What will happen over the next few days? The most likely scenario is for short-term RC program authorization to be included (just like last year) in a continuing resolution to keep the government funded. Industry groups are pushing for this to happen to give Congress and the industry more time to negotiate long-term reform and reauthorization.
It is important to note that Senators Grassley and Leahy are insisting on “integrity measures” to provide the Department of Homeland Security with the tools necessary to expand background checks, vetting of projects and investors as well as to better monitor compliance with securities laws.
Finally, the SEC has proceeded with enforcement actions against lawyers across the country charged with offering EB-5 investments while not registered to act as brokers. This could have been avoided if a broker dealer had been involved in the transactions.