Tagged: sec

SEC Commissioner Gallagher: Commission Should Provide Written Responses to ACSEC Committee Recommendations

Daniel Gallagher ACSEC Committee

Outgoing SEC Commissioner Daniel Gallagher presented a statement at the opening of the SEC Advisory Committee on Small and Emerging Companies (ACSEC).  Gallagher lauded the group’s commitment, energy and dedication over the past two years calling the members work “critical in helping to bring forward… Read More

SEC Renews Advisory Committee on Small & Emerging Companies for 2 More Years

ACSEC 2015

The SEC has renewed the mandate for the Advisory Committee on Small and Emerging Companies (ACSEC) for two more years.  The committee’s charter is to  provide the SEC with advice on rules and policies that protect investors while aiding in capital formation, specifically with SMEs…. Read More

Advisory Committee on Small & Emerging Companies Submits Recommendations to SEC

ACSEC 2 September 2015

The Advisory Committee on Small & Emerging Companies (ACSEC) convened today (September 23, 2015), submitting their recommendations on three different areas regarding securities regulations. The three items include: Modernizing Rule 147 under the Securities Act of 1933 (impacting intrastate investment crowdfunding) Expanding Simplified Disclosures for Smaller… Read More

SEC Commissioner Gallagher: Thank You For Your Thick Skin

Daniel Gallagher Dont Be Bullied 2

It was bittersweet walking into Commissioner Daniel Gallagher’s office for the first and last time. He has been a true champion for small business and access to capital and we all owe him a debt of gratitude. It was also wholly appropriate that the amazing… Read More

SoFi Surpasses $4 Billion in Funded Loans; Adds Former SEC Chairman Arthur Levitt as Advisor

Arthur Levitt

SoFi, the second largest marketplace lender, today announced Arthur Levitt, the longest-serving chairman of the US Securities and Exchange Commission (SEC), will become an advisor.  Levitt served at the SEC from 1993 to 2001. The firm also announced it has surpassed $4 billion in funded… Read More

SEC Commissioner Daniel Gallagher to Depart Commission by October 2nd

Daniel Gallagher

Securities and Exchange Commissioner Daniel Gallagher announced in a brief statement today that he intends on departing the SEC no later than October 2nd.  His term was not set to expire until 2016. Gallagher submitted his resignation to President Obama in May of 2015 but… Read More

Massachusetts & Montana Continue Assault on SEC & Regulation A+

Montana Massachusetts Take AIM at SEC

As aptly stated in one publication, Massachusetts and Montana are giving Regulation A+  – an F.  While the failing grade is perplexing to most casual observers, the battle over this new investment crowdfunding exemption and the petitioning states is nowhere near completion. In a filing… Read More

XTI Aircraft Company Launches Equity Crowdfunding Campaign on StartEngine For Vertical Takeoff Airplane


A group of business aviation visionaries today invited the world to help shape and own the future of flight. Starting today, aviation enthusiasts and crowdfunders nationwide are actively participating in the launch of XTI Aircraft Company’s (XTI) equity crowdfunding campaign on StartEngine, which is considered the first funding effort… Read More

Symbid Co-Founder & CEO Korstiaan Zandvliet: Commitment to Transparency Sets Platform Apart from Competitors

Symbid Quote

“The last three months have seen around $150 million provided to 144 small businesses within The Funding Network. We’re estimating our total funding volume in 2015 to be around $800 million. Beyond that, I see huge potential for Symbid if we can continue to expand… Read More

Legal: Drafting the Regulation A Offering Statement

Money Benjamin Franklin 100

If your company has decided to take advantage of the new avenues for reaching investors under Regulation A, the biggest task you face will be preparing an offering statement that includes mandatory disclosures about the offering and the offeror, and obtaining Securities and Exchange Commission… Read More

SEC Issues New Guidance: Use Of The Internet Not Always Considered General Solicitation

SEC Guidance

Last week the Securities and Exchange Commission (SEC) responded to a “no-action” letter (RE: Citizen VC, Inc.) concerning the establishment of “substantive relationships” with previously unknown potential investors and what constitutes “general solicitation” in the context of a private securities offering. The SEC also issued… Read More

RealtyShares Gives Feedback on SEC No Action Letter Responding to Citizen.VC

No Action

Real estate platform RealtyShares has shared their perspective on the recent no-action letter issued by the SEC in response to an inquiry by Citizen VC, Inc. as to that company’s method of onboarding new investors. The letter forwarded to the SEC by Citizen.VC counsel Mintz Levin outlined several policies and… Read More

Citizen.VC Receives No Action Letter from SEC Regarding General Solicitation

Walking to the SEC Securities and Exchange Commission

Citizen.VC, a online investment platform that leverages 506(b) Reg D private placements but NOT 506(c) placements, has received a “No Action” letter from the SEC regarding questions and clarifications as to what qualifies as general solicitation and the establishment of relations with investors.  The guidance… Read More

SEC Commissioner Gallagher: Dodd-Frank has Failed. It is Strangling the Economy.

Russia USSR Soviets Financial Regulation

In what may be his last speech as an SEC Commissioner, Daniel Gallagher addressed the US Chamber of Commerce and criticized parts of the SEC, and much of the new world order of regulatory over-sight.   Gallagher scorched Dodd-Frank as a grandiose plan that has increased the fragility of… Read More

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