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From http://dealbook.nytimes.com/2011/01/03/facebook-and-the-500-person-threshold/ http://dealbook.nytimes.com/2011/01/03/facebook-and-the-500-...: The Securit
by javanix 16y ago
From http://dealbook.nytimes.com/2011/01/03/facebook-and-the-500-person-threshold/ http://dealbook.nytimes.com/2011/01/03/facebook-and-the-500-...:
The Securities Exchange Act of 1934 sets forth certain requirements for companies to register their shares with the S.E.C.
Specifically, Section 12(g) requires that a company register its securities with the S.E.C. if it “has total assets exceeding $1,000,000 and a class of equity security … held of record by five hundred or more … persons…”
Sounds to me like this law has been around for a while.
- tokenadult 16y agoThat statement might mean, "The Securities Exchange Act of 1934 as amended," because laws are often named by their original date of enactment, but amended subsequently.
- Symmetry 16y agoThat law has but Sarbanes-Oxely, which has caused Facebook to avoid an IPO and Google not to, was much more recent.