Hoping the Investor Threshold Will Change? Good Luck
Recently, Goldman Sachs tried to get cute with a nearly 50-year-old law that requires private companies with more than 499 shareholders to publicly report their financial results. (As Goldman was publishing a 63-page document about amending its business practices, it tried to make the argument that its syndicate of U.S. investors should only count as one shareholder because only Goldman would be managing the investment bloc.) Goldman’s hubris has called attention to the need for federal regulation of the private markets. And that may not be such a bad thing.
20 January 2011•2 mins read
