizona CLE 1.5
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.5
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
- CT CLE 1.5
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.5 CLE credit(s).
- GA CLE 1.5
- This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.5 CLE hours.
- HI CLE 1.5
- This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hours.
- IL CLE 1.5
- This course was approved for a total of 1.5 hours of MCLE Credit by the Illinois MCLE Board.
- MO CLE 2.0
- This course qualifies for self-study CLE credit in Missouri.
- ND CLE 1.75
- North Dakota CLE policy does not allow for pre-approval of any self-study courses. This course may qualify for up to 1.75 hours of CLE credit.
- NH MCLE 1.7
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 101 Minutes.
- NM CLE 1.6
- This program has been approved by the New Mexico Minimum Continuing Legal Education Board for 1.6 hours of credit.
- NV CLE 1.5
- This program has been approved by the Nevada Board of Continuing Legal Education for 1.5 CLE hours.
- NY CLE 2.0 including Areas of Professional Practice 2
- This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 2.0 credit hours in the area(s) of Areas of Professional Practice for 2.00 hours. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Education- Noggin Guru, Inc. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
- PA CLE 1.5
- This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.
- RI CLE 2.0
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 2.0 hours of CLE credit, including hour of ethics credit.
- VA CLE 1.5
- This program has been approved by the Virginia Mandatory Continuing Legal Education Board for 1.5 CLE credit hours.
- VT CLE 1.5
- This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
- WV MCLE 2.0
- This program has been approved by the West Virginia State Bar MCLE Commission for 2.0 MCLE hours.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
Virginia MCLE requirements do not allow approval for programs that do not include an audio or audiovisual component.
This program was previously offered as a live webinar. Virginia MCLE requirements do not allow approval for attendance at duplicate programs.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Michael D. Waters
Jones Walker LLP
- Partner in the Birmingham, Alabama office of Jones Walker LLP
- Practiced in the corporate and securities area, primarily for financial institutions, for more than 35 years, representing banks, bank holding companies, and other financial entities in acquisitions, capital raising transactions, SEC and shareholder issues, new bank formations, and board fiduciary duty issues
- Advised buyers and sellers in approximately 120 bank mergers and acquisitions, ranging from small community banks to the acquisition of a $34 billion holding company
- Recognized in Chambers USA, banking, and finance annually since 2013
- Recognized by Alabama Super Lawyers annually since 2008 for work in the banking and securities and corporate finance area
- Named by Best Lawyers in America annually since 1995 for work in the area of banking and finance law, corporate law, and financial services regulation law
- J.D. degree, University of Alabama School of Law; M.A. degree, Rhodes Scholar, Oxford University; B.A. degree, Duke University
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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