VC Law: Episode 20: A Discussion of the SEC’s Proposed Disclosure Rules for Private Companies with Professor Alexander Platt of the University of Kansas

Host Gary J. Ross and Alexander Platt, associate professor of law at University of Kansas, discuss proposed changes to mandatory disclosure requirements for large private companies, a/k/a “unicorns.” These include changes to Section 12(g) of the 1934 Exchange Act, first proposed by ex-SEC commissioner Allison Herren Lee in 2021, as well as changes to Regulation D offerings suggested earlier this year by SEC commissioner Caroline Crenshaw. Prof. Platt talks about whether either of these changes can be made without explicit Congressional authorization, and delves into the potential real-world impact of these changes.