On-Demand   On-Demand Web Programs

Securities Offerings 2014: A Public Offering: How It Is Done

Released on: Mar. 28, 2014
Running Time: 07:07:06

Running Time Segment Title Faculty Format
[00:59:15] Introduction to the Law of Securities Offerings Robert Evans III ~ Shearman & Sterling LLP
LizabethAnn R. Eisen ~ Cravath, Swaine & Moore LLP
D. Scott Bennett ~ Cravath Swaine & Moore LLP
On-Demand MP3 MP4
[01:40:54] Working Effectively with the SEC: Preparing Your Registration Statement Pamela A. Long ~ Assistant Director, Division of Corporation Finance, U.S. Securities and Exchange Commission
Joseph H. Kaufman ~ Simpson Thacher & Bartlett LLP
LizabethAnn R. Eisen ~ Cravath, Swaine & Moore LLP
D. Scott Bennett ~ Cravath Swaine & Moore LLP
On-Demand MP3 MP4
[01:01:51] Important Financial Statements and Accounting Disclosures Randol Justice ~ PwC
Joseph H. Kaufman ~ Simpson Thacher & Bartlett LLP
LizabethAnn R. Eisen ~ Cravath, Swaine & Moore LLP
D. Scott Bennett ~ Cravath Swaine & Moore LLP
On-Demand MP3 MP4
[00:59:52] Preparation of Key Securities Offering Documentation David K. Boston ~ Willkie Farr & Gallagher LLP
LizabethAnn R. Eisen ~ Cravath, Swaine & Moore LLP
On-Demand MP3 MP4
[01:43:35] Ethics, Due Diligence and the Offering Process John D. Buretta ~ Cravath, Swaine & Moore LLP
Robert Evans III ~ Shearman & Sterling LLP
David K. Boston ~ Willkie Farr & Gallagher LLP
John Meade ~ Davis Polk & Wardwell LLP
Hannah Greenwald Ross ~ Bernstein Litowitz Berger & Grossmann
LizabethAnn R. Eisen ~ Cravath, Swaine & Moore LLP
On-Demand MP3 MP4

This course will provide a solid understanding of the legal framework for securities offerings under the Securities Act of 1933.  Topics covered include the basics, such as definitions and regulations of “offers” and “sales” of “securities” and the distinctions between public and private offerings, including the need to register public offerings (and how that is done) and basic exemptions from registration.  It will also cover important and ever-evolving topics, such as “working effectively with the SEC,” the current SEC agenda affecting the registration process, including current approaches to disclosure, publicity restrictions and the evolution of the JOBS Act.  The course will also cover the critical financial information that forms the backbone of disclosures in securities offerings, including: annual and interim financial statements, management’s discussion & analysis, the SEC’s rules concerning disclosure of so-called “non-GAAP financial measures” and other developments in disclosure documents.

Lecture Topics 
[Total time 07:07:06]

Segments with an asterisk (*) are available only with the purchase of the entire program.

  • Introduction to the Law of Securities Offerings [00:59:15]
    LizabethAnn R. Eisen, Robert Evans III, D. Scott Bennett
  • Working Effectively with the SEC: Preparing Your Registration Statement [01:40:54]
    LizabethAnn R. Eisen, Joseph H. Kaufman, Pamela A. Long, D. Scott Bennett
  • Important Financial Statements and Accounting Disclosures [01:01:51]
    LizabethAnn R. Eisen, Randol Justice, Joseph H. Kaufman, D. Scott Bennett
  • Preparation of Key Securities Offering Documentation [00:59:52]
    David K. Boston, LizabethAnn R. Eisen
  • Ethics, Due Diligence and the Offering Process [01:43:35]
    David K. Boston, LizabethAnn R. Eisen, Robert Evans III, John Meade, Hannah Greenwald Ross, John D. Buretta

The purchase price of this Web Program includes the following articles from the Course Handbook available online:

  • The Statutory Arrangement for Public and Private Securities Offerings Under the Securities Act of 1933 (June 10, 2013)
    D. Scott Bennett, John W. White, Kimberley S. Drexler, LizabethAnn R. Eisen, William J. Whelan, III, William P. Rogers, Jr.
  • Rules 430A and 424(b) Pricing Mechanics and Changes in Transaction Size (January 6, 2014)
    LizabethAnn R. Eisen
  • U.S. Securities and Exchange Commission, Division of Corporation Finance, Filing Review Process (November 8, 2013)
    LizabethAnn R. Eisen
  • U.S. Securities and Exchange Commission, Division of Corporation Finance Staff Legal Bulletin No. 1 (With Addendum), “Confidential Treatment Requests” (February 28, 1997) (Addendum Included: July 11, 2001)
    Robert Evans III
  • Conflict Minerals Survey: How Companies Are Preparing (July 2013)
    Randol Justice
  • Stay Informed: Industrial Products 2013 SEC Comment Letter Trends (December 2013)
    Randol Justice
  • Preparing for Success: 2013 Technology IPO SEC Comment Letter Trends (November 2013)
    Randol Justice
  • Use of Non-GAAP Financial Measures: An Overview (January 6, 2014)
    Joseph H. Kaufman
  • SEC Guidance Regarding Management’s Discussion and Analysis of Financial Condition and Results of Operations (January 6, 2014)
    Joseph H. Kaufman
  • U.S Securities and Exchange Commission, Interpretation: Commission Guidance Regarding Management’s Discussion and Analysis of Financial Condition and Results of Operations (December 19, 2003)
    Joseph H. Kaufman
  • U.S Securities and Exchange Commission: Non-GAAP Financial Measures, Questions and Answers of General Applicability (July 8, 2011)
    Joseph H. Kaufman
  • Underwriting Arrangements and Documents
    David K. Boston
  • Lawyers as Gatekeepers in the Underwriting Process (March 2014)
    Sarah E. Beshar
  • Confidential Treatment Requests (CTRs) (November 21, 2013) (PowerPoint Slides)
    Robert Evans III

Presentation Material

  • Introduction to the Law of Securities Offerings
    D. Scott Bennett
  • Important Financial Statements and Accounting Disclosures
    LizabethAnn R. Eisen, Randol Justice, Joseph H. Kaufman, D. Scott Bennett
  • Underwriting and Distribution Arrangments
    David K. Boston, LizabethAnn R. Eisen
  • Hedging Interest Rate Risk of Commercial Bank Loans
    LizabethAnn R. Eisen
  • Ethics, Due Diligence & the Offering Process
    LizabethAnn R. Eisen
  • Liability Under the Securities Act: Section 11
    John Meade
  • Due Diligence Red Flags
    Robert Evans III
  • Lawyers as Gatekeepers
    Robert Evans III
Chairperson(s)
LizabethAnn R. Eisen ~ Cravath, Swaine & Moore LLP
Speaker(s)
D. Scott Bennett ~ Cravath Swaine & Moore LLP
David K. Boston ~ Willkie Farr & Gallagher LLP
John D. Buretta ~ Cravath, Swaine & Moore LLP
Robert Evans III ~ Shearman & Sterling LLP
Joseph H. Kaufman ~ Simpson Thacher & Bartlett LLP
Pamela A. Long ~ Assistant Director, Division of Corporation Finance, U.S. Securities and Exchange Commission
John Meade ~ Davis Polk & Wardwell LLP
Hannah Greenwald Ross ~ Bernstein Litowitz Berger & Grossmann

PLI makes every effort to accredit its On-Demand Web Programs and Segments.  Please check the Credit Information box to the right of each product description for credit information specific to your state.


On-Demand Web Programs and Segments
 are approved in:

Alabama1, Alaska, California, Colorado, Delaware, Florida, Georgia, Hawaii, Idaho*, Illinois , Iowa2*, Kansas, Kentucky*, Louisiana, Maine*, Mississippi, Missouri3, Montana, Nebraska, Nevada, New Hampshire4, New Jersey, New Mexico5, New York6,  North Carolina7, North Dakota, Ohio8, Oklahoma9, Oregon*, Pennsylvania10, Rhode Island11, South Carolina, Tennessee12, Texas, Utah, Vermont, Virginia13, Washington, West Virginia, Wisconsin14 and Wyoming*.

Iowa, Mississippi, Oklahoma, and Wisconsin DO NOT approve Audio Only On-Demand Web Programs.


Please Note: The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. PLI programs may qualify for credit based on the requirements outlined in the MCLE Regulations and Ariz. R. Sup. Ct. Rule 45.

*PLI will apply for credit upon request. Louisiana and New Hampshire: PLI will apply for credit upon request for audio-only on-demand web programs.


1Alabama: Approval of all web based programs is limited to a maximum of 6.0 credits.

 

2Iowa:  The approval is for one year from recorded date. Does not approve of Audio-only On-Demand Webcasts.

3Missouri:  On-demand web programs are restricted to six hours of self-study credit per year.  Self-study may not be used to satisfy the ethics requirements.  Self-study can not be used for carryover credit.

 

4New Hamphsire:  The approval is for three years from recorded date.

5New Mexico:  On-Demand web programs are restricted to 4.0 self-study credits per year. 


6New York:  Newly admitted attorneys may not take non-traditional course formats such as on-demand Web Programs or live Webcasts for CLE credit. Newly admitted attorneys not practicing law in the United States, however, may earn 12 transitional credits in non-traditional formats. 

7North Carolina:  A maximum of 4 credits per reporting period may be earned by participating in on-demand web programs. 


8Ohio:  To confirm that the web program has been approved, please refer to the list of Ohio’s Approved Self Study Activities at http://www.sconet.state.oh.us.  Online programs are considered self-study.  Ohio attorneys have a 6 credit self-study limit per compliance period.  The Ohio CLE Board states that attorneys must have a 100% success rate in clicking on timestamps to receive ANY CLE credit for an online program.

9Oklahoma:  Up to 6 credits may be earned each year through computer-based or technology-based legal education programs.


10Pennsylvania:  PA attorneys may only receive a maximum of four (4) hours of distance learning credit per compliance period. All distance learning programs must be a minimum of 1 full hour.
 

11Rhode Island:  Audio Only On-Demand Web Programs are not approved for credit.  On-Demand Web Programs must have an audio and video component.

12Tennessee:  The approval is for the calendar year in which the live program was presented.

13Virginia: All distance learning courses are to be done in an educational setting, free from distractions.

14Wisconsin: Ethics credit is not allowed.  The ethics portion of the program will be approved for general credit.  There is a 10 credit limit for on-demand web programs during every 2-year reporting period.  Does not approve of Audio-only On-Demand Webcasts.


Running time and CLE credit hours are not necessarily the same. Please be aware that many states do not permit credit for luncheon and keynote speakers.


If you have already received credit for attending some or the entire program, please be aware that state administrators do not permit you to accrue additional credit for repeat viewing even if an additional credit certificate is subsequently issued.


Note that some states limit the number of credit hours attorneys may claim for online CLE activities, and state rules vary with regard to whether online CLE activities qualify for participatory or self-study credits. For more information, call Customer Service (800) 260-4PLI (4754) or e-mail info@pli.edu.

 
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