Tagged: sec

Millennium Trust Company Receives $5.6 Billion In Private Fund Assets under Custody

Millennium2

Millennium Trust Company, a provider of alternative asset custody solutions to institutions, advisors, and individuals, announced today that assets under custody for private funds have surpassed $5.6 billion as of June 1, 2015, an increase of $600 million within the last six months. The firm’s… Read More

Gregg Mulholland, Previously Charged by SEC for Pump & Dump Scheme Involving Rudy Ruettiger, is Charged with Illegally Selling Penny Stock Shares

fraud

The SEC has charged Gregg R. Mulholland of secretly accumulating “at least” 84% of shares in Vision Plasma Systems.  Once Mulholland effectively controlled the company, he liquidated shares for proceeds of approximately $21 million.  The SEC states that no registration statement was filed on the… Read More

SEC Staff Provides Early Guidance on Use of Regulation A+

SEC Regulation A+

  On June 23, 2015, the Staff of the Securities and Exchange Commission provided some public guidance on certain issues arising under the new Regulation A+ Final Rules. In a new section of the SEC’s Compliance and Disclosure and Interpretations (C&DI’s),  a Q and A… Read More

Brief: Seed Equity Ventures Reaches Milestone By Registering Investors and Entrepreneurs from 100 Countries on Equity Crowdfunding Platform

todd crosland

Seed Equity Ventures announced today that it now has registered investors and entrepreneurs from 100 countries. An executive partner from an investment bank in the North African country of Tunisia registered as an investor today bringing the platform 100 countries. Seed Equity is a registered broker dealer… Read More

Montana & Massachusetts Update “Fools Errand” SEC Lawsuit

Damage Dollar Money

The states of Massachusetts and Montana have filed a joint preliminary statement of issues. Once again the two state securities regulators, William Galvin in Massachusetts and Monica Lindeen in Montana, are reiterating their criticism of the SEC and recently enacted rules for Regulation A+. The… Read More

Regulation A+ Day 1: A Look Past the Mainstream Media Headlines

Extra Extra Title III

And Regulation A+’s Forgotten Crowdfunding Cousin Quietly Comes to Life in Congress Some History Lessons Though some may quibble over the details, June 19, 2015, was an historic day in U.S. regulatory history, at least as far as raising capital for small businesses is concerned… Read More

TriPoint Global Equities & BANQ Now Accepting Reg A+ Issuers

TriPoint Global Equities, LLC.

TriPoint Global Equities, LLC. (“TriPoint”), a FINRA member and leading boutique investment bank that provides companies with capital raising and corporate & strategic advisory services, announced that with the effectiveness of Reg A+ as of today (June 19th) its electronic platform, BANQ, is now accepting issuers looking to… Read More

SEC Settles Charges with Silicon Valley based Sand Hill Exchange. Company Sold Contracts Referencing Pre-IPO Startups using Dollars & Bitcoin

Sand Hill Oh Snap

The SEC has announced the conclusion of an investigation regarding Silicon Valley based Sand Hill Exchange, a firm that was apparently selling security based swaps to retail investors without a necessary registration statement and outside a national exchange. Sand Hill Exchange settled without admitting or… Read More

SEC Advisory Committee Recommends Modernizing Rule 147 To Support Intrastate Crowdfunding

ACSEC Kara Stein and Stephen Graham

The Securities and Exchange Commission’s (SEC) Advisory Committee on Small and Emerging Companies met in early June to discuss various topics concerning, of course, small businesses. One of the primary topics the Committee addressed was the growing enactment and use of state-based crowdfunding (i.e. “Intrastate… Read More

Preparing to Hire a Financial Advisor? Check them Out First Here.

SEC Commissioners in 1934 including Joseph P Kennedy

The Securities and Exchange Commission is celebrating 81 years of guiding financial markets this month. While there have been more than a few ups and downs since the ’34 Act that created the SEC (on June 6th), their mission remains true in guarding investors and… Read More

Warren Wrong: Senator’s Attack on Mary Jo White is Misdirected

Senator Elizabeth Warren

Senator Elizabeth Warren, an outspoken critic of all things associated with Wall Street, launched a blistering frontal assault against the current Chair of the SEC – Mary Jo White. It should be noted that Mary Jo White was selected by President Barack Obama to reinvigorate… Read More

Capital Unbound; Piwowar Suggests Regulators Need Restraining & Crowdfunding Should Look to States

Michael Piwowar quote

A CATO Institute event on the status of capital markets in the US provided a bright spot to an otherwise bleak and rainy day in New York City. Amidst the libertarian rhetoric and literature, two speakers stood out with certain observations and proposed remedies to… Read More

SEC Commissioner Piwowar Slams Fed’s Push to Expand Regulatory Oversight of “Shadow Banks”

Michael Piwowar

In an interesting speech delivered at the Exchequer Club in Washington, DC, last month, SEC Commissioner Piwowar criticized federal regulators push to expand oversight into areas overlapping with the responsibility of the SEC.  Piwowar slammed the infringement; “Make no mistake — it is the Commission, not the… Read More

Indiegogo’s Kate Drane Reveals Campaign Success Secrets & Her Thoughts on Equity Crowdfunding

Kate Drane

Earlier this week, Indiegogo’s hardware category lead Kate Drane sat down with France’s startup blog Rude Baguette during Connected Conference to discuss crowdfunding success and the rise of equity crowdfunding. During her interview, Drane shared some advice on how project creators should form a community before campaign launch:… Read More

SEC Schedules Next Meeting of the Advisory Committee on Small & Emerging Companies

Walking to the SEC Securities and Exchange Commission

The Advisory Committee on Small and Emerging Companies (ACSEC) has scheduled its next gathering to be held at the SEC offices on June 3rd.  The announced agenda lists topics including; public company disclosure effectiveness, intrastate crowdfunding, venture exchanges, and treatment of “finders.” SEC Chair Mary Jo… Read More

Corporate CrowdFund Establishes Strategic Alliances for the Crowdfunding Community

Corporate CrowdFund

Corporate CrowdFund (CCF) has entered into a set of strategic alliances to bring quality transfer agent and marketing services to the CCF community. Two of the most modern and respected transfer agents in the industry, ClearTrust and TransferOnline, have tailored their services to fit the needs of the Corporate… Read More

Crowdfunding Industry Fights Back: Issues Statement Opposing State Lawsuit to Block Regulation A+

Knock Out Punch

CFIRA and CfPA Issue Joint Statement Regarding Lawsuit Against the SEC to Block Implementation of Regulation A+, Title IV of the JOBS Act In a joint statement released today by the leadership of crowdfunding industry associations Crowdfunding Intermediary Regulatory Advocates (CFIRA) and the Crowdfunding Professional… Read More

The State of Massachusetts vs. Regulation A+: State Regulators Take the SEC to Court

William Galvin Fight Regulation A+

On the eve of the 2015 Memorial Day weekend, Massachusetts Secretary of State William Galvin set the stage for what I expect will be the final chapter in the continuing saga of what has popularly been referred to as Regulation A+,  a newly created avenue… Read More

OnDeck CEO Noah Breslow Shares His Innovative Vision for Marketplace Lending: Transforming How Money Flows

OnDeck IPO NYSE

“We are extremely excited by the possibilities of the next decade in the alternative finance market… OnDeck’s vision is to transform how money flows to small businesses by leveraging our platform to provide capital on demand for small business owners. The data flowing through a small… Read More