Tagged: sec

SEC Commissioner Stein Talks Blue Sky, JOBS Act in Speech to NASAA

Commissioner Kara M. Stein BW

In a double header day, SEC Commissioner Kara M. Stein also addressed the North American Securities Administrators Association (NASAA) at their 2014 Public Policy conference in Washington, DC. Introduced by NASAA President Andrea Seidt from Ohio, Commissioner Stein dove right in to addressing the pressing concerns of the NASAA. Blue Sky Review finds it origins… Read More

SEC Commissioner Aguilar Talks Crowdfunding, JOBS Act in Speech to NASAA

Luis A. Aguilar

In a speech given today to the North American Securities Administrators Association (NASAA) at their annual conference held in Washington, DC, SEC Commissioner Luis A. Aguilar addressed the hot topic of the JOBS Act and some of the exemptions regarding crowdfunding. The NASAA has been very vocal about their apprehension towards crowdfunding.  Regarding proposed rules… Read More

SEC Investor Advisory Committee Schedules Meeting for April 10

SEC logo

The Securities and Exchange Commission Investor Advisory Committee has scheduled a meeting for April 10, 2014 to take place from 10AM to 4:30PM EST. The agenda for the meeting includes: remarks from Commissioners; remarks from the Investor Advocate; election of Investor Advisory Committee Chair; a recommendation from the Investor as Purchaser Subcommittee regarding crowdfunding regulations; and nonpublic subcommittee… Read More

Will a $1 Million Crowdfunding Raise Cost $200,000?

A Crowd of $100 Benjamin Franklin

In a posting on the Wisconsin Angel Network, the statement was made that a $1 million crowdfunding raise could cost $200,000 to complete.  Not very exciting for small companies looking to raise capital, nor the investors who are interested in funding startups.  Of course we all know that any cost of an equity crowdfunding raise… Read More

In Equity Crowdfunding, The Redcoats are Winning

Redcoats WyrdLight.com

Fresh from my trip across the pond, I can tell you I have seen the light. Crowdfunding can and is working and we (the United States) are behind the eight ball on this one. When describing the US regulatory regime to crowdfunding professionals in the UK I would first encounter shock (that the UK system… Read More

Keith Higgins Talks JOBS Act in Speech to Angel Capital Association

Keith Higgins Director SEC Division of Coporation Finance

The Director, Division of Corporation Finance at the Securities and Exchange Commission, Keith Higgins, gave the keynote address at the Angel Capital Association Summit in Washington, DC today. Higgins, who has been in the thick of rulemaking with the JOBS Act and correspondingly all types of crowdfunding, comments on the legislation and specifically addresses, general solicitation… Read More

The Funding Continuum Enters Stage Left

Canada Equity Crowdfunding

This article originally appeared in ITBusiness and is being shared with Crowdfund Insider’s readers by Bret Conkin of FundRazr. The rules posted yesterday by Canadian securities regulators are still being digested, but upon first read, they appear very encouraging for Canadian startups, small business and even public issuers. The regulators have struck a balance by… 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 shut soon. The commenting period began this past December and… Read More

Cybersecurity Agenda Released for SEC Roundtable


Previously announced in February, The Securities and Exchange Commission (SEC) today announced the agenda and panelists for this Wednesday’s (March 26, 2014) roundtable on the issues and challenges cybersecurity presents for market participants and public companies.  The roundtable will be held at the SEC’s headquarters in Washington D.C., and is open to the public on… Read More

SEC Chair Mary Jo White Addresses Retail Investor Protection


In a speech delivered today to the Consumer Federation of America, Securities and Exchange Commission Chair Mary Jo White addressed the needs of protecting the consumer in the securities markets. White mentions the recent appointment of Rick Fleming as the agency’s head in the new office of the Investor Advocate.  Fleming was recently the Deputy… Read More

SEC Director of Corporate Finance Talks JOBS Act in Speech

Keith Higgins Director SEC Division of Coporation Finance

In the keynote address delivered today in London to the Annual Institute on Securities Regulation in Europe, Keith Higgins, Director, Division of Corporate Finance at the SEC, talked JOBS Act and crowdfunding. The speech titled The New World of Capital Formation jumped right into the discussion of various portions of the JOBS Act that impact… 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, on an Internet-based platform, through intermediaries (portals) which are either… Read More

Can the JOBS Act Save The American Dream?

Photo courtesy John Morgan on Flickr: http://www.flickr.com/photos/aidanmorgan/

A recently Marist-McClatchy poll found that eight out of 10 Americans no longer believe they can achieve the American Dream. Almost the same percentage of those polled said that things will not get better for future generations. The level of pessimism regarding the present economy is truly at an all-time high. There is good news… Read More

Andreessen Horowitz, Cowen & Company, State Position on Regulation A

Andreessen Horowitz

In a comment letter posted to the Securities and Exchange Commission (SEC) web site addressing proposed rule amendments for Regulation A under Title IV of the JOBS Act, Andreessen Horowitz and Cowen and Company clarified their position and support for the proposed changes. Andreessen Horowitz, a vocal supporter of crowdfunding and the JOBS Act, is… Read More

The Definition of “Accredited Investor” Must Be Updated

A Crowd of $100 Benjamin Franklin

There has been a lot of uproar about new rules requiring additional steps to verify accredited investor status (i.e. checking tax returns) as a condition to using the new 506(c) rules permitting general solicitation. The real problem here is that the definition of accredited investor is out of touch with reality and is based on very sensitive personal… Read More

State Crowdfunding Efforts Create Interstate Competition For Startups, Jobs

United States Capital

If we were tallying states up today, Kansas, Georgia, Michigan and Wisconsin have made equity crowdfunding legal and are in some stage of implementation. Alabama, Washington, Maine and North Carolina are all considering exemptions. Of course, that may change tomorrow. Amidst all the hoopla about a crowdfunding exemption at the federal level, states have been busy… Read More

SEC Investor Committee Meeting Webcast

Barbara Investors Committee SEC

On January 31, 2014, the Securities and Exchange Commission held a meeting of the Investor Advisory Committee.  Several of the commissioners participated in the gathering. A portion of the event, towards the end of the agenda, focused on crowdfunding. The recorded webcast with the portion on crowdfunding is below. The video was broken into two… Read More

SEC to Webcast Cyber Security Roundtable in March


The Securities and Exchange Commission (SEC) has announced that it will host a public roundtable in March to discuss cyber security and the issues and challenges it raises for market participants and public companies, and how they are addressing those concerns. The roundtable will be held at the SEC’s Washington, D.C. headquarters on March 26… Read More

Elizabeth Murphy to Become Associate Director, Division of Corporate Finance of SEC


The Securities and Exchange Commission (SEC) has announced that Elizabeth Murphy has been named an associate director in its Division of Corporation Finance. For the past five years, Ms. Murphy has served as the Secretary of the Commission, heading the office that prepares, reviews, and maintains records of Commission action and advises the Commission and… Read More

Washington House Approves Crowdfunding Bill With 89-9 Vote


Washington State has been on the march toward an intrastate crowdfunding exemption, and yesterday the effort took one more step toward becoming reality. House Bill 2023 was approved with an 89-9 vote. The nine nay votes all came via House Republicans. The bill itself was introduced by Rep. Cyrus Habib, a Democrat and a lawyer… Read More