Writings by Dan Brecher

The Democrat appointees to the Securities and Exchange Commission (SEC), by a 3-2 majority vote, recently finalized the SEC’s controversial pay ratio rule. Mandated under the Dodd-Frank Act, the new disclosures will require companies to reveal how their chief executive officers’ compensation compares to their workforce at large. The SEC pay ratio rule attracted more […]

Crowdfunding Crash Course for Small Business Owners Many small business owners and entrepreneurs are still finding that it is difficult to secure funding for their businesses or ventures. Yet, very few ever explore crowdfunding. According to a recent survey, many business owners simply don’t know enough about securing capital from the “crowd.” Manta, which provides […]

Securities regulators are increasingly turning their attention to dark pools, which are far less regulated than traditional exchanges. The European Union’s (EU) new rules will take effect in 2017, and the Securities and Exchange Commission (SEC) proposed its own rules earlier this year. Dark pools are private, alternative trading systems (ATS) in which participants can […]

With the explosion of smart phones, contract negotiation is no longer confined to business letters, telephone conversations, or even emails. However, are text message contract negotiations the way to go? For busy business professionals, text message contract negotiations between partners is becoming increasingly common. Unfortunately, it is not the most legally sound way to negotiate a […]

Earlier this month, the Securities and Exchange Commission (SEC) proposed new rules that would require companies to adopt policies that require executive officers to pay back incentive-based compensation that they were awarded erroneously. These SEC clawback rules for executive compensation, which are required under Section 954 of the Dodd Frank Act, are intended to improve the quality […]

The Securities and Exchange Commission, also known as the SEC is offering guidance regarding Regulation A+, which took effect on June 29, 2015. The speed with which the agency’s Division of Corporation Finance published responses to several frequently asked questions suggests that the new securities exemption may be living up to the buzz. Regulation A+ […]

When launching a new venture, it can be tempting to accept start-up financing from anyone who offers it. However, entrepreneurs should always take the time to get to know their potential investors when it comes to start-up financing. After all, you will likely be married to them for several years. So while investors are checking […]

The Securities and Exchange Commission (SEC) recently announced a new compliance initiative that will target the retirement advice doled out by brokers and other financial advisers. Dubbed the “Retirement-Targeted Industry Reviews and Examinations Initiative,” the SEC’s targeted examinations of registered investment advisers and broker-dealers will focus on “certain higher-risk areas of registrants’ sales, investment, and […]

By the end of the month, the U.S. Supreme Court will announce its third Affordable Care Act ruling on the legality of the association. The Affordable Care Act ruling, which involves subsidies provided to individuals who purchase insurance via Healthcare.gov, has the potential to dramatically shake up the healthcare industry. The lawsuit, King v. Burwell, […]

Twenty-two states and the District of Columbia have now legalized some form of equity crowdfunding at the local level. Many more, including New Jersey, have proposed legislation that would allow entrepreneurs to solicit financing from “everyday” investors, otherwise known as the “crowd.” Equity crowdfunding was supposed to be a centerpiece of the Jumpstart Our Businesses […]

Just as investment advisers are adjusting to their new Dodd-Frank compliance obligations, the Securities and Exchange Commission (SEC) has proposed new reporting and disclosure requirements. The rule proposal, which was unveiled on May 20, 2015, includes several amendments to Form ADV as well as new reporting requirements for statements of the investment advisers performance. According […]

Overstock.com, Inc. may be the first company in the United States to offer digital securities. The online retailer recently filed a prospectus with the Securities and Exchange Commission (SEC) that details its plans to offer uncertificated securities that would be purchased and transferred using technology similar to that used for Bitcoin digital currency. In 2014, […]