{"version":"1.0","provider_name":"Seward &amp; Kissel LLP","provider_url":"https:\/\/www.sewkis.com","author_name":"behnke","author_url":"https:\/\/www.sewkis.com\/author\/behnke\/","title":"DFPI Suspends Implementation and Enforcement of Venture Capital Company Reporting Regime - Seward &amp; Kissel LLP","type":"rich","width":600,"height":338,"html":"<blockquote class=\"wp-embedded-content\" data-secret=\"QvRZebkIbH\"><a href=\"https:\/\/www.sewkis.com\/publications\/dfpi-suspends-implementation-and-enforcement-of-venture-capital-company-reporting-regime\/\">DFPI Suspends Implementation and Enforcement of Venture Capital Company Reporting Regime<\/a><\/blockquote><iframe sandbox=\"allow-scripts\" security=\"restricted\" src=\"https:\/\/www.sewkis.com\/publications\/dfpi-suspends-implementation-and-enforcement-of-venture-capital-company-reporting-regime\/embed\/#?secret=QvRZebkIbH\" width=\"600\" height=\"338\" title=\"&#8220;DFPI Suspends Implementation and Enforcement of Venture Capital Company Reporting Regime&#8221; &#8212; Seward &amp; Kissel LLP\" data-secret=\"QvRZebkIbH\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" class=\"wp-embedded-content\"><\/iframe><script type=\"text\/javascript\">\n\/* <![CDATA[ *\/\n\/**\n * WordPress inline HTML embed\n *\n * @since 4.4.0\n * @output wp-includes\/js\/wp-embed.js\n *\n * Single line comments should not be used since they will break\n * the script when inlined in get_post_embed_html(), specifically\n * when the comments are not stripped out due to SCRIPT_DEBUG\n * being turned on.\n *\/\n(function ( window, document ) {\n\t'use strict';\n\n\t\/* Abort for ancient browsers. *\/\n\tif ( ! document.querySelector || ! window.addEventListener || typeof URL === 'undefined' ) {\n\t\treturn;\n\t}\n\n\t\/** @namespace wp *\/\n\twindow.wp = window.wp || {};\n\n\t\/* Abort if script was already executed. *\/\n\tif ( !! window.wp.receiveEmbedMessage ) {\n\t\treturn;\n\t}\n\n\t\/**\n\t * Receive embed message.\n\t *\n\t * @param {MessageEvent} e\n\t *\/\n\twindow.wp.receiveEmbedMessage = function( e ) {\n\t\tvar data = e.data;\n\n\t\t\/* Verify shape of message. *\/\n\t\tif (\n\t\t\t! ( data || data.secret || data.message || data.value ) ||\n\t\t\t\/[^a-zA-Z0-9]\/.test( data.secret )\n\t\t) {\n\t\t\treturn;\n\t\t}\n\n\t\tvar iframes = document.querySelectorAll( 'iframe[data-secret=\"' + data.secret + '\"]' ),\n\t\t\tblockquotes = document.querySelectorAll( 'blockquote[data-secret=\"' + data.secret + '\"]' ),\n\t\t\tallowedProtocols = new RegExp( '^https?:$', 'i' ),\n\t\t\ti, source, height, sourceURL, targetURL;\n\n\t\tfor ( i = 0; i < blockquotes.length; i++ ) {\n\t\t\tblockquotes[ i ].style.display = 'none';\n\t\t}\n\n\t\tfor ( i = 0; i < iframes.length; i++ ) {\n\t\t\tsource = iframes[ i ];\n\n\t\t\tif ( e.source !== source.contentWindow ) {\n\t\t\t\tcontinue;\n\t\t\t}\n\n\t\t\tsource.removeAttribute( 'style' );\n\n\t\t\tif ( 'height' === data.message ) {\n\t\t\t\t\/* Resize the iframe on request. *\/\n\t\t\t\theight = parseInt( data.value, 10 );\n\t\t\t\tif ( height > 1000 ) {\n\t\t\t\t\theight = 1000;\n\t\t\t\t} else if ( ~~height < 200 ) {\n\t\t\t\t\theight = 200;\n\t\t\t\t}\n\n\t\t\t\tsource.height = height;\n\t\t\t} else if ( 'link' === data.message ) {\n\t\t\t\t\/* Link to a specific URL on request. *\/\n\t\t\t\tsourceURL = new URL( source.getAttribute( 'src' ) );\n\t\t\t\ttargetURL = new URL( data.value );\n\n\t\t\t\tif (\n\t\t\t\t\tallowedProtocols.test( targetURL.protocol ) &&\n\t\t\t\t\ttargetURL.host === sourceURL.host &&\n\t\t\t\t\tdocument.activeElement === source\n\t\t\t\t) {\n\t\t\t\t\twindow.top.location.href = data.value;\n\t\t\t\t}\n\t\t\t}\n\t\t}\n\t};\n\n\tfunction onLoad() {\n\t\tvar iframes = document.querySelectorAll( 'iframe.wp-embedded-content' ),\n\t\t\ti, source, secret;\n\n\t\tfor ( i = 0; i < iframes.length; i++ ) {\n\t\t\t\/** @var {IframeElement} *\/\n\t\t\tsource = iframes[ i ];\n\n\t\t\tsecret = source.getAttribute( 'data-secret' );\n\t\t\tif ( ! secret ) {\n\t\t\t\t\/* Add secret to iframe *\/\n\t\t\t\tsecret = Math.random().toString( 36 ).substring( 2, 12 );\n\t\t\t\tsource.src += '#?secret=' + secret;\n\t\t\t\tsource.setAttribute( 'data-secret', secret );\n\t\t\t}\n\n\t\t\t\/*\n\t\t\t * Let post embed window know that the parent is ready for receiving the height message, in case the iframe\n\t\t\t * loaded before wp-embed.js was loaded. 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Covered Entities are not required to submit additional registrations or file reports by the previously established April 1, 2026 deadline. Later this year, the DFPI will begin formal rulemaking to develop statewide regulations that ensure clarity, consistency, and transparency. In advance of that process, the DFPI will actively seek input from venture capital firms, industry associations, founders, investors, and other relevant stakeholders in the coming months. The DFPI will issue a notice once the formal rulemaking process officially begins. Upon commencement, the DFPI must finalize the rulemaking within one year. For additional information, please refer to the DFPI\u2019s official website. Our previous coverage of the venture capital company reporting regime can be found here. Seward &amp; Kissel submitted a request to the DFPI for written guidance on certain aspects of the FIPVCC and intends to continue engaging with the DFPI on behalf of its clients in advance of the DFPI\u2019s formal rulemaking process. Please contact the attorney below or your primary Seward &amp; Kissel attorney in the Investment Management Group if you have any questions regarding the status of the venture capital company reporting regime or if you would like to engage with the DFPI, directly or indirectly, in advance of formal rulemaking."}