Tag: Securities Act Section 5

Corp Fin OKs technical modification of process for offers and sales in IPOs

by Cydney Posner In a new no-action letter to Morgan Stanley, Corp Fin agreed that, as outlined in the request letter, the firm’s proposed procedures for offering and selling securities in IPOs would not involve a pre-effective sale for purposes of Section 5(a) of the Securities Act. Essentially, the modified […]

New CDI regarding investments through a self-directed “brokerage window” under a 401(k)

by Cydney Posner Today, Corp Fin posted a new CDI under both Securities Act Section 5 and Form S-8.   The CDI involves the issue of whether a company-sponsored 401(k) plan that does not offer an employer securities fund as an investment alternative might still be deemed to be offering employer […]