| Securities Law> Exemptions From Registration> Exempted Transactions |
| (The Private Offering Exemption From SEC Registration Requirements)More... |
| Interlocking Directorates |
| Section 8 of the Clayton Act, 15 U.S.C.S. § 19, prohibits corporations from having the same directors or officers in some instances. Thus, under Section 8, a person may not serve as an officer or director of two non-bank corporations if one of the companies has more than $10 million (adjusted for annual GDP changes) in capital, surplus, and undivided profits and the companies compete so that an agreement between them would eliminate that competition and result in a violation of an antitrust law. An example of a violation of an antitrust law which Section 8 of the Clayton Act is designed to prevent is an agreement between two or more competitors on the prices they charge, which would be a per se illegal agreement under Section 1 of the Sherman Act, 15 U.S.C.S. § 1.More... |
| Limitations on Margin Trading |
| Limitations on Margin TradingMore... |
| Document Retention Programs and the Sarbanes-Oxley Act of 2002 |
| The Sarbanes-Oxley Act of 2002, enacted in response to accounting and corporate scandals, contained provisions that impact document retention practices of corporations. Destruction of records became subject to greater criminal penalties, changes to the federal sentencing guidelines regarding obstruction of justice through document destruction were mandated, and auditors of public companies were given greater record retention obligations. More... |
| The Regulation A Registration Exemption for Small Securities Offerings |
| Under section 3(b) of the Securities Act of 1933, the Securities and Exchange Commission has established Regulation A to exempt small offerings of securities from registration requirements. While the exemption does not relieve a company from its obligation not to use false or misleading statements or from state law requirements, Regulation A allows companies to issue and sell securities with less burden and expense than normally required. More... |
Guild, Russell, Gallagher & Fuller, Ltd.
Business Newsletter
