Acceleration (Securities Act) - Explained
What is Acceleration of approval of the Form S-1 Filing?
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Table of ContentsWhat is Acceleration of a Form S-1 Filing?Example of an Acceleration RequestAcademic Research on Acceleration Under Securities Act
What is Acceleration of a Form S-1 Filing?
In accordance to the to the Securities Act of 1993, an acceleration request is when an issuing company solicits an acceleration of the approval of Form S-1 filing. This request is acknowledged under the 1993 Securities Act. The request is made to the Securities and Exchange Commission in the United States, soliciting a speedy approval of the Form S-1 filing. An acceleration request also seek the acceleration of the efficacy of the registration statement made by the issuing company.
Example of an Acceleration Request
As provided by the Securities Act of 1993, an acceleration request requires that the issuer of securities or company making the request confirms that it is fully aware of its roles as outlined by the act. The following are what the company making the acceleration request acknowledges and confirms;
- that the Commission or its staff declare the filing or registration statement effective, it does not foreclose the Commission from taking any action with respect to the filing;
- that the decision and actions of the Commission or the Staff, acting pursuant to delegated authority, in declaring the filing effective, does not relieve the Registrant from its full responsibility for the adequacy and accuracy of the disclosure in the filing; and
- that the company or registrant may not assert Staff comments and the declaration of effectiveness as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States.
Academic Research on Acceleration Under Securities Act
- Acceleration under the Securities Act of 1933-a Comment on the ABA's Legislative Proposal, Gadsby, E. N., & Garrett Jr, R. (1957). Acceleration under the Securities Act of 1933-a Comment on the ABA's Legislative Proposal. Bus. Law., 13, 718.
- Acceleration under the Securities Act of 1933-a Reply to the Securities and Exchange Commission, Mulford, J. (1958). Acceleration under the Securities Act of 1933-a Reply to the Securities and Exchange Commission. Bus. Law., 14, 156.
- Acceleration under the Securities Act of 1933-A Postscript, Mulford, J. (1966). Bus. Law., 22, 1087. Accelerated equity offers and firm quality, Autore, D. M., Hutton, I., & Kovacs, T. (2011). European Financial Management, 17(5), 835-859.
- SECURITIES ACT OF 1933, FILERS, O. N. A. SECURITIES ACT OF 1933.
- Timetable for Public Financing, A, Backus, D. C. (1961). Timetable for Public Financing, A. Prac. Law., 7, 13.
- SEC Registration of Public Offerings Under the Securities Act of 1933, Barker, W. W. (1996). The Business Lawyer, 65-118.
- The First Public Financing of a Closely-Held Corporation: Securities Act of 1933 Aspects, Duff Jr, G. M. (1966). U. Mo. Kan. City L. Rev., 34, 242.
- Reform of the Federal Securities Laws, Schneider, C. W. (1966). U. Pa. L. Rev., 115, 1023.
- Pushed beyond Bearing Point, Ibrahim, R., Brunner, J., & Walker, I. (2006). Int'l Fin. L. Rev., 25, 66.
- SEC Review: Comfort or Illusion, Poliakoff, A. D. (1987). SEC Review: Comfort or Illusion. U. Balt. L. Rev., 17, 40.
- Development of SEC Practices in Processing Registration Statements and Proxy Statements, Woodside, B. D. (1968). Bus. Law., 24, 375.