Judge Leigh May
Legal

Ironridge Wins Ruling Against SEC’s Use of Administrative Courts

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A judge ruled that the Securities and Exchange Commission can not use its own administrative court to  pursue its securities law charges against emerging growth company financier Ironridge Global Partners, dealing a setback to the SEC’s frequent use of administrative law proceedings that some argue are unconstitutional. The Nov. 17 ruling by Judge Leigh Martin May, of the U.S. District Court in Atlanta, forced the commission to withdraw subpoenas and cancel an administrative law hearing that had been scheduled for Dec. 7. The SEC has 60 days to file with the 11th Circuit Court of Appeals in Atlanta to try to overturn Judge May’s ruling.

News

SEC Approves JOBS Act Crowdfunding Rules

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It’s official: small companies will soon be able to sell equity to anyone, as long as the sales are executed through a regulated Internet portal or broker-dealer.

It took the Securities and Exchange Commission three-and-a-half years to finalize and pass rules to enact Title III of the Jumpstart Our Business Startups Act, which will allow businesses to sell stock through online crowdfunding campaigns. Those rules still will not take effect until 180 days after