Tagged: sec

CommunityLeader to SEC: Thanks for Publishing Reg A+ Rules!

Gallery of SEC Commissioners

On Wednesday, the SEC Board of Commissioners approved the publishing of the rules associated with the Jobs Act 2012 Title IV. Now, the executives at CommunityLeader, Inc., a technology and service leader in the emerging crowdfunding industry, is ready to share their thoughts about the rules. Commonly referred to as Reg A+, the new rules reform… Read More

Title IV of the JOBS Act Final Rules (Document)

CorpFin SEC Title IV

Below is the “draft” of final rules of Title IV of the JOBS Act. Also known as Regulation A+ the below document will become final following a 60 day period after publication in the Federal Register. The 453 page document will be reviewed by the Office of Management and Budget under “Major Rule Analysis”according to… Read More

SEC to Require Broker/Dealers Active in Off-Exchange Market to Become Members of National Securities Association

SEC Commissioners Mary Jo White

The Securities and Exchange Commission today proposed rule amendments to require that broker-dealers trading in off-exchange venues become members of a national securities association.  The amendments are designed to enhance regulatory oversight of active proprietary trading firms, such as high frequency traders (HFT). “This proposal embodies a simple but powerful principle of the federal securities… Read More

Final Rules for Title IV of the JOBS Act to Include State Pre-emption But for Tier 2 Only

Mary Jo White Title IV Hearing

The Securities and Exchange Commission met today to finalize rules for Title IV of the JOBS Act, commonly referred to as Regulation A+.  As expected the Commission quickly approved rules that included state Blue Sky pre-emption but for only Tier 2 of Title IV.  The vote for final rules was unanimous but included some reservations… Read More

Real Estate Firms Eye Forthcoming Rules of Regulation A+

Ben Franklin Close Up 100 hundred money dollars

Later this morning the Securities and Exchange Commission will be releasing final rules for Title IV of the JOBS Act otherwise known as Regulation A+. While the details are not yet know, the expectations are for proposed rules to allow raised of up to $50 million without having to go through the state review process…. Read More

LOOKING FOR THE EXIT – Commissioner Aguilar Presses On The Need For Greater Secondary Market Liquidity 

Where is the Exit 2

Earlier this month, Commissioner Luis A. Aguilar addressed the Advisory Committee on Small and Emerging Companies in Washing D.C. In his speech (embedded below), Commissioner Aguilar echoed the sentiments of the market in arguing the need for increased liquidity in the private placement market. His speech goes well beyond that point however, as he highlights… Read More

SEC Schedules Open Meeting on Rules for Title IV of the JOBS Act

SEC Commissioners Mary Jo White

The Securities and Exchange Commission has announced an open meeting to be held on Wednesday, March 25th, to consider whether to adopt rules and forms related to the offer and sale of securities pursuant to Section 3(b) of the Securities Act of 1933 to implement Section 401 of the Jumpstart Our Business Startups Act.  This… Read More

SEC Investor Advisory Committee Scheduled to Meet in April. Will Review Recommendations of SME Committee

Barbara Roper Investor Advisory Committee

The SEC Investor Advisory Committee (IAC) has scheduled their next gathering at F Street in DC to be held on April 9th.  The group is ostensibly an advocate on behalf of all investors but has a tendency to be more on the side of protection as opposed to facilitating access to investment opportunity and choice. According to… Read More

Q-&-A: PENSCO CEO Kelly Rodriques Discusses The Definition of ‘Accredited Investor,’ The JOBS Act And More

Kelly Rodriques and Eileen Loustau

Shortly into 2015, Kelly Rodriques, president and CEO of PENSCO Trust Company, a leading alternative asset custodian, shared his top five predictions for the year underway. Crowdfund Insider caught up with him for a more detailed Q-and-A about his predictions—from the $1 million investment cap on Title III retail crowdfunding, to how a person should… Read More

Securities & Exchange Commission: Things to Look Out for in Spotting Internet Fraud

SEC Investor Advocates

The Securities and Exchange Commission has a pretty important, and at times overwhelming, task.  Regulating and enforcing the largest securities markets on the planet is a profound responsibility. The advent of the internet has added a new, and quite challenging, variable to the process as well. Communication and social engagement occurs around the clock without… Read More

Reg A Plus & Developing Venture Exchanges (Webinar)

TItle IV JOBS Act slide

Crowdfund Insider Senior Contributor, Sam Guzik, joined David Weild, former Vice Chair of Nasdaq, in a presentation last week on current issues regarding capital formation for SME’s. The discussion reviewed Title IV of the JOBS  Act (Regulation A+), the need for venture exchanges for secondary transactions of new types of securities, and what certain regulatory changes… Read More

Part II: Due Diligence to Identify “Bad Actors” In Private Offerings under Rule 506

Wanted Poster White Collar Crime FBI Bad Actor

This the second part, of a two part series, reviewing Bad Actors in private placements.  The first article may be viewed here. The Securities and Exchange Commission (SEC) issued new Rule 506(d) in 2013, a rule that bars felons and other specified “bad actors” from participating in private offerings of securities under Rule 506 of… Read More

Former SEC lawyer & Forbes Columnist Edward Siedle Launches Crowdfunding Platform For Retirement Plan

Edward Siedle

Earlier this month, former SEC lawyer and now Forbes columnist, Edward Siedle, launched a crowdfunding platform, Investigate My Retirement Plan, which is dedicated to helping participants to investigate retirement pensions. According to Pensions & Investments, Siedle noted that through the new platform participants in defined benefit and contribution plans may propose forensic investigations and initiate… Read More

JOBS Act State of the Union: What’s Become of Regulation A+ and Crowdfunding?

State of the Union Framed

To borrow a line from SEC Commissioner Daniel M. Gallagher, quoting from the fight song of his alma mata, Georgetown University:  Oh How Long It’s Been! As we approach the three year anniversary of the signing into law of the JOBS Act of 2012 it is a sad irony that many are asking: What ever… Read More

Venture Exchanges Discussed in Senate Banking Sub-Committee

Venture Exchanges Testimony in Senate

In a broad ranging discussion on Capitol Hill today, the Senate Banking, Housing and Urban Affairs subcommittee addressed the issue of Venture Exchanges. Recently there has been a growing amount of discourse on the Hill, and within the offices of the SEC, regarding the propriety and efficacy of creating a Venture Exchange for smaller companies. In… Read More

Secondary Trading Developments (Deck)

Annmarie Tierney

During the gathering of the SEC Advisory Committee on Small and Emerging Companies (ACSEC) considerable time was spent discussing secondary markets and venture exchanges.  This is an area that has captured the attention of SEC Chair Mary Jo White.  Having the SEC Chair as a proponent is probably a good thing as it heightens the… Read More

SEC Commissioner Kara Stein Advocates Supporting Innovation via Capital Formation

SEC Commissioner Kara Stein at Stanford Law School 2015

In a speech presented at the Stanford Law School, SEC Commissioner Kara Stein delivered a lecture clearly designed to cater to the audience. Entitled “Supporting Innovation Through the Commission’s Mission to Facilitate Capital Formation” the presentation noted that the SEC’s mission is not defined as supporting innovation but, according to Stein, the Commission does support innovation by… Read More

Smackdown: Steve Case on Mark Cuban “His View is Skewed by the Circles He Runs in” as Cuban Criticizes Crowdfunding

Steve Case

Steve Case, a staunch proponent of investment crowdfunding and advocate of access to capital for SMEs, called out billionaire pundit Mark Cuban on CNBC this morning. Ostensibly the discussion was on the Tech Bubble “Yes or No” polemic but discourse ended up being a bit of a backdrop for a discussion regarding the efficacy of crowdfunding for SMEs…. Read More

David Weild: The Need for a Venture Exchange (Deck)

David Weild and Vince Molinari

David Weild, former Vice Chair of Nasdaq and current CEO of IssuWorks, delivered a presentation to the SEC Advisory Committee on Small and Emerging Companies that addressed the issue of venture exchanges.  The need for a venture exchange has recently percolated up in discussion as new types of securities are being created that may require a… Read More