Tagged: sec

CrowdCheck CEO Sara Hanks Appointed Co-Chair of SEC Advisory Committee on Small and Emerging Companies

Sara Hanks at SEC IAC

The Securities and Exchange Commission has announced the updated roster of the Advisory Committee on Small and Emerging Companies (ACSEC). Within the announcement was an important change as Sara Hanks has been elevated to Co-Chair of the advisory group.  Hanks, a former SEC attorney and… Read More

Fig “Psychonauts 2″ Equity Crowdfunding Campaign Delayed by SEC Requested Clarifications

Psychonauts 4

Last month, Double Fine closed the crowdfunding campaign on Fig for its highly anticipated video game, Psychonauts 2.  According to the campaign page, the initiative raised over $3.8 million from 24,000 backers. A portion of the funding is part of an equity crowdfunding offer under Regulation A+,… Read More

House of Representatives to SEC: Time to Lift Our Entrepreneurs Off the Floor!

House Debate on HR 2187 and HR 4168

For those of you who have followed my articles on Crowdfund Insider over the past two years, you know that I have not been shy about voicing my concerns over the foot dragging that too often has often characterized the attitude of the Securities and… Read More

Crowdfunding Portals Prepare for Title III Retail Crowdfunding

Gates Open for Title III

Last week both the SEC and FINRA finalized the rules for funding portals to offer securities under Title III of the JOBS Act of 2012.  The journey to get to this place has been long and at times challenging as regulators and industry participants debated… Read More

SEC Publishes Agenda for Equity Markets Structure Advisory Committee

SEC Securities and Exchange Commission

The SEC has published the agenda for next week’s meeting of the Equity Market Structure Advisory Committee (EMSAC). The bulk of the meeting will tackle the “Flash Crash” that occurred on August 24th, 2015.  This was a bone-jarring event that saw the Dow nose-dived 1000… Read More

SEC IAC Presentation on Crowdfunding Highlights Investor Protection Concerns (Video)

IAC SEC Crowdfunding presentatiion

The SEC Investor Advisory Committee met last week in Washington, DC. The periodic meeting was opened by Chair White who mentioned Title III retail crowdfunding specifically; “Regulation Crowdfunding becomes effective in May and funding portals can begin to register with the Commission later this month. … Read More

SEC Files Notice of Amendment & Accelerated Approval for Reg CF Funding Portal Rules (Document)

SEC Securities and Exchange Commission Green

The Securities and Exchange Commission submitted a filing last Friday regarding FINRA’s regulatory role pertaining to investment crowdfunding portals operating under Title III of the JOBS Act.  According to the SEC, FINRA just responded (January 21st) to several comment letters and the Commission is now… Read More

Does the SEC Want to Create a Regulatory Approach for Cross Border Equity Crowdfunding Offers?

Keith Higgins

Keith Higgins, Director the Division of Corporate Finance of the SEC, travelled to the UK last week to keynote a speech at the Fifteenth Annual Institute of Securities Regulation in Europe.  The speech, entitled; “International Developments -Past, Present & Future, launched into the premise of… Read More

SEC Investor Advisory Committee to Host Presentation on Crowdfunding Today

Chris Tyrrell Sara Hanks

The Investor Advisory Committee is scheduled to convene today at the SEC headquarters in Washington, DC.  The agenda in the afternoon (on the schedule for 2PM) includes an update on crowdfunding rules. The presentation on investment crowdfunding includes the participation of two well known industry… Read More

SEC Nominees Could Be First Up at Senate Banking Committee When it Reconvenes

Richard Shelby

While the Obama Administration appointed two new SEC commissioners this past fall, not too much has happened to move forward on the nominations.  Senate Banking Committee Chairman Richard Shelby has come under some recent criticism for moving slowly in the approval process as the SEC… Read More

CFIRA Responds to SEC On Proposed Regulatory Changes.

Rules Regulations

  As you may be aware, the Securities and Exchange Commission (SEC) is currently considering sweeping changes to some of the most long-standing rules and regulations governing private transactions. These changes include fundamental revisions of both Rule 501, the definition of “accredited investor” and arguably… Read More

CFIRA Reminds SEC the Time is Now to Update Definition of an Accredited Investor

Entry Enter Go

There is a mandate under Dodd-Frank to review the definition of an “Accredited Investor” on a rolling basis.  As it stands today, Accredited Investors are individuals with incomes over $200,000 per year or $1 million in assets beyond a person’s primary residence. If you are… Read More

Potential Pitfalls of Regulation CF – Part II: Practical Concerns for Funding Portals

Look Out for Traps Charlie DeTar

As discussed in part one, the SEC’s final Regulation Crowdfunding rules require thorough analysis to not fall prey to potential traps. While I firmly believe that we can make crowdfunding work regardless of the roadblocks set forth, it does not mean that we can afford… Read More

SEC Adopts New Rules that Revise Financial Reporting for Smaller Firms as Mandated by the FAST Act

SEC Securities and Exchange Commission

The Securities and Exchange Commission (SEC) has adopted “interim final rules” as mandated by the Fixing America’s Surface Transportation or FAST Act that was passed by Congress in December.  These new rules revise financial reporting for emerging growth companies (EGCs) and smaller reporting companies.  EGCs… Read More

Save the Date: SEC Investor Advisory Committee Meets on January 21st

Mary Jo White at IAC

Unless winter happens to show up in our nation’s capital, the SEC’s Investor Advisory Committee is scheduled to meet at the Commission’s headquarters on January 21st. These meetings are open to the public but the SEC typically live-streams the proceedings so anyone may watch the… Read More

SEC Calls for Entry of Default Against Bitcoin Miners Gaw Miner / ZenMiner

Punishment Stocks Crime

The Securities and Exchange Commission charged two Bitcoin mining companies for a Ponzi Scheme last month as part of an ongoing investigation into the activities of Homero Joshua Garza. Yesterday the SEC filed for an entry of default as  Garza apparently has not responded to… Read More

Potential Pitfalls of Regulation CF – Part I: Practical Concerns for an Issuer

mouse trap danger

  When SEC Commissioner Piwowar lodged his controversial “NO” vote for the final rules implementing Title III Regulation CF last October, he did so with concern that the overcomplicated rules were laden with “traps” that could snare an unassuming company trying to raise funds. Unfortunately,… Read More