On July 31, 2019, the SEC and North American Securities Administrators Association published a staff statement on “opportunity zones” and related compliance implications under federal and state securities laws considerations.
In general, the statement indicated that interests in a “qualified opportunity zone” (QOF), which is an investment vehicle organized as a corporation or partnership to invest in qualified opportunity zone property, will be considered securities within the purview of federal and state securities laws, except under limited circumstances.
As such, QOF offerings are required to be registered with the SEC and applicable states, provided an exemption from registration is not available. Similarly, there may be broker and investment company registration requirements for QOFs.
For more information, the statement issued by the SEC and NASAA can be found here.
- Partner
Mark Reuter advocates for business clients in transactions, proceedings and conflicts regulated by federal and state securities laws and stock exchange rules. A partner in the firm’s Business Representation & Transactions ...
- Partner
As a partner in the firm’s Business Representation & Transactions Group, Allie Westfall’s insight and proven analytical skills help translate the complexities of the often-challenging securities laws. Allie’s counsel ...
- Partner
Chris Brinkman practices in the firm's Business Representation & Transactions Group with a concentration in venture capital transactions, start-ups & growth companies, securities, and mergers and acquisitions.
Chris ...
Topics/Tags
Select- SEC
- Securities Regulation
- Securities Law
- Corporate Transparency Act
- Cybersecurity and Privacy Law
- Clawback Rules
- Nasdaq
- House Settlement
- NCAA
- NIL
- Sports
- Corporate Law
- IRS
- Coronavirus
- Tax Planning
- Cybersecurity Regulation
- EDGAR
- EDGAR Next
- SEC Enforcement
- Taxation
- Dodd-Frank
- Mergers & Acquisitions
- Paycheck Protection Program
- JOBS Act
- Corporate Tax
- Corporate Governance
- FAST Act
- Consumer Protection Act
- Economic Sanctions
- Ohio LLC Act
- Proxy Access Rules
- Securities Litigation
- Crowdfunding
- Conflict Minerals
- Cryptocurrency
- Hedging
- Real Estate Law
- Emerging Growth Companies
- Investors
- Pay Ratio Disclosure
- Whistleblower
- Private Offerings
- Intellectual Property
- Technology
- Opportunity Zone
- LIBOR
- Executive Compensation
- Health Care Act
- Accredited Investors
- Sales Tax
- United States Supreme Court
- Online Trading Platforms
- Wall Street Reform
- IPO
- Registration Statement
- Annual Reports
- Family-Controlled Entities
- Gift and Estate Transfers
- Ohio Foreclosure Reform
- Director Compensation
- Board of Directors
- Director Independence
- Cyber Insurance
- Data Breach
- Regulation A
- Regulation D
- Total Shareholder Return
- Lenders
- Receivership Statute
- Compensation Committee Certification
- CDEs
- CDFI Fund
- Community Development Entities
- Community Development Financial Institutions Fund
- Government Shutdown
- New Markets Tax Credit
- NMTC
- NMTC Financing
- Regulation Fair Disclosure
- Social Media
- Benefits
- Healthcare Reform
- Litigation
- Marketing
- Public Company Transition Rules
- Employment Incentives
- HIRE Act
- Social Security Tax
- Tax Credit
Recent Posts
- Ninth Circuit Warning: Silence in the Face of SEC Comment Letters May Bolster Section 12(a)(2) Claims
- House Settlement Approved: College Sports Transition into a New but Familiar Legal Era
- Checking the Box(es): SEC Issues New Guidance Clarifying Clawback Expectations
- Pay vs. Performance and Cybersecurity Disclosure Rules: Will the SEC Retract Rulemaking?
- Corporate Transparency Act Update: FinCEN Eliminates Reporting Obligations for U.S. Companies and U.S. Persons
- Corporate Transparency Act Update: FinCEN Will Not Enforce the CTA Until Interim Rule is Effective
- Corporate Transparency Act Update: Injunction Lifted - Corporate Transparency Act Back in Effect
- Corporate Transparency Act Update: FinCEN Says Reporting Obligations Remain On Hold
- Next Up in 2025: EDGAR Next
- Corporate Transparency Act Update: Supreme Court Stays Nationwide Injunction – CTA Reporting Obligations Back in Effect