Richard W. Jones

Mr. Jones is an attorney with the Atlanta,Georgia law firm of Jones & Haley,P.C. Mr. Jones concentrates his practice on securities law matters,such as public offerings,IPO's,private placements,SEC compliance,broker/dealer and investment adviser regulation and hedge funds. For further information go to

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SEC Approves Crowd Funding – Sort Of


All those lovers of crowd funding can now cheer. The SEC has passed rules that allow companies to raise capital through the use of crowd funding techniques. But did the crowd funding proponents really get what they wanted from these rules? Not exactly. Let’s examine the new rules,and you will see what [...]

SEC Changes Course and Allows Business Brokers to Receive Commissions on Business Stock Sales

Prior to 1985,the SEC did not consider the sale of a business structured as a stock sale to be a sale of securities under the securities laws. This was known as the Sale of Business Doctrine. As a result,the penalties and rules that apply to securities sales did not apply to the sale [...]

Advertising and General Solicitations Now Allowed Under Regulation D Offerings

The SEC developed Regulation D to apply to private placement securities offerings and as a result,Regulation D has historically prohibited any form of general solicitation. The term “general solicitation” in this context means advertising,television commercials,seminars,email broadcasts,junk mail solicitation,and other means of getting your message out to a large number [...]

SEC Adopts New Rules on the Use of Social Media by Public Companies

Over the years the SEC has passed many rules and regulations designed to prevent public companies from targeted or narrow disclosures of material facts. These rules and regulations usually arose in the context of managements discussions with analysts,which,by its nature,excluded the general public. The SEC wants public companies to make [...]

The New JOBS Act —Raising the Mandatory Registration Requirements

In April 2012,Congress passed the Jumpstart Our Business Startups Act (the “JOBS Act” or “Act”). The purpose of the JOBS Act was to reduce the regulatory burdens on businesses in order to allow them to create more jobs. Most of the provisions of the JOBS Act went into effect immediately when the President signed [...]

SEC Applies “Bad Boy” Rules to Regulation D Offerings

Last year the US Securities and Exchange Commission proposed a new rule that would disqualify “bad actors” from using Rule 506 of Regulation D. This is not a new concept,Rule 262 of Regulation A already has a “bad boy” disqualification,and many states also prohibit “bad boys” from using their exemptions. However,[...]