Corporate Law Blog

Partial Dodd-Frank Rollback Should Help Kentucky Community Banks

As many of us in the banking industry know, Dodd-Frank, which was passed in 2010 as a response to the global financial crisis, may have ultimately served as more of a machete in quick response to a situation that needed a scalpel. Our community banks especially were caught in the crossfire of the new patchwork of regulation. These regulations effectively hobbled the ability of these banks to lend due to the cost-prohibitive expense of compliance for mortgage lending. This took a toll on our banks, many of whom served rural areas in Kentucky and were best situated to make these loans to our local communities. More >

Congress Moves to Expand Definition of “Accredited Investor” Under Regulation D

In an era where Congress and the Securities and Exchange Commission (“SEC”) have been working to break down barriers to investment and equity development, it only makes sense a new bill currently wending its way through the legislative process would expand the definition of an “accredited investor.” H.R. 2187, The Fair Investment Opportunities for Professional Experts Act (“the Act”), passed the United States House of Representatives by a vote of 347 to 8 in February and now resides in the Senate. This effort would widen the pool of investors for private placements under Section 501(a) of Regulation D[1] by including those with experience and education in addition to those with a requisite net worth or salary.

[1] 17 C.F.R. § 230.500 et seq. More >