[This article was originally posted on August 2, 2007 at Duane Morris Alerts. Click here for the PDF]
On July 5, 2007, the Securities and Exchange Commission (the “SEC”) proposed rule amendments regarding disclosure and reporting requirements for smaller companies under the Securities Act of 1933 and the Securities Exchange Act of 1934. The proposed amendments [...]

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SEC/Corporate
Robert L. Kohl, Mark A. Conley and David A. Pentlow
On May 23, the Securities and Exchange Commission (The “SEC”) proposed certain new rules for changing Rule 144 and 145. On June 22, the SEC filed the proposed amendments to Rule 144 which would, among other things would:

shorten the required holding period for [...]

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The Treasury Secretary’s stance on internal-controls compliance seems to represent a subtle shift away from a strong preference for rolling back Sarbox.
David M. Katz, CFO.com
June 20, 2007
Pushed by a Congressman to stretch the deadline for small-company compliance with the Sarbanes-Oxley Act’s internal-controls provision, Treasury Secretary Henry Paulson held firm on Wednesday to the current filing [...]

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A new federal advisory committee, headed by MFS chairman Robert Pozen, has one year to make recommendations to the SEC.
Sarah Johnson, CFO.com
June 27, 2007
The Securities and Exchange Commission has established a committee to figure out how to take complexity out of financial reporting. Headed by Robert Pozen, chairman of MFS Investment Management, the group will [...]

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Coming This Summer: 404 for All
Small business hopes for another 404 delay were kept alive in Congress today, but a more likely scenario is that smaller firms will have to start complying this summer.
Alan Rappeport, CFO.com
June 05, 2007
The jury is still out on whether recent rule changes will make it easier for small companies to [...]

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Gersten Savage LLP
In a move designed “to provide broader and more timely public notice of important Commission actions,” the Securities and Exchange Commission announced April 25 that it plans to replace a number of paper effectiveness orders with electronic notifications.
In particular, the SEC said in a release, on May 22, the staffs of the Divisions [...]

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The SEC posted their 114 page proposal on Rule 144 changes to their site Friday June 22, 2007.
The SEC is proposing making Rule 144 available for the resale without registration of restricted securities issued by a reporting shell company, at least 90 days after a reverse merger is completed and the “Form 10 information” or [...]

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DealFlow Media’s Reverse Merger Conference has just convened. This year the conference had close to 350 attendees. Here is an overview of what was discussed at the event:

2007 - First quarter results - 53 reverse mergers with $3 billion market cap - 100% higher than the prior year quarter!
A new study at the University of [...]

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Roy E. Bertolatus
Texas Lawyer
May 8, 2007
Private investment in public equity (PIPE) transactions involves a private placement of securities by an already-public company, with the issuer committing to register the securities for resale promptly after the private placement is completed. Although variations exist, in the most standard PIPE transaction the investors in the private placement [...]

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LOS ANGELES–(BUSINESS WIRE)–Small businesses will have cheaper access to capital because this proposed change will vastly improve the liquidity of restricted stock, said securities law expert Nimish Patel, in reaction to today’s proposed changes to Rules 144 and 145 by the Securities and Exchange Commission.
If a proposed change in Rule 144 is approved, stockholders in [...]

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