Outline

1. Analysis of JOBS Act exemption from broker-dealer registration and broker-dealer registration generally
2. Analysis of the issuer exemption and the Investment Advisers Act
3. Analysis of SEC no-action letter
4. Key take-aways for moving forward.

Benefits

The panel will review these and other key issues:

• Scope of JOBS Act exemption from broker-dealer registration
• When broker-dealer registration is required
• Take-aways from SEC’s no-action letters to AngelList and FundersClub
• Discussion of the issuer exemption and Investment Adviser’s Act.