Politics, Legal & Regulation

October 2, 2013 @ 6:01 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has awarded more than $14 million to a whistleblower whose information led to an SEC enforcement action that recovered substantial investor funds.  This award is the largest to date from the Whistleblower program.  Payments to whistleblowers are made from… Read More

October 1, 2013 @ 11:19 am By Charles Luzar  |  

The JOBS Act may have been the last thing the US Congress could agree on. For now, vitriol and disagreement over issues, including but not limited to funding of the Affordable Care Act, have resulted in a government shutdown. What does this mean for the… Read More

October 1, 2013 @ 10:06 am By JD Alois  |  

The Conservative Party Conference is being held in Manchester, United Kingdom, from September 29th to October 2nd. The agenda includes the expected speeches of party leaders and tributes to past luminaries.  The agenda also includes an important recognition as to what entrepreneurs bring to the… Read More

September 30, 2013 @ 6:30 am By Samuel Guzik  |  

September 23, 2013 kicked off an historic period in federal securities laws.  For the first time in 80 years companies would be allowed to publicly solicit investors in unregistered private placements so long as all of the investors were accredited.  The SEC did so under… Read More

September 27, 2013 @ 7:00 am By Samuel Guzik  |  

Still Time to Comment on SEC’s Proposed Regulation D General Solicitation Rules? On July 10, 2013, the SEC issued its final rules allowing general solicitation and advertising in unregistered private placements, provided all of the investors were accredited, effective September 23, 2013.  However, on the… Read More

September 26, 2013 @ 1:16 pm By JD Alois  |  

In a speech delivered in Chicago, SEC Chair Mary Jo White outlined her approach regarding the SEC’s enforcement approach.  Calling for a need to be both “aggressive and creative”, the Chair described a strict approach where both large and small cases will be pursued. White… Read More

September 25, 2013 @ 2:08 pm By JD Alois  |  

As the Securities and Exchange Commission (SEC) delays final regulations pertaining to final legalization of crowdfunding, various state legislatures have taken matters into their own hands in their efforts to create jobs as opposed to over-regulating the capital formation process.  Now New Jersey has tossed… Read More

September 25, 2013 @ 9:00 am By Charles Luzar  |  

The SEC wants to examine how issuers are making use of general solicitation, and in order to do so they’re going to need some help. The SEC’s web site now includes a form that allows digital submission of written materials used for the purpose of… Read More

September 25, 2013 @ 6:49 am By JD Alois  |  

CraftFund is a niche equity crowdfunding platform focused exclusively on the craft beer and food industries. Breweries and food companies may now being building their profile pages on the CraftFund crowdfunding platform.  As CraftFund continues in their holding patter while the SEC continues to delay… Read More

September 24, 2013 @ 9:33 am By Charles Luzar  |  

Yesterday general solicitation became legal for issuers opting to make use of the newly-minted Rule 506(c) of Regulation D. The option was added to Form D yesterday, which is available on the SEC’s web site. Some news outlets reported that Form D had to be filed… Read More

September 21, 2013 @ 1:24 pm By JD Alois  |  

In a message to AngelList members, the accredited investor platform announced that “Public Fundraising” starts on Monday, September 23, 2013.  This date coincides with the SEC designated date when the ban on “General Solicitation” or advertising has been lifted on certain private placement offerings. Companies… Read More

September 20, 2013 @ 5:12 pm By JD Alois  |  

Forum is to provide a platform to highlight perceived unnecessary impediments to small business capital formation and address whether they can be eliminated or reduced. Mandated by the Small Business Investment Incentive Act of 1980, the SEC has scheduled their annual forum that focuses on… Read More

September 19, 2013 @ 2:45 pm By Charles Luzar  |  

Ahead of the official lifting of the ban on general solicitation slated for September 23rd, angel investors are becoming more vocal in their opposition to choice parameters of the new rule. A recent petition launched on ipetition.com targets three specific aspects of the rule that… Read More

September 19, 2013 @ 10:18 am By Charles Luzar  |  

Yesterday the SEC held a meeting of top advisors and staff to discuss the latest rulemakings and initiatives from within the Commission. The Angel Capital Association was invited to speak on a new rule to go into effect on September 23rd that lifts the ban… Read More

September 18, 2013 @ 9:39 am By JD Alois  |  

Menlo Park, California based iLobby has released a beta version of its grassroots-lobbying platform. The site describes their application as a  “Political Persuasion Platform”.   Founded in 2012, the site intends on catering to small businesses and trade associations. It offers an open community debate… Read More

September 18, 2013 @ 6:11 am By Julia Groves, Chair UKCFA  |  

Crowdfunding, and in particular crowdinvesting, is the result of deep dissatisfaction, anger even, at where our financial services industry has delivered us today. The financial crisis brought people onto the streets in protest at the behaviour and lack of contrition from our mega financial institutions…. Read More

September 17, 2013 @ 8:04 am By Samuel Guzik  |  

September 23, 2013, represents an historic milestone for the U.S. securities industry. For the first time since the enactment of federal legislation in 1933, companies will be allowed to publicly solicit investors and advertise the sale of securities without registering the offering with either the… Read More

September 10, 2013 @ 8:05 pm By Charles Luzar  |  

Point of Law is a great resource for digestible breakdowns of regulation and bureaucratic legal-speak. Today Jonathan B. Wilson published a great breakdown of Wisconsin’s proposed crowdfunding exemption this morning. One paragraph is of particular importance… In a strange twist, however, the Wisconsin bill would… Read More

September 10, 2013 @ 4:46 pm By JD Alois  |  

Agenda Includes Important Issues Regarding Jobs Act Implementation. The Securities and Exchange Commission has released the agenda for their meeting of the Advisory Committee on Small and Emerging Companies to be held on Tuesday, September 17, 2013. The discussion is expected to include the final… Read More

September 4, 2013 @ 11:08 pm By JD Alois  |  

In a letter posted in the comments section of the Securities and Exchange Commission’s (SEC) web site, requesting feedback regarding forthcoming regulations addressing the change in rules impacting “General Solicitation” (Advertising), crowdfunding platform RockThePost takes the SEC to task for excessive regulatory zeal.  The missive… Read More