Tagged: sec

SEC Launches Probe of Pre-IPO Tech Stock Sales Transactions

Wanted Private Transactions

  What started as an action against a single company in late June has evolved into a probe of an entire industry. As reported by the Wall Street Journal late last week, the Securities and Exchange Commission (SEC) has launched a new probe spurred by… Read More

Social Dieting Website WayBetter Obtains $9.3M in Investment Interest on SeedInvest in Just 48 Hours in First Campaign Under New Mini-IPO Rules (Infographic)

WayBetter Lose Weight

SeedInvest, an equity crowdfunding platform, announced on Friday that WayBetter, which runs the social dieting website, DietBet, successfully conducted one of the first “testing the waters” fund-raising campaigns under the new mini-IPO rules, which went into effect on June 19th. The company received $9.3 million of investment interest… Read More

Advisory Committee on Small & Emerging Companies Schedule Call on Treatment of “Finders”

ACSEC Kara Stein and Stephen Graham

The SEC Advisory Committee on Small and Emerging Companies (ACSEC) has scheduled a call for July 15th at 1PM ET to discuss the issue of “finders”.  This references the regulatory treatment of individuals who connect investors with companies seeking capital. The rules regarding finders remain… Read More

What is Regulation A? SEC Issues Investor Bulletin on Reg A+

SEC Regulation A+

The Securities and Exchange Commission only recently finalized rules on Title IV of the JOBS Act, commonly referred to as Regulation A+.  While old Regulation A has been around for quite some time, few utilized the exemption as it was encumbered with costly, and time… Read More

Millennium Trust Company Receives $5.6 Billion In Private Fund Assets under Custody

Millennium2

Millennium Trust Company, a provider of alternative asset custody solutions to institutions, advisors, and individuals, announced today that assets under custody for private funds have surpassed $5.6 billion as of June 1, 2015, an increase of $600 million within the last six months. The firm’s… Read More

Gregg Mulholland, Previously Charged by SEC for Pump & Dump Scheme Involving Rudy Ruettiger, is Charged with Illegally Selling Penny Stock Shares

fraud

The SEC has charged Gregg R. Mulholland of secretly accumulating “at least” 84% of shares in Vision Plasma Systems.  Once Mulholland effectively controlled the company, he liquidated shares for proceeds of approximately $21 million.  The SEC states that no registration statement was filed on the… Read More

SEC Staff Provides Early Guidance on Use of Regulation A+

SEC Regulation A+

  On June 23, 2015, the Staff of the Securities and Exchange Commission provided some public guidance on certain issues arising under the new Regulation A+ Final Rules. In a new section of the SEC’s Compliance and Disclosure and Interpretations (C&DI’s),  a Q and A… Read More

Brief: Seed Equity Ventures Reaches Milestone By Registering Investors and Entrepreneurs from 100 Countries on Equity Crowdfunding Platform

todd crosland

Seed Equity Ventures announced today that it now has registered investors and entrepreneurs from 100 countries. An executive partner from an investment bank in the North African country of Tunisia registered as an investor today bringing the platform 100 countries. Seed Equity is a registered broker dealer… Read More

Montana & Massachusetts Update “Fools Errand” SEC Lawsuit

Damage Dollar Money

The states of Massachusetts and Montana have filed a joint preliminary statement of issues. Once again the two state securities regulators, William Galvin in Massachusetts and Monica Lindeen in Montana, are reiterating their criticism of the SEC and recently enacted rules for Regulation A+. The… Read More

Regulation A+ Day 1: A Look Past the Mainstream Media Headlines

Extra Extra Title III

And Regulation A+’s Forgotten Crowdfunding Cousin Quietly Comes to Life in Congress Some History Lessons Though some may quibble over the details, June 19, 2015, was an historic day in U.S. regulatory history, at least as far as raising capital for small businesses is concerned… Read More

TriPoint Global Equities & BANQ Now Accepting Reg A+ Issuers

TriPoint Global Equities, LLC.

TriPoint Global Equities, LLC. (“TriPoint”), a FINRA member and leading boutique investment bank that provides companies with capital raising and corporate & strategic advisory services, announced that with the effectiveness of Reg A+ as of today (June 19th) its electronic platform, BANQ, is now accepting issuers looking to… Read More

SEC Settles Charges with Silicon Valley based Sand Hill Exchange. Company Sold Contracts Referencing Pre-IPO Startups using Dollars & Bitcoin

Sand Hill Oh Snap

The SEC has announced the conclusion of an investigation regarding Silicon Valley based Sand Hill Exchange, a firm that was apparently selling security based swaps to retail investors without a necessary registration statement and outside a national exchange. Sand Hill Exchange settled without admitting or… Read More

SEC Advisory Committee Recommends Modernizing Rule 147 To Support Intrastate Crowdfunding

ACSEC Kara Stein and Stephen Graham

The Securities and Exchange Commission’s (SEC) Advisory Committee on Small and Emerging Companies met in early June to discuss various topics concerning, of course, small businesses. One of the primary topics the Committee addressed was the growing enactment and use of state-based crowdfunding (i.e. “Intrastate… Read More

Preparing to Hire a Financial Advisor? Check them Out First Here.

SEC Commissioners in 1934 including Joseph P Kennedy

The Securities and Exchange Commission is celebrating 81 years of guiding financial markets this month. While there have been more than a few ups and downs since the ’34 Act that created the SEC (on June 6th), their mission remains true in guarding investors and… Read More

Warren Wrong: Senator’s Attack on Mary Jo White is Misdirected

Senator Elizabeth Warren

Senator Elizabeth Warren, an outspoken critic of all things associated with Wall Street, launched a blistering frontal assault against the current Chair of the SEC – Mary Jo White. It should be noted that Mary Jo White was selected by President Barack Obama to reinvigorate… Read More

Capital Unbound; Piwowar Suggests Regulators Need Restraining & Crowdfunding Should Look to States

Michael Piwowar quote

A CATO Institute event on the status of capital markets in the US provided a bright spot to an otherwise bleak and rainy day in New York City. Amidst the libertarian rhetoric and literature, two speakers stood out with certain observations and proposed remedies to… Read More

SEC Commissioner Piwowar Slams Fed’s Push to Expand Regulatory Oversight of “Shadow Banks”

Michael Piwowar

In an interesting speech delivered at the Exchequer Club in Washington, DC, last month, SEC Commissioner Piwowar criticized federal regulators push to expand oversight into areas overlapping with the responsibility of the SEC.  Piwowar slammed the infringement; “Make no mistake — it is the Commission, not the… Read More

Indiegogo’s Kate Drane Reveals Campaign Success Secrets & Her Thoughts on Equity Crowdfunding

Kate Drane

Earlier this week, Indiegogo’s hardware category lead Kate Drane sat down with France’s startup blog Rude Baguette during Connected Conference to discuss crowdfunding success and the rise of equity crowdfunding. During her interview, Drane shared some advice on how project creators should form a community before campaign launch:… Read More