With retrogression looming, it is a good time for a quick primer on priority dates and the information contained on an I-526 petition approval. U.S. federal law caps the number of EB-5 visas that are available each fiscal year at 10,000. When an EB-5 investor files an I-526 Petition, the day his or her I-526… Continue Reading
Monthly Archives: January 2015
Congressmen Polis (D-CO) and Amodei (R-NV) Introduce Bipartisan Legislation to Permanently Authorize the EB-5 Program
Posted in EB-5 Program, Immigrant Investor, Immigrant VisaOn Jan. 28, 2015, Congressmen Jared Polis (D-CO) and Mark Amodei (R-NV) introduced the American Entrepreneurship and Investment Act of 2015, which seeks to update and permanently authorize the EB-5 Immigrant Investor visa program. The bipartisan measure follows long-standing calls from numerous groups in the commercial, residential, hospitality, retail, and real estate industries to make… Continue Reading
USCIS Publishes List of Terminated EB-5 Regional Centers
Posted in Regional Center, USCISOn Jan. 13, 2015, USCIS established a webpage which lists the EB-5 regional centers which have had their designations terminated. The full webpage can be accessed here. This is a strong and important step from USCIS to help eradicate fraud and abuse in the EB-5 regional center program, as well as to terminate regional centers… Continue Reading
SEC Proposes Changes to Exchange Act Registration Requirements
Posted in Securities LawWritten by Rebecca G. DiStefano On Dec. 18, 2014, the Securities and Exchange Commission proposed amendments to current rules under Section 12(g) of the Securities Exchange Act of 1934, as amended (the Exchange Act) that would implement provisions of Titles V and VI of the Jumpstart Our Business Startups Act (the JOBS Act). In this… Continue Reading
Greenberg Traurig EB-5 Group Presents at Second Annual Las Vegas EB-5 Conference
Posted in EventsGreenberg Traurig EB-5 attorneys, Kate Kalmykov and Laura Reiff, were moderators at the second annual Las Vegas EB-5 Conference, hosted by EB-5 Investors Magazine at the Wynn Encore Resort in Las Vegas, Nev., this past weekend. The event provided valuable information on various EB-5 topics such as regional center issues, using EB-5 for financing or immigration… Continue Reading
OCIE Releases 2015 Examination Priorities
Posted in Securities LawWritten by Richard M. Cutshall and Arthur Don On Jan. 13, 2015, the SEC’s Office of Compliance Inspections and Examinations released its annual list of examination priorities for 2015. This GT Alert provides an overview of the examination priorities, and highlights how most securities industry participants – registered investment advisers, broker-dealers, registered investment companies and… Continue Reading
New FINRA Rule Addresses Payments to Unregistered Persons
Posted in Securities LawWritten by Richard M. Cutshall and Steven M. Felsenstein The role of the Financial Industry Regulatory Authority (FINRA) regarding payments to unlicensed persons for securities-related and capital-raising activities has expanded. This GT Alert gives an overview of the FINRA Rule 2040 (approved by the SEC on Dec. 30, 2014) which governs when and how registered… Continue Reading
New Background Check Obligations on the Horizon for Securities Broker-Dealers
Posted in Securities LawWritten by Richard M. Cutshall, Steven M. Felsenstein, and Carl A. Fornaris On Dec. 30, 2014, the SEC approved a proposed rule change pursuant to which FINRA is adopting a revised version of NASD Rule 3010(e) concerning background investigations of proposed registered representatives and adding a new obligation for member firms’ written supervisory procedures to require… Continue Reading
Ranking the Top EB-5 Countries by US Immigrant Visa Issuance
Posted in Immigrant VisaThe following is a ranking of the top EB-5 countries ranked according to the number of EB-5 visas issued in the 2014 fiscal year. Inclusion in the list below was determined by countries which had double digits during the 2013 or 2014 fiscal years. For comparison, the number of EB-5 visas issued in the 2013… Continue Reading
Greenberg Traurig Expands Asia Practice, Opens Office in Tokyo
Posted in GeneralInternational law firm Greenberg Traurig, LLP announced this week the opening of a new office in Tokyo, Japan. The Tokyo office is the firm’s third in the Asia region and will work collaboratively with existing teams in Shanghai, China and Seoul, Korea. As Greenberg Traurig’s 37th office worldwide, Greenberg Traurig Tokyo Law Offices will be operated by Greenberg Traurig Horitsu Jimusho, an affiliate of Greenberg… Continue Reading