SEC Posts Agenda for Rule 147/504 Meeting Impacting Intrastate Crowdfunding

Mary Jo WhiteThe Securities and Exchange Commission is out with their agenda for the open meeting taking place at SEC HQ tomorrow (October 26,2016).  At 10AM 11AM, the Commission will meet to discuss the Universal Proxy and Rules 147 and 504 that impact intrastate crowdfunding.  If you want to better understand why this is so important, Anthony Zeoli just published an article on the subject. Expectations are for the Commission to modernize rules to improve the environment for raising capital online.

The agenda is reproduced below. The meeting will be live-streamed on the SEC website beginning at 10AM ET.

Item 1: Universal Proxy
Office: Division of Corporation Finance
Staff: Michele Anderson, Christina Chalk, Steven Hearne and Tiffany Posil

The Commission will consider whether to propose amendments to the proxy rules relating to the use of universal proxy cards and disclosure about voting options and voting standards in director elections.

For further information, please contact Tiffany Posil in the Division of Corporation Finance at 202-551-3440.

Item 2: Exemptions to Facilitate Intrastate and Regional Securities Offerings
Office: Division of Corporation Finance
Staff: Betsy Murphy, Sebastian Gomez Abero, Anthony Barone, Jenny Riegel and Ivan Griswold

The Commission will consider whether to adopt rule amendments related to Securities Act Rules 147 and 504 to facilitate intrastate and regional securities transactions and whether to repeal Securities Act Rule 505.

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