Tagged: sec

This Presentation Shows How Huge the Reg D Private Placement Market is in the US

Public vs Private Capital Raising

The presentation below was created by SEC Senior Financial Economist Vladimir Ivanov and incorporates data on the private placement securities market through 2013.  While there are other available reports the research provided by Ivanov is probably the best.  Prior to his first review in 2012 no one really knew how significant private placements are to… Read More

SEC Submits Changes to Exchange Act Registration Requirements Moving Forward on Title V & Title VI of JOBS Act

SEC Securities and Exchange Commission Green

As part of the JOBS Act, the SEC has proposed amendments that addresses Title V and Title VI of the Act.  The revised rules relate to the thresholds for registration, termination of registration, and suspension of reporting under Section 12(g) of the Exchange Act. The SEC will seek public comment on the proposed rule amendments for 60… Read More

Angel Capital Association: How to Define an “Accredited Investor”

$50 Grant

At the recent Small Business Forum at the SEC held this past November one of the hot topics of discussion was the definition of an “Accredited Investor”.  As it stands today, an accredited investor is a wealthy sort that earns over $200,000 per year or happens to have $1 million in his or her bank… Read More

SEC Advisory Committee on Small and Emerging Companies


The SEC Advisory Committee on Small and Emerging Companies will hold its next meeting on Wednesday, Dec. 17, beginning at 9:30 a.m. ET.  The committee will focus on the interests and priorities of emerging and smaller public companies. The December 17 meeting will be held at the SEC’s headquarters at 100 F Street, N.E., Washington,… Read More

2015: The Ascendency of Small Business & the Middle Class in Washington, DC

Reason to Be Hopeful 2015 Washington DC

As 2014 comes to a close, this is the time of year when all good journalists look back at the year’s events, and then look forward – typically with a list of bold predictions for the year ahead.  For those of you focused on small business capital formation in our Nation’s Capital, the former task… Read More

Engine: Dear SEC, Finalize JOBS Act Rules Now

JOBS Act US Capital Christmas

Today, Engine sent a letter signed by more than 200 entrepreneurs, investors, and members of the startup community to the Securities Commission to tell the agency it’s time it fulfills its statutory obligation and finalize rules to make the JOBS Act a reality. You can find the full text of the letter below and read… Read More

SEC Advisory Committee on Small & Emerging Companies to Tackle Accredited Investor Definition

SEC Headquarters in DC

The Securities and Exchange Commission (SEC) has released the agenda for the Advisory Committee on Small and Emerging Companies that is set to meet on December 17th.  This committee has been dormant for quite some time and recently SEC Chair Mary Jo White re-animated the group recognizing the benefit it may play in the ongoing… Read More

CFIRA CO-Chair DJ Paul Interviewed by Benziga (Audio)

dj paul

CFIRA Co-Chair and Propelr Co-Founder DJ Paul was interviewed yesterday on Benziga as part of their pre-market prep show. The early discussion covers the basics, IE Title II, III and IV of the JOBS Act that deals with investment crowdfunding and the associated regulatory reform that enables this new approach.  Paul then continues to dive… Read More

Alphaworks CEO Calls on SEC to Act & Finalize Title III Crowdfunding Rules

Erin Glenn

Alphaworks is part of the Betaworks family that is building really cool companies. Betaworks is a New York based entrepreneur factory that  claims Ken Lerer as Chairman and John Borthwick as Founder and CEO.  Lerner was one of the founders of HuffPo and lists a few other big names on his CV like Buzzfeed. Borthwick… Read More

Consensus Forming in Washington, DC on Accredited Investor Definition

Approved Accredited Investor Stamp

  Momentum is building towards a consensus on the highly controversial updates to the accredited investor definition (currently a person who has over $200,000 in income (or $300,000 jointly with spouse) or over $1M in net worth, excluding personal residence). Initially, there was some suggestion that these thresholds should be increased to adjust for inflation… Read More

Groundfloor Shocker as it Backs NASAA Process on State Blue Sky Review

The Battle of Blue Sky Review

  Groundfloor, a real estate investment crowdfunding platform based in Atlanta that offers “micro-loans”, posted a comment letter on the SEC site in mid November sharing their opinion on the hot topic of State Blue Sky Pre-emption:  something viewed by many as a compelling aspect of Title IV of the JOBS Act.  The industry has… Read More

SEC Fines Bitcoin Virtual Stock Exchange for Conducting Unregistered Offerings

BTC Virtual Stock Exchange App

The Securities and Exchange Commission has shut down two online virtual currency trading platforms that were creating markets in Bitcoin and Litecoin.    The sites were cited as operating without registering as broker-dealers or stock exchanges.  The sites were actually turned off in late 2013 by programmer Ethan Burnside.  The  SEC stated that Burnside “significantly… Read More

SEC List Pushes Date Back for JOBS Act Rules on OMB Site

Washington Monument DC

The Securities and Exchange Commission agency rule list for the Fall of 2014 has recently been updated on the Office of Information and Regulatory Affairs web site.  The OIRA is part of the Office of Management and Budget. Remaining rules of the JOBS Act have seen their final rule making dates pushed back to October… Read More

Brief: Firm Issues Client Alert on Rule 506(c) Compliance


Recently the first funding portal was cited by the SEC as not abiding by Rule 506(c) in regards to confirming investors were accredited.  Rule 506(c) is from Title II of the JOBS Act and refers to accredited crowdfunding and the ability to advertise or promote certain private placements.  The SEC determined the site had acted… Read More

On the Misplaced Priorities of Dodd-Frank & the SEC: A Call for a “New Deal” in Washington for America’s Small Business

Great Depression Dodd Frank Quote Sam Guzik

It could have been the kickoff of a grand political campaign – a slogan that would be proud to adorn a bumper sticker for the most ambitious of politicians – and a sound byte that would be sure to grab the next day’s headlines in the Washington, D.C. press – one that would make a… Read More

SEC Chair Mary Jo White: “Small Businesses Play a Crucial Role in the Growth of Our Nation’s Economy & the Creation of New Jobs for Americans”

SEC Commissioners Mary Jo White

The week of November 17th should be officially designated “SME Regulatory Week” due to the number of events that occurred in our nation’s Capitol over several days.  The primary draw was the SEC Government-Business Forum on Small Business Capital Formation. In contrast to past years, each SEC Commissioner made an appearance (Aguilar phoned in from… Read More

Perspective: SEC Small Business Forum on Capital Formation Recap

SEC Small Business Capital Formation Forum 2014

The 2014 Securities and Exchange Commission Government-Business Forum on Small Business Capital Formation ensued on November 20, 2014 at the SEC headquarters in Washington, D.C. In usual form, since the signing of the Jumpstart Our Business Startups Act (JOBS Act), the crowd (attorney’s, issuers, intermediaries, regulators, investors, service providers) scurry to wait with baited breathe to hear the… Read More

SEC Commissioner Gallagher: Millionaires Can Fend for Themselves

SEC Why Should We Spend Limited Resources on Millionaires Gallagher

  Last week I had the opportunity to attend the 2014 Government-Business Forum on Small Business Capital Formation in Washington D.C. where Commissioner Daniel M. Gallagher gave his opening remarks after the first panel. In what I can only refer to as a “mic drop” moment, he brought the audience to instant applause when we… Read More

SEC Government – Small Business Forum: A Tale of Two Gatherings

SEC Small Business Capital Formation Forum 2014 Mary Jo White

For those of you who have been reading my articles over the past four months, I have tried to create heightened awareness of a perennial SEC event, the SEC Government-Small Business Forum, an annual event borne out of bi-partisan legislation in 1980. Its primary purpose: to highlight and address unnecessary impediments to small business capital… Read More

Prodigy Network Launches New Transactional Real Estate Crowdfunding Platform

BD Bacata Over $170 Million Crowdfunded Prodigy Network

Prodigy Network has announced the launch of its new real estate crowdfunding website, which will feature a secure transactional platform to permit accredited investors – certain investors who have regular income of over $200,000 or net worth, excluding their primary residence, of over $1 million – to invest in real estate opportunities. Prodigy Network and… Read More