July 14, 2020

Volume X, Number 196

July 13, 2020

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DBO Urges Securities/Franchise Filers To Use DocQNet

In the plethora of notifications concerning the Covid-19 (coronavirus) issued various government agencies, this one from the California Department of Business Oversight could easily be overlooked.  The gist of the DBO's message is for securities and franchise filers to use the department's online portal - DocQNet.  The DBO also advises:

"For paper filings eligible for automatic effectiveness, the Department requests that filers acknowledge in their transmittal letter a waiver of automatic effectiveness to avoid the issuance of a stop order preventing automatic effectiveness in California and to acknowledge that their application will be made effective on the date designated by Department order. Additionally, to provide greater flexibility for users, the following procedures are effective immediately:

  • The Department will accept documents filed on DocQNet that are signed electronically using e-signature software, such as DocuSign, in which case notarization of signatures will not be required.

  • Through June 30, 2020, the Department will waive the additional $225.00 filing fee for franchise renewals that are filed after the franchise registration has lapsed."

Finally, what would a government notification be without a warning?  The DBO's notice ends with this caution:  "These temporary accommodations do not change any existing laws or regulations and are subject to change or withdrawal."

© 2010-2020 Allen Matkins Leck Gamble Mallory & Natsis LLP National Law Review, Volume X, Number 86


About this Author

Keith Paul Bishop, Corporate Transactions Lawyer, finance securities attorney, Allen Matkins Law Firm

Keith Paul Bishop is a partner in Allen Matkins' Corporate and Securities practice group, and works out of the Orange County office. He represents clients in a wide range of corporate transactions, including public and private securities offerings of debt and equity, mergers and acquisitions, proxy contests and tender offers, corporate governance matters and federal and state securities laws (including the Sarbanes-Oxley Act of 2002 and the Dodd-Frank Act), investment adviser, financial services regulation, and California administrative law. He regularly advises clients...