FAST Act Amendments to the U.S. Securities Laws

December 16, 2015

On December 4, 2015, President Obama signed into law the FAST Act, which, among other legislation in its 1300+ pages, includes several bills designed to facilitate the offer and sale of securities. In this memorandum we focus on two of those bills. The first provides additional accommodations related to the SEC registration process for “emerging growth companies,” a category of issuer established by the JOBS Act in 2012. The second creates a non-exclusive safe harbor under Section 4 of the Securities Act for resales of securities that meet the conditions of the safe harbor.