Monthly Archives: July 2012

Many clients want to know whether their promissory notes are securities. If they are securities, then the securities laws procedures have to be followed when the notes are issued. If they are not securities, then there is no need for … Continue reading →

Several securities-offering exemptions allow “sophisticated investors” to invest. The question is how to determine when potential investors are sophisticated. Federal Rule 506 offerings (and the California 25102(f) offering) allow a class of “sophisticated investors”, meaning sophisticated in terms of investments. … Continue reading →