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
Since the 1930’s Regulation A has been unremarkable as a little known and little used “exemption” from the full SEC registration process – intended to allow smaller companies to access public markets through a streamlined SEC registration process – with “reviewed” financial statements and no… Read More
The North American Securities Administrators Association (NASAA) has called upon the Securities and Exchange Commission (SEC) to make substantial revisions to its Regulation A proposed rule. The NASAA has requested these changes be made “to remove potential harms to issuers and investors, especially those of… Read More
On February 19, 2014, in a missive to the SEC, signed by 18 state securities administrators, under the letterhead of the North American Securities Administrators Association (“NASAA”), the message was clear: “[we] write to voice our objection to the Commission’s attempt to preempt state authority… Read More
The North American Securities Administrators Association (NASAA) has posted a comment letter regarding proposed rule amendments regarding Regulation A+ on the Securities and Exchange Commission’s web site. The NASAA is self described as an investor protection association with their members consisting of securities administrators from… Read More
We caught wind of a proposed crowdfunding exemption in the State of Alabama in the fall of 2013. As any regular reader of Crowdfund Insider knows, intrastate crowdfunding exemptions are popping up left and right as of late. Just this week we reported on proposed legislation… Read More
According to reports, the hearing scheduled by the Ohio Division of Securities with former SoMoLend CEO Candace Klein has now been postponed until late February 2014. This is the second postponement for the Cease and Desist notice which was originally filed by the state of… Read More
Under the direction of Ohio Division of Securities Commissioner Andrea Seidt, the NASAA has recently released an updated list of their top investor threats for 2013. Among them: “unregulated third party service providers,” a category that would include crowdfunding portals. Seidt explained the reason for… Read More
SoMoLend and the Ohio Division of Securities have been on a crash course since a notice of intent to issue a cease and desist was filed back in August of 2013. The hearing, originally scheduled for this week, has been postponed until January according to… Read More
Ohio Division of Securities Commissioner Andrea Seidt is now acting President of the North American Securities Administrators Association (NASAA), the “oldest international organization devoted to investor protection.” She was previously Vice President of the NASAA. She replaces A. Heath Abshure of Arkansas as President of… Read More
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