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Negotiating Permits?

The title of yesterday’s post may have been a bit recondite for some readers as I never directly mentioned negotiating permits in the post.  Therefore, today’s post will back up a bit and fill in some of the missing pieces. As noted yesterday, the California Corporate Securities Law prohibits offers of securities by issuers unless the…

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CalPERS’ Offbeat Personal Trading Policy

Yesterday’s post discussed a news report of an SEC inquiry into insider trading by CalPERS.  Rather than being abashed by this news, CalPERS responded by congratulating itself on having implemented a personal trading policy. As but one example of the muddle that is this policy, CalPERS defines a “Private Placement Vehicle” as an offering of securities…

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Bill Proposes To Allow General Solicitations In California

Previously, I reported on a highly punitive bill, SB 978 (Curren), that would make the limited offering exemption under Section 25102(f) contingent upon the timely filing of a notice of exemption with the Commissioner of Corporations.  Today, I’m happy to report on a more positive legislative proposal. Last Friday, Assembly member Michael Allen introduced AB 2081 to…

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