VCC Reporting Program - DFPI

VCC Reporting Program - DFPI
VCC Reporting Program
The
Fair Investment Practices by Venture Capital Companies Law
was signed into law by Governor Newsom under
SB54 (Stats.2023,ch.594)
and amended under
SB164 (Stats.2024,ch.41)
to enact transparency for greater equity and economic empowerment in venture capital investment to benefit the public with expanded business opportunity and innovation.
Venture Capital Companies
The California Department of Financial Protection and Innovation (DFPI) has announced that it plans to initiate rulemaking in response to comments by various stakeholders relating to the Fair Investment Practices by Venture Capital Companies Law (FIPVCC).
Implementation and enforcement of the FIPVCC will be suspended pending completion of the rulemaking and until final regulations are in place. DFPI will
not
require covered entities to submit further registrations or file reports by the April 1, 2026, deadline.
The DFPI will begin the rulemaking process later this year to craft statewide regulations for the law with the goal of promoting clarity, collaboration, and transparency. To maximize stakeholder engagement, the DFPI will seek input from venture capital companies, industry associations, founders, investors, and other relevant parties over the next few months
before beginning formal rulemaking
. The DFPI will notify registrants and subscribers when that occurs. Once initiated, formal rulemaking must be completed within one year.
This approach will ensure that the regulations adopted are clear, practical, and effective in achieving the objectives of the law.
Please continue to monitor communication from the DFPI regarding specific timings and opportunities to provide comments.
Note:
For more information, subscribe to email updates by clicking the SUBSCRIBE button on the right of this page and then choose “Venture Capital Companies” on the next page.
Questions on the VCC Reporting Program may be directed to:
[email protected]
Key Links
Law:
Corporations Code section 27500 et seq.
Who Must Register and Report
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