Tag Archives: Direct Listing

The Securities Act of 1933: A Textual Approach to Direct Listings

HARRIS BLUM—Congress enacted the Securities Act of 1933 to implement a full and fair disclosure regime in connection with public offerings of stock. The Act’s linchpin is its registration requirement, which forces companies (“issuers”) to file a registration statement with the SEC before selling shares to the public. A registration statement contains extensive disclosure about […]