Tagged: samuel s. guzik

SEC Annual Forum on Small Business Capital Formation: Ground Hog Day for Small Biz?

Ground Hog Small Business Forum SEC

Many of us are wondering when, if and how the SEC will finally roll out final regulations to implement major provisions of the JOBS Act of 2012, including Title III (investment crowdfunding) and Title IV (Regulation A+). So too were a group of Congressmen, gathered… Read More

The Misplaced Logic of Dodd-Frank: Protecting the Ordinary Investor by Redefining the Accredited Investor

Dodd Frank

Many of you are still reeling from the impact of the worldwide collapse of the financial markets in 2008. And most of us have rightfully observed that following one of the greatest debacles in financial history, no one has gone to jail – no one… Read More

Open Letter to the SEC: Please Don’t Hang Up on Small Business (And Please Don’t Put Small Business on Hold)

Phone Booth Hangup

Some of you who read my article on July 1, 2014, entitled “Intrastate Crowdfunding at Risk -Has Intrastate Crowdfunding in Washington State Been Washed Out by NASAA and the SEC?” may have concluded that I was making a mountain out of a mole hill –… Read More

Intrastate Crowdfunding at Risk

NASAA Letter Quote North American Securities Administrators Association

Has Intrastate Crowdfunding in Washington State Been Washed Out by NASAA and the SEC? On May 5, 2014, I published an article in Crowdfund Insider highlighting recent informal “rulemaking” at the SEC Division of Corporation Finance, which in my opinion quietly dampened the efforts of… Read More

JOBS Act 2.0: Congressman McHenry’s Cure for the “Six Deadly Sins” of Crowdfunding Regulation

Patrick McHenry Fixing the JOBS Act

For those of you who were too busy to notice, U.S. Congressman Patrick McHenry introduced three draft bills into the House Financial Services Committee last week.  One of them, if it were to become law, would open up the U.S. equity crowdfunding world in ways… Read More

Regulation A+: A Sleeping Giant For Small Business Capital Formation?

The Potential for Regulation A and Blue Sky Pre-emption

Since the 1930’s Regulation A has been unremarkable as a little known and little used “exemption” from the full SEC registration process – intended to allow smaller companies to access public markets through a streamlined SEC registration process – with “reviewed” financial statements and no… Read More

Comments on Title IV, Regulation “A”, Deadline Today

Necessity of Blue Sky Exemption

Comments on proposed rules regarding Title IV of the JOBS Act are due today pursuant to the deadline set by the SEC.  Traditionally public comments continue to be posted on proposed rule amendments after the deadline, it is understood the door for comments will be… Read More

SEC Crowdfunding Rulemaking Under the Jobs Act: an Opportunity Lost?

President Obama Speaks after signing the Jobs Act April 2012

Title III of the JOBS Act created an exemption from registration for the offer and sale of so-called “crowdfunded” securities under the Securities Act of 1933, allowing the offer and sale of securities to an unlimited number of unaccredited investors without registration with the SEC,… Read More

Ohio Securities Commission v. SoMoLend: Is the (Blue) Sky About to Fall?

Ohio Means JOBS? Here Lies SoMoLend

On February 19, 2014, in a missive to the SEC, signed by 18 state securities administrators,  under the letterhead of the North American Securities Administrators Association (“NASAA”), the message was clear: “[we] write to voice our objection to the Commission’s attempt to preempt state authority… Read More

The JOBS Act & The Law of Unintended Consequences

US Capitol Time to Consider JOBS Act 2.0

Crowdfunding May Require JOBS Act 2.0. It started out as a noble idea. If only crowdfunding could go to the next level – from a paradigm where a multitude of individuals could join together – courtesy of the Internet – and fund a worthwhile social… Read More

Dawn of a New Era: SEC Chair White Speaks to Small Business

New Era SEC Mary Jo White Barack Obama

In a speech delivered today by SEC Chair Mary Jo White at the 41st Annual Securities Regulation Institute in Coronado, California, entitled: “The SEC in 2014,” it appears that Chair White has “gotten the memo” from her predecessors, and is well on her way to… Read More

Crowdfunding Counselor Sam Guzik Interviewed by Kim Greenhouse (Video)

Sam Guzik it's Rainmaking Time

Securities attorney, JOBS Act authority and Crowdfund Insider columnist Sam Guzik was recently interviewed on It’s Rainmaking Time by Kim Greenhouse.   Her guests were bestselling authors, leaders of industry, and pioneers attracting listeners from around the world. Greenhouse, having met Guzik a the Crowdfunding Bootcamp… Read More

Regulation A+ Offerings: A New Era at the SEC

The Securities and Exchange Commission SEC

December 18, 2013 may well mark an historic turning point in the ability of small business to effectively access capital in the private and public markets under the federal securities regulatory framework.

SBA Office of Advocacy Requests Redo by SEC on Crowdfunding Regulations

SBA Office of Advocacy The Independent Voice for Small Business

Office of Advocacy Invokes Act That Requires SEC to Consider Impact on Small Business. If first you don’t succeed… In a brief but much needed comment letter, dated January 16, 2014, the Office of Advocacy (Advocacy) of the Small Business Administration (SBA) asked the Securities… Read More

SBA Crowdfunding Roundtable

Samuel S. Guzik

Small Business Crowdfunding Roundtable Agenda Welcome and Introduction of Small Business Representatives and Staff from the Securities Exchange Commission (10:00 a.m. – 10:10 a.m.) Dillon Taylor, Assistant Chief Counsel, SBA Office of Advocacy Overview of the SEC’s proposed rule to implement Title III of the… Read More

SEC’s Proposed Crowdfunding Regulations: Six Deadly Sins

Sins of Excessive Regulations

HOW TO MAKE THE SEC REPENT BEFORE IT IS TOO LATE. In a previous article in Crowdfund Insider on November 4, 2013, I identified a number of serious problems with the SEC’s proposed crowdfunding regulations. I also promised readers to share my opinions on what… Read More

SBA Roundtable on Crowdfunding Scheduled for Next Week

Samuel S. Guzik

The Small Business Administration has scheduled a Small Business Roundtable on Crowdfunding. The event will be taking place on Wednesday, January 15, 2014 at the SBA offices in Washington, DC.  As previously reported the two hour meeting will feature prominent Securities Attorney and Crowdfund Insider columnist… Read More

SBA Crowdfunding Roundtable Announces Agenda, Features Samuel S. Guzik

Samuel S. Guzik

California based Securities Attorney Samuel S. Guzik has been scheduled to lead the Small Business Administration (SBA) Crowdfunding Roundtable scheduled for January 15, 2014.  The event is open to the public and will be held at the SBA offices in Washington, DC.  Guzik, a noted… Read More

Is SEC Commissioner Gallagher a Friend of the Crowd?

The Crowd

On the Proposed SEC Regulations & Crowdfunding – A Postscript. Behind the unanimous vote that accompanied the SEC’s issuance of proposed crowdfunding regulations on October 23, 2013, I sensed that there was more afoot behind the congenial surface.  It seemed unlikely to this Commission observer… Read More

On The Proposed SEC Regulations & Crowdfunding: Let’s Get It Right, Chairman White

Helicopter-Crash-and-Burn-Destroyed

(Editors Note: The content below was corrected to reflect text included in the original article that was not clearly attributed to Dara Albright.) There was an air of euphoria in the crowdfunding community on October 23 when the U.S. Securities and Exchange Commission finally issued… Read More