Last month, the SEC issued a No Action Letter interpreting Rule 506(c) that effectively provides a streamlined path for private fund sponsors to conduct an exempt general solicitation offering pursuant to Regulation D of the Securities Act of 1933. The guidance...
Starting July 1, 2025, the OTC Markets Group will introduce OTCID Basic Market, replacing the current Pink Current tier. The OTC believes that this change will enhance transparency and provide investors with clearer insights into the level of disclosure and engagement...
Background In 2023, the New York County Manhattan District Attorney’s Antiquities Trafficking Unit, or NYATU, had seized a statue in the collection of the Cleveland Museum of Art for repatriation to the Republic of Türkiye. CMA acquired the 2nd-century headless statue...
Strengthening Board Control OpenAI is exploring governance changes that would grant its nonprofit board enhanced voting rights to prevent a hostile takeover by Elon Musk. This move follows Musk’s $97.4 billion bid, which was rejected by OpenAI’s board, and his legal...
The Securities and Exchange Commission (SEC) recently charged Keurig Dr Pepper Inc. with making inaccurate statements about the recyclability of its K-Cup single-use beverage pods in violation of securities laws. The case highlights the importance of accurate...
Elon Musk's Ventures and Controversies Elon Musk is well known for his many ventures as well as his disdain for convention. While serving as the CEO of Tesla, Inc., Musk acquired Twitter (now X Corp.) and founded a private AI-focused company, X.AI Corp. (not to be...
On June 27, 2024, the United States Supreme Court issued a landmark decision in SEC v. Jarkesy, ruling that the Securities and Exchange Commission’s (SEC) use of in-house tribunals for civil penalties in securities fraud cases violates the Seventh Amendment’s...
In 2015, the Securities and Exchange Commission (SEC) inaugurated Regulation A+, an expansive amendment to the existing Regulation A exemption of the Securities Act of 1933 (Regulation A). The amendment made Regulation A a more practical alternative to registered...
Recently, the Securities and Exchange Commission filed a complaint against Curt Kramer and three companies owned by Kramer, 1800 Diagonal Lending Company, LLC, Power Up Lending Group, Ltd., and Geneva Roth Remark Holdings, Inc. (Securities and Exchange Commission v....
The Securities and Exchange Commission (SEC) has sent clear signals that it will pursue companies for “AI washing” — touting the use of artificial intelligence in ways that are false or misleading. The SEC has imposed fines on two investment advisors for AI washing,...