Venture Briefing: October 18, 2017 Venture Briefing: October 18, 2017

Venture Briefing: October 18, 2017

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Third Quarter P.E. Fundraising Slowed, But Growth Still Possible
The flood of capital pouring into private equity slowed in the third quarter, though the industry remains on track for a record fundraising year, according to Preqin. Over the last three months, 181 private equity funds raised a total $95 billion based on preliminary data, a 31 percent drop from $138 billion in the second quarter, Preqin said in a report.
(Source: Institutional Investor, 2017-10-03) Read the full article
Venture Capitalists Spending More, But Funding Fewer Companies
There was $18.68 billion raised in 1,043 venture capital deals in the third quarter of this year, according to the Venture Capital Report from Dow Jones VentureSource. The amount raised rose six percent, representing the third quarter in a row of increasing dollars. But the number of deals went in the opposite direction, dropping six percent quarter-to-quarter.
(Source: Vator News, 2017-10-12) Read the full article
Research Shows IPOs Underpriced Due to JOBS Act
The Jumpstart Our Business Startups Act, or JOBS Act, is causing initial public offerings to leave cash on the table, according to new research, because fewer mandatory disclosures create wary investors that demand bigger post-IPO share price pops. All three measures of underpricing -- market-adjusted stock returns based on the offer price and the closing price on the day of the IPO, the closing price on the day after the IPO, and the closing price 30 trading days after the IPO -- are larger for emerging growth companies, or ECGs.
(Source: MarketWatch, 2017-10-12) Read the full article
House OKs Legislation to Boost Cybersecurity for Small Businesses
The House approved legislation that would require the federal government to produce and disseminate guidance to help small businesses with cybersecurity. The legislation would require the National Institute of Standards and Technology (NIST), a nonregulatory standards laboratory housed in the Commerce Department, to produce cybersecurity resources for small businesses.
(Source: The Hill, 2017-10-11) Read the full article
SEC Moves to Ease Disclosure Requirements for Public Companies
The U.S. Securities and Exchange Commission has moved a step closer toward lightening the compliance burden on public companies by simplifying disclosure requirements. The Fixing America's Surface Transportation (FAST) Act of December 2015 directed the SEC to modernize and simplify the requirements of Regulation S-K.
(Source: CFO.com, 2017-10-12) Read the full article
Report Says EDGAR Could be at Risk of 'Denial of Service' Attacks
The U.S. Securities and Exchange Commission, Wall Street's top regulator, has discovered a vulnerability in its corporate filing database that could cause the system to collapse, according to an internal document seen by Reuters. The SEC's memo reveals that its EDGAR database, containing financial reports from U.S. public companies and mutual funds, could be at risk of "denial of service" attacks, a type of cyber intrusion that floods a network, overwhelming it and forcing it to close.
(Source: Reuters, 2017-10-06) Read the full article
Repercussions of CEO-Employee Pay Ratios Disclosure Concern Firms
Employers say they're worried about workers' reactions when they begin to report CEO-employee pay ratios next year, according to a Willis Towers Watson (WTW) poll. ​A new U.S. Securities and Exchange Commission (SEC) rule requires publicly held companies to disclose CEO-to-worker pay ratios. WTW polled 360 executives and compensation experts last month, and roughly half said that forecasting how their employees will react to the ratio disclosure is their number one implementation challenge for the rule.
(Source: HR Dive, 2017-10-06) Read the full article
Investors Pressure Employers on Gender-Pay Equity, Paid Leave
For years, investors surmised that having enough women on boards and in senior management would produce fairer policies. Now investors are changing tactics, saying it's not enough and that employers also need to implement gender-pay equity and paid-leave policies that attract and retain women.
(Source: Bloomberg, 2017-10-02) Read the full article
More Women Starting Businesses to Take Control of Their Careers
An increasing number of women are starting businesses as a way to take control of their careers. In part, female entrepreneurship is on the rise because gender equality efforts in the workplace to address issues like the salary gap and advancement to positions on corporate boards have stalled.
(Source: The New York Times, 2017-10-03) Read the full article
 
 
 
Headlines
SEC Cybersecurity 2 Initiative: Lessons and Guidance

In August 2017, the Office of Compliance Inspections and Examinations of the U.S. Securities and Exchange Commission (“SEC”) announced the results of its most recent cybersecurity examination initiative, the Cybersecurity 2 Initiative (the “Initiative”). Read full article online.

 

LiveCLE - Ohio State Bar Association Banking Law Update

Ice Miller is a sponsor of the LiveCLE - Ohio State Bar Association Banking Law Update on Wednesday, Nov. 15, 2017. This program is worth 3.0 CLE credit hours.

For more information, click here or call 800.232.7124.

 

Business
Services Group

Ice Miller has been one of the most active law firms in the private equity industry over the last decade, representing both entrepreneurs building great companies and the private equity firms and individuals that invest in them.  We have extensive experience with all types of funds (formations and operations); mezzanine and senior secured financing; leveraged buyouts, roll-ups, build-ups, and consolidations; divestitures and exits; and complex litigation on behalf of investors and privately financed companies.  In addition, over the past 10 years, Ice Miller has represented hundreds of emerging growth businesses in various industries on such matters as entity formation, capitalization, capital raising, alternative financing, intellectual property rights and protection, growth and exit strategies, corporate governance, tax matters, and many other legal issues that are critical to the growth and success of an emerging company.

Read the complete profile of the Business Group.

Anthony Aaron
Fitz Angrand
James Banister
Richard Barnhart
Samuel Beavers
Christopher Bordoni
Edward Braum
Elizabeth Brier
Adam Calisoff
Kristine Camron
Timothy Capen
Joshua Christie
Ryanne Bush Dent
Jack Dillon
Dustin DuBois
Stephen Edwards
Michael P. Farrell
Jenny Frasier
Harry Gonso
Eric Goodman
Jon Groff
Stephen Hackman
David Hight
Paul Huddle
Steven Humke

Michelle Jensen
Michael Jordan
Josef Keglewitsch
Tom Kesoglou
Dean Leffelman
Kristen Maiorino
Christopher McCleary
Chris Michael
Laurie Miller
Michael Millikan
Robert Ouellette
Thomas Pampush
Megan Ryther
Audrey Schricker
Matthew Servies
Brent Showalter
Scott Snively
Dale Stackhouse
Emily Storm-Smith
Chase Stuart
John Thornburgh
Richard Thrapp
Kristina Tridico
Nancy Valentine

 

 
     
This publication is intended for general information purposes only and does not and is not intended to constitute legal advice.  The reader must consult with legal counsel to determine how laws or decisions discussed herein apply to the reader's specific circumstances.
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