16 December 2015
The Fixing America’s Surface Transportation Act (FAST Act), which was signed into law on December 4, 2015, contains several securities law-related provisions. Among other things, these provisions give more flexibility to emerging growth companies and establish a new private resale exemption. Some of these provisions take effect immediately or in the near future, while others will require SEC rulemaking before they can be implemented. Several also require the SEC to assess and make recommendations to modernize and simplify Regulation S-K, which is a long-term project with deadlines over the next two years. We review these securities law-related provisions and discuss their practical impact.