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ARTICLE · 18 JANUARY 2016

How The FAST Act Will Impact Securities Laws

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On December 4, 2015, the Fixing America's Surface Transportation Act (the FAST Act) was signed into law.

United StatesCorporate/Commercial Law
Foley Hoag LLP
Foley Hoag LLP
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On December 4, 2015, the Fixing America’s Surface Transportation Act (the FAST Act) was signed into law. Although the majority of the Act concerns transportation and infrastructure, it also contains several provisions that affect securities laws. These provisions include (1) amendments to the initial public offering (IPO) process established under the JOBS Act for emerging growth companies (EGCs), (2) a new statutory exemption for the private resale of securities by shareholders, and (3) requirements for the Securities and Exchange Commission to streamline and improve disclosure requirements.

Facilitating the IPO Process for EGCs

The FAST Act amended the IPO process for an EGC in three areas:

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