The Venture Alley - A blog about business and legal issues important to entrepreneurs, startups, venture capitalists and angel investors.

CONTRIBUTED BYAsher Bearmanasher.bearman@dlapiper.com This article is appearing simultaneously on The Venture Alley and on Startup Law Blog. Readers may feel free to re-post this content elsewhere as well. The world is changing for venture funds and similar funds in Washington State, and not necessarily for the better.  It used to be the case that managers of venture or other private funds did not need to file anything with the SEC or state securities regulators (other than Forms D incident to their fundraisings).  Dodd-Frank changed all that – but provided that investment advisers solely to venture capital or other small private... More

As we previously blogged, in June 2012 the SEC adopted final rules directing national securities exchanges to establish listing standards relating to compensation committees.  The NYSE and Nasdaq have now done so. Our colleagues Christopher C. Paci, Jason C. Harmon, Joe C. Sorenson, and Christopher B. Edwards have prepared the following summary of these new listing rules.  ... More

CONTRIBUTED BY Andrew Ledbetterandrew.ledbetter@dlapiper.com   Sanjay Shirodkarsanjay.shirodkar@dlapiper.com The SEC recently issued new rules requiring various disclosures concerning “conflict minerals” that originate in the Democratic Republic of the Congo (DRC) or an adjoining country. After considering thousands of comments and conducting a public roundtable, the SEC adopted (by a narrow 3 – 2 vote) new rules and a new form relating to the use of conflict minerals.  The new rules apply to substantially all issuers that file reports under Section 13(a) or Section 15(d) of the Exchange Act and impose additional disclosure requirements on issuers that use conflict minerals in, or to... More

CONTRIBUTED BYAsher Bearmanasher.bearman@dlapiper.com As a result of the new rules under the Investment Advisers Act of 1940, even fund managers that are exempt from registration will need to file annual reports with the SEC.  Exempt reporting advisers (“Exempted Advisers”), including fund managers that rely on either the venture capital fund exemption or the private fund adviser exemption, will be subject to SEC oversight as “exempt reporting advisers” and must complete and periodically update a portion of Form ADV, the same form used by registered advisers.  This filing obligation becomes mandatory for Exempted Advisers beginning in the first quarter of 2012. ... More