Morrison & Foerster LLP
Carrie Cohen is an expert in public corruption and state and local government who made a name for herself by prosecuting former Assembly Speaker Sheldon Silver. At Morrison & Foerster – or MoFo – she has assisted the New York City Council in investigations into the behavior of several members, the Metropolitan Transportation Authority in a review of overtime practices, and a Rochester City Council probe into the death of Daniel Prude.
54. David Patton
Executive Director and Attorney-in-Chief, Federal Defenders of New York
A federal defender for nearly 20 years, David Patton in 2011 became the executive director and attorney-in-chief of the Federal Defenders of New York, a group that provides representation to those in need. During the coronavirus pandemic, Patton has been representing prisoners who are at high risk of catching the disease, telling Slate that the response by “prosecutors and prison officials to COVID-19 has been hard to fathom.”
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In December 2020, New York adopted new rules to update its blue sky securities registration requirements as part of an ongoing effort to “streamline and enhance the oversight of the securities industry in New York,” modernize regulation, and harmonize New York regulations with federal and national standards.[i] Under the new rules, effective February 1, 2021, issuers selling “covered securities” under Regulation D (“Reg D”) in New York must provide notice to the State by filing a Form D through the North American Association of Securities Administrators Electronic Filing Depository (“EFD”).
Thursday, December 17, 2020
New York recently adopted new regulations that redefine the categories of “dealer” that would require mandatory notice and fee filings. The new regulations outline that the following issuers selling securities will be “dealers” (Dealers) under the New York Martin Act, and will be subject to new filing requirements, with mandatory compliance effective Feb. 1, 2021:
Federal Covered Regulation D Dealers
Federal Tier 2 Dealers
Federal Covered Investment Company Dealers
All other dealers that are issuers not falling under Section 359-e(1)(a) definition1 of dealer that issue real estate securities, and/or are not defined as any of the Dealers listed above, will be required to file the Form M-11, unless an available exemption from filing the Form M-11 is available and written application for the exemption is submitted.
Eliminates Certain Form 99 Filings with the Investor
Protection Bureau of the Department of Law
Background
Regulation D under the U.S. Securities Act of 1933, as amended
(the 1933 Act ), permits the sale of securities by
issuers of those securities without registration under the 1933
Act.
1 An issuer claiming an exemption under
Regulation D must electronically file Form D with the U.S.
Securities and Exchange Commission (the SEC), thereby notifying the
SEC of the Regulation D offering, no later than 15 calendar days
after the first sale of securities in the offering.
2
Under Section 18 of the 1933 Act
3, any private
placement made in accordance with Rule 506 of Regulation D will