Thought Leadership - Manatt, Phelps & Phillips, LLP

Analysis of SEC’s and California Legislature’s Proposed Corporate Greenhouse Gas Reporting Mandates

The Securities and Exchange Commission has proposed a sweeping new disclosure requirement relating to registered companies’ climate-related information.

Manatt Announces the Advancement of 14 Professionals Across Various Practices Nationwide

Manatt, Phelps @ Phillips, LLP, a multidisciplinary, integrated professional services firm, announced today the advancement of 14 professionals, including 12 attorneys to partnership and the elevation of one consultant to managing director and one associate to counsel. All promotions are effective January 1, 2022.@These 14 professionals reflect the hustle, drive and collaboration that make...

Fintech Year in Review—2020

As we prepare to put 2020 in the rearview mirror, many of us will not have fond memories of the year.

New York Drags Its Securities Filings Into the 21st Century

New rules will simplify the notice filing process for private placements by requiring filings be made on a Form D via the North American Securities Administrators Association multistate Electronic Filing Depository, consistent with how such filings have long been made in most other states.

SEC, Securities, Securities Act of 1933, Private Placement, State Securities Laws

Did You Really Need That PPP Loan? The SBA Wants to Know

Without much fanfare, the Small Business Administration (SBA) has started investigating borrowers of larger Paycheck Protection Program (PPP) loans to obtain information about their business activities.

Nonprofit, SBA, Equity, Loans, PPP

Raising Capital Through Private Placements: Rule 506(b) vs. Rule 506(c) Offerings

Startups, and particularly first-time founders, typically find that raising funds is a significant, challenging and time-consuming process.

SEC, Investment, Stock, Founder, Capital Raise, Regulation D, Federal Securities Laws, Securities Act of 1933, Private Placement, Rule 506(b), Rule 506(c), Accredited and Nonaccredited Investors

SEC Makes Key Changes to Accredited Investor Definition

In its Final Rule issued on August 26, 2020, a divided Securities and Exchange Commission (SEC) expanded the group of individuals and entities permitted to invest in private securities by amending the definitions of “accredited investor” and “qualified institutional buyer.”

Volcker Rule Changes Provide Stimulus Effect With Banks and Investment Funds

On June 25, 2020, federal banking and securities regulators issued new regulations that will ease burdens on banks that involve themselves with certain types of investment funds.

Bank Secrecy Act Compliance Issues for Small-Business Lending Under the CARES Act

With many banks and credit unions electing to limit Paycheck Protection Program (PPP) loans to existing customers, many nonbank lenders are scrambling to fill the gap and take part in the $349 billion program prior to the end of the application period on June 30, 2020.

Congressional Action—Lending Programs and Relief Provisions Under the CARES Act

On March 27, 2020, President Donald Trump signed into law the CARES Act, an approximately $2 trillion stimulus package to mitigate the adverse economic effects of the COVID-19 pandemic.