Tagged: sec

SEC Commissioner Gallagher: International Financial Stability Board “The Height of Regulatory Hubris”

Daniel Gallagher Title IV

In a world of growing governmental over-reach it is rare to find a regulator who wants to do less not more.  But it makes sense. Budgets are made, and funding allocated, based on predicted needs of tomorrow not the reality of last year. Legislators make rules and then push to implement them all in the name… Read More

Brief: SEC Investor Advisory Committee Meets on April 9th

SEC Securities and Exchange Commission Green

The Investor Advisory Committee is scheduled to meet at the offices of the SEC this week on Thursday, April 9th from 9:30 a.m. until 4:00 p.m.  The meeting will be webcast on the Commission’s website. The agenda, as distributed by the SEC, is published below. Agenda: April 09, 2015, Meeting of the Securities and Exchange Commission Investor Advisory Committee… Read More

Regulation A+ : A Practical Perspective

Regulation A+ Panning for Gold

By now, the startup world has heard the news. Finance blogs are ablaze, and twitter feeds are lighting up with word that capital just became a whole lot easier to access. Entrepreneurs from coast to coast are leaning back in their chairs, greedily steepling their fingers together like Mr. Burns…or are they? Let’s quickly review… Read More

Commissioner Gallagher Delivers Incomplete Report Card to SEC; Derides Nanny State Protection

Incomplete

We reported on Saturday that Commissioner Daniel Gallagher had visited the land of the Commodores in Nashville and delivered a piercing speech where he labeled Title III, retail crowdfunding as similar to former East Bloc Germany. While I wondered who would play the role of Markus Wolf, the Stasi Spymaster, he was driving home a… Read More

FACT SHEET: Regulation A+, Title IV of the JOBS Act

SEC Headquarters in DC

The Securities and Exchange Commission has put together a nice fact sheet on Title IV of the JOBS Act, commonly referred to as Regulation A+.  The final rules, available here, encompass a 450 page document sharing the process behind the decision making process.  The fact sheet is akin to Cliff Notes and provides a solid… Read More

Commissioner Gallagher: Title III Crowdfunding is “1970s East Germany”

Nva-ehrenwache East German Soldiers by Michail Jungierek

SEC Commissioner Daniel Gallagher gave a speech yesterday at the Vanderbilt Law School in Nashville. While the text of the speech is not yet available, Bloomberg has quoted  the Commissioner on Title III of the JOBS Act as being smothered by red-tape.  Effectively he is highlighting that a good policy idea has gone bad because crafted… Read More

All in: CFIRA Applauds SEC Commissioners Approval of Reg A+

SEC Commissioners Should Finalize Regulation A

The U.S. Securities and Exchange Commission (SEC) unanimously adopted final rules on Wednesday to expand Regulation A, an existing securities registration exemption, under Title IV of the JOBS Act, often referred to as “Regulation A+.” The expansion of Regulation A will expand capital markets for small public securities offerings. The final rules, which will become effective in the… Read More

CommunityLeader to SEC: Thanks for Publishing Reg A+ Rules!

Gallery of SEC Commissioners

On Wednesday, the SEC Board of Commissioners approved the publishing of the rules associated with the Jobs Act 2012 Title IV. Now, the executives at CommunityLeader, Inc., a technology and service leader in the emerging crowdfunding industry, is ready to share their thoughts about the rules. Commonly referred to as Reg A+, the new rules reform… Read More

Title IV of the JOBS Act Final Rules (Document)

CorpFin SEC Title IV

Below is the “draft” of final rules of Title IV of the JOBS Act. Also known as Regulation A+ the below document will become final following a 60 day period after publication in the Federal Register. The 453 page document will be reviewed by the Office of Management and Budget under “Major Rule Analysis”according to… Read More

SEC to Require Broker/Dealers Active in Off-Exchange Market to Become Members of National Securities Association

SEC Commissioners Mary Jo White

The Securities and Exchange Commission today proposed rule amendments to require that broker-dealers trading in off-exchange venues become members of a national securities association.  The amendments are designed to enhance regulatory oversight of active proprietary trading firms, such as high frequency traders (HFT). “This proposal embodies a simple but powerful principle of the federal securities… Read More

Final Rules for Title IV of the JOBS Act to Include State Pre-emption But for Tier 2 Only

Mary Jo White Title IV Hearing

The Securities and Exchange Commission met today to finalize rules for Title IV of the JOBS Act, commonly referred to as Regulation A+.  As expected the Commission quickly approved rules that included state Blue Sky pre-emption but for only Tier 2 of Title IV.  The vote for final rules was unanimous but included some reservations… Read More

Real Estate Firms Eye Forthcoming Rules of Regulation A+

Ben Franklin Close Up 100 hundred money dollars

Later this morning the Securities and Exchange Commission will be releasing final rules for Title IV of the JOBS Act otherwise known as Regulation A+. While the details are not yet know, the expectations are for proposed rules to allow raised of up to $50 million without having to go through the state review process…. Read More

LOOKING FOR THE EXIT – Commissioner Aguilar Presses On The Need For Greater Secondary Market Liquidity 

Where is the Exit 2

Earlier this month, Commissioner Luis A. Aguilar addressed the Advisory Committee on Small and Emerging Companies in Washing D.C. In his speech (embedded below), Commissioner Aguilar echoed the sentiments of the market in arguing the need for increased liquidity in the private placement market. His speech goes well beyond that point however, as he highlights… Read More

SEC Schedules Open Meeting on Rules for Title IV of the JOBS Act

SEC Commissioners Mary Jo White

The Securities and Exchange Commission has announced an open meeting to be held on Wednesday, March 25th, to consider whether to adopt rules and forms related to the offer and sale of securities pursuant to Section 3(b) of the Securities Act of 1933 to implement Section 401 of the Jumpstart Our Business Startups Act.  This… Read More

SEC Investor Advisory Committee Scheduled to Meet in April. Will Review Recommendations of SME Committee

Barbara Roper Investor Advisory Committee

The SEC Investor Advisory Committee (IAC) has scheduled their next gathering at F Street in DC to be held on April 9th.  The group is ostensibly an advocate on behalf of all investors but has a tendency to be more on the side of protection as opposed to facilitating access to investment opportunity and choice. According to… Read More

Q-&-A: PENSCO CEO Kelly Rodriques Discusses The Definition of ‘Accredited Investor,’ The JOBS Act And More

Kelly Rodriques and Eileen Loustau

Shortly into 2015, Kelly Rodriques, president and CEO of PENSCO Trust Company, a leading alternative asset custodian, shared his top five predictions for the year underway. Crowdfund Insider caught up with him for a more detailed Q-and-A about his predictions—from the $1 million investment cap on Title III retail crowdfunding, to how a person should… Read More

Securities & Exchange Commission: Things to Look Out for in Spotting Internet Fraud

SEC Investor Advocates

The Securities and Exchange Commission has a pretty important, and at times overwhelming, task.  Regulating and enforcing the largest securities markets on the planet is a profound responsibility. The advent of the internet has added a new, and quite challenging, variable to the process as well. Communication and social engagement occurs around the clock without… Read More

Reg A Plus & Developing Venture Exchanges (Webinar)

TItle IV JOBS Act slide

Crowdfund Insider Senior Contributor, Sam Guzik, joined David Weild, former Vice Chair of Nasdaq, in a presentation last week on current issues regarding capital formation for SME’s. The discussion reviewed Title IV of the JOBS  Act (Regulation A+), the need for venture exchanges for secondary transactions of new types of securities, and what certain regulatory changes… Read More

Part II: Due Diligence to Identify “Bad Actors” In Private Offerings under Rule 506

Wanted Poster White Collar Crime FBI Bad Actor

This the second part, of a two part series, reviewing Bad Actors in private placements.  The first article may be viewed here. The Securities and Exchange Commission (SEC) issued new Rule 506(d) in 2013, a rule that bars felons and other specified “bad actors” from participating in private offerings of securities under Rule 506 of… Read More

Former SEC lawyer & Forbes Columnist Edward Siedle Launches Crowdfunding Platform For Retirement Plan

Edward Siedle

Earlier this month, former SEC lawyer and now Forbes columnist, Edward Siedle, launched a crowdfunding platform, Investigate My Retirement Plan, which is dedicated to helping participants to investigate retirement pensions. According to Pensions & Investments, Siedle noted that through the new platform participants in defined benefit and contribution plans may propose forensic investigations and initiate… Read More