SEC Eyes Tougher Stance On Silicon Valley, Pre-IPO Market
Law360, New York (April 7, 2016, 10:07 PM EDT) -- As the U.S. Securities and Exchange Commission steps up scrutiny of private market transactions, attorneys expect stronger policing of pre-initial public offering trading via secondary platforms and potentially a closer look at the private companies themselves.
That heightened attention, signaled in recent speeches by SEC Chair Mary Jo White and Enforcement Division Director Andrew Ceresney in California, comes amid a boom in the loosely supervised private securities market as richly valued companies stay private longer.
Following the officials' appearances in Silicon Valley, where many high-flying private companies are based, Fenwick & West LLP partner Mike Dicke said his phone has been...
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