Comments on Electronic Submission of Certain Materials Under the Securities Exchange Act of 1934; Amendments Regarding the FOCUS Report
The SEC bundled two major system changes together and called it modernization. TOBIN documented what that actually looked like for a small firm: a six-week enrollment struggle, silent file-naming failures, rejected PDFs, and a $5,000 to $10,000 annual cost increase on top of existing audit burdens. She called for proportionality protections for firms under $250,000 net capital and argued the changes as written accelerate consolidation and squeeze out independent firms.
506(b) vs. 506(c): Which One Fits Your Fundraise?
Choosing the right Rule 506 option under Regulation D of the Securities Act when raising private capital is often not simple. Rules 506(b) and Rule 506(c), the two most popular Reg D exemptions, have key differences. Your best choice depends on factors such as your targeted investor type, your desired marketing approach, and your determined […]