Tagged: sec

SEC Study: Market Quality for Small Cap Equities

SEC logo

The Securities and Exchange Commission has published a report on markets for small capitalization equities as part of the requirement of the JOBS Act to study decimalization and trading of small cap companies.  Questions of liquidity and market efficacy have been ruminating at the SEC and market participant for years. In 2001 the SEC ordered… Read More

Brief: SEC Investor Advisory Committee Schedules Meeting for October 9th

SEC Investor Advocates

As part of their regularly scheduled quarterly meetings, the Investor Advisory Committee (IAC) is planning to meet at the offices of the SEC on October 9th. The IAC, a mandated group under Dodd-Frank legislation, advises the SEC on various aspects of securities regulations.  One of the hottest topics during the last meeting, and an issue of… Read More

SEC & SBA Will Partner on JOBS Act Events: Capital Raising Options for Small Business

JOBS Act 2012 jumpstart our business

The US Small Business Administration (SBA) and the Securities and Exchange Commission (SEC) have decided to work together to spread the word on the JOBS Act and new options to raise capital for small businesses.  The JOBS Act legalized various forms of investment crowdfunding including:  Title II, Title III and Title IV.  While Title II,… Read More

SEC Seeks to Create More Effective Data Driven Risk Assessment Tools with New Section in DERA

SEC

The Securities and Exchange Commission (SEC) has created a new office within the Division of Economic and Risk Analysis (DERA) that will coordinate efforts to provide data-driven risk assessment tools and models to support a wide range of SEC activities. DERA has collaborated with market experts across the SEC to develop risk assessment tools since… Read More

Investment Crowdfunding: The Most Significant Innovation for Entrepreneurship in a Generation (Deck)

Mary Jo White SEC Chair

Kickercon, a crowdfunding conference took place this past week in Texas.  At one of the sessions Ron Miller,  CEO of StartEngine and hopeful  crowdfuning portal operator, took to the podium to pound the table on Title III retail crowdfunding. In a presentation titled:  Investment Crowdfunding – The Most Significant Innovation for Entrepreneurship in a Generation,… Read More

CFIRA Takes Vocal Stand on “Accredited Investor” Definition

CFIRA Balancing Wealth and Wisdom

The Crowdfund Intermediary Regulatory Advocates (CFIRA) has taken a firm and concise stand on the debate enveloping the definition of an “Accredited Investor”.  CFIRA has been at the forefront in advocating for financial innovation and investment crowdfunding.  The group promotes the interests of issuers AND investors while promoting good business practices.  The letter (posted below)… Read More

StartEngine’s CEO Continues To Urge SEC To Implement Title III

Crowdfunding Card Title III Regulations

Grassroots momentum is rising in the crowdfunding industry, as potential investors, capital-seeking companies and funding option’s platforms urge the U.S. Securities and Exchange Commission (SEC) to implement the proposed rules, as amended during the comment period, legalizing true investment crowdfunding and giving more businesses the ability to create jobs. With the Commission scheduled to convene… Read More

StartEngine’s CEO Urges Crowdfunding Leaders to Push SEC to Release Title III Rules

Mary Jo White 865 days and Counting

On Wednesday (August 20th), more than 40 participants from the crowdfunding industry gathered on a call to discuss key topics about the industry’s future. Those on the call were urged to join the #VoteOnCF movement, a campaign that urges the SEC to vote on the proposed rules of Title III.  In a recent article on… Read More

Perspective: Investors and Markets Could Benefit from Revising the Accredited Investor Definition

Accredited Investor Qualifcations featured

When Congress passed the JOBS Act lifting the ban on general solicitation in offerings under Rule 506 of Regulation D, it turned these so-called “private” offerings into potentially very public ones.  Since Reg D offerings involving general solicitation can only be sold to “accredited” investors, it also amplified the already central role that the accredited… Read More

Jason Best & Sherwood Neiss to SEC: Vote Now on Title III Crowdfunding Rules

Jason Best and Sherwood Neiss

Crowdfund Capital Advisors principles Jason Best and Sherwood Neiss have joined the growing group of crowdfunding industry participants demanding the Securities and Exchange Commission release final rules on Title III crowdfunding immediately.  In a comment letter addressed to SEC Chair Mary Jo White, Best and Neiss urged the Chair to release final rules now. This… Read More

StartEngine CEO Schedules Open Call to Push Title III, Retail Crowdfunding Forward

Ron Miller

Following the example of the 28 members of Congress who forwarded a letter to the SEC urging them to publish the proposed rules on Title  III of the JOBS Act, some in the crowdfunding industry are taking action and looking to the crowd to join them. This Wednesday, August 20, 2014, StartEngine CEO Ron Miller,… Read More

28 Members of Congress Urge SEC To Move Forward on Title III Equity Crowdfunding

Wanted SEC That Provides Crowdfunding Regulations Mary Jo White

As the days turn into months, and the months turn into years, the JOBS Act, signed into law in 2012, remains an under-utilized piece of legislation due to missing final rules from the Securities and Exchange Commission (SEC).  While the debate continues as to what the final rules should entail – with ongoing questions about… Read More

Nine Senators Submit Letter to SEC Opposing State Blue Sky Preemption

Nine Senators Opposed to State Preemption Blue Sky Title IV JOBS Act

In the ongoing debate about various aspects of the JOBS Act that legalizes equity crowdfunding, nine US Senators have submitted a comment letter to the SEC opposing the move to preempt state “Blue Sky” review.  The pre-emption of state review under Title IV of the JOBS Act, also known as Regulation A+, has been recognized… Read More

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 in the Halls of Congress in Washington, D.C. on July… Read More

SEC CorpFin Director Talks JOBS Act on the Hill During Financial Services Committee Hearing

Keith Higgins Featured

Last Thursday (July 24) Keith Higgins, Director of the Division of Corporation Finance, gave his testimony on the Division’s recent “activities and responsibilities” to the House of Representatives Committee on Financial Services’ Capital Markets Subcommittee. Among the topics addressed by Mr. Higgins during his testimony were the Division’s activities and responsibilities in relation to JOBS… Read More

The Definitive Guide: Proposed Intrastate Crowdfunding Exemptions

States with proposed investment crowdfunding exemptions July 2014

As promised, and I know you have all been waiting, is our comparative chart of crowdfunding regulations proposed by certain states. These regulations are not in effect yet and thus subject to changes and further amendments, but at this time this is how the states are shaking out. It is great to see some of… Read More

If It Ain’t Broke … SEC Investor Advisory Committee Tackles Non-Problem

Blasting Investment Featured

On July 10, thanks to the Dodd-Frank Act which mandated its reinstitution, the revived SEC Investor Advisory Committee met in a public forum to discuss certain securities law issues, including a subcommittee’s initial proposals on the definition of “accredited investor” (as defined in Section 501(a) of Regulation D under the Securities Act of 1933, as… Read More

Mark Flannery is New DERA Director, SEC Chief Economist

Mark Flannery

Flannery Replaces Outgoing Director Craig Lewis. The Securities and Exchange Commission has announced it has named Mark J. Flannery as its chief economist and director of its Division of Economic and Risk Analysis (DERA), which provides analysis to help inform the Commission’s policymaking, rulemaking, enforcement, and examinations. DERA was created in 2009 to act as… 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 has been prosecuted. Meanwhile, rather than look back at the… Read More

SEC Commissioner Daniel Gallagher Talks JOBS Act; Advocates Needs of Small Business

Daniel Gallagher Champion of Small Business

At a recent meeting of the Securities Reform Project, organized by David Burton of the Heritage Foundation, attendees had the unique opportunity to hear from SEC Commissioner Daniel Gallagher. Gallagher was appointed as Commissioner in 2011 but he is a longtime veteran of the SEC having joined the staff in 2006 as Counsel to then… Read More