Zick, Voss & Politte, P.C., lawyers in Washington, MO, Missouri

Investment Adviser Reporting Requirements

Investment advisers must file Form ADV with the Securities and Exchange Commission or with state offices for regulating securities. Investment advisers who manage $25 million or more in client assets must file the form and register with the Securities and Exchange Commission. Advisers managing smaller amounts of assets must file Form ADV with state securities regulators.More...

Federal Antitrust Actions by States

States are "persons" within the meaning of the Clayton Act and are entitled to bring actions on their own behalf for damages resulting to State property from violation of provisions of federal antitrust laws. For example, a state may bring a federal antitrust action for treble damages against companies that agreed on what bids would be made on a state construction project.More...

Directors' Reliance on Corporate Books and Records

When directors perform their corporate responsibilities, the duty of care requires them to exercise the care that an ordinary prudent person would exercise in the management of his or her own affairs under similar circumstances. To be able to invoke the protections of the business judgment rule, directors must make informed business decisions. More...

The Rule 505 Exemption from Registration Requirements for Small Securities Offerings

Before selling shares of stock to the public, a company normally must file a detailed registration statement with the Securities and Exchange Commission. The usual registration statement must contain a prospectus with audited financial statements and other information required for review by Commission staff. However, several exemptions from registration requirements are available for stock offerings that are of lesser value or sold to restricted categories of purchasers. More...

Restrictions on Short Sales of Securities

A short sale of a security is a sale of the security by an investor before the investor actually owns the security being sold. The investor profits if the value of the security declines between the time of the sale and the time of delivery of the security. Short sales may also allow an investor to lock in changes in value shares already held or to hedge against significant changes in value in securities.More...