Tagged: dodd frank

SEC Commissioner Gallagher: Thank You For Your Thick Skin

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

Dick Bove is Right About Dodd-Frank but Wrong About Marketplace Lending

Dick Bove, an equity research analyst and frequent commentator on CNBC, has published an Op-Ed on CNBC about the legislative disaster called Dodd-Frank.  Bove does not mince words when he states,  “I thought it would be impossible to find a worse piece of legislation in… Read More

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

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

5 Years Later, Dodd-Frank Implementation Remains a Costly Work in Progress

Dodd- Frank was a 895 page act of legislation designed to right the wrongs that caused the implosion of financial markets that ended up in the rubble of the Great Recession.  Five years ago this month, the bill was signed into law and set forth on… Read More

Millennium Trust Sees Big Opportunity in New Finance as Company Growth is Boosted by Alternative Assets

Millennium Trust is a large IRA custodian you probably have never heard of unless you are in a similar business or a client of the firm. Headquartered in Chicago, Millennium Trust operates nationally but has set it sights on getting far bigger. The privately held… Read More

Commissioner Gallagher: Congress Gave the SEC an Impossible Task with Dodd Frank (Video)

SEC Commissioner Daniel Gallagher has consistently criticized the “Wall Street Reform and Consumer Protection Act” – otherwise affectionately know as Dodd-Frank.  It should come to no surprise to anyone who has operated inside the beltway that Dodd-Frank has accomplished little except to bog down the… Read More

Moving On: Commissioner Daniel Gallagher Expected to Depart SEC After Four Years

One of the most vocal advocates for small business and rational rule making is leaving the Securities and Exchange Commission.  Daniel Gallagher, an SEC Commissioner for the past four years, has reportedly told multiple people he is ready to move on after a vocal tenure… Read More

Congressional Committee on Small Business to Discuss Peer to Peer Lending

The Committee on Small Business, in the US House of Representatives, will discuss peer to peer lending on Wednesday, May 13th, at the Rayburn House Office Building.  The hearing is entitled Bridging the Small Business Capital Gap: Peer to Peer Lending. According to a notice from… Read More

On the Misplaced Priorities of Dodd-Frank & the SEC: A Call for a “New Deal” in Washington for America’s Small Business

It could have been the kickoff of a grand political campaign – a slogan that would be proud to adorn a bumper sticker for the most ambitious of politicians – and a sound byte that would be sure to grab the next day’s headlines in… Read More

Crowdfunding Industry Advocates Respond to IAC Recommendations on Accredited Investor Definition

Last week the Investor Advisory Committee met at the Securities and Exchange Commission to review and make recommendations on several issues regarding investors.  At the top of the list was the hot polemic on how an accredited investor should be defined. As it stands today… Read More

SEC Commissioner Gallagher Tackles Profound Need to Aid Small Business Capital Formation

Earlier today (September 17th), during a presentation delivered at the Heritage Foundation in Washington, DC, SEC Commissioner Daniel Gallagher gave a thoughtful, concise and concerned speech regarding the incredibly important needs of small business in the United States.  Recognizing that “small business is the lifeblood… Read More

The Misplaced Logic of Dodd-Frank: Protecting the Ordinary Investor by Redefining the Accredited Investor

Many of you are still reeling from the impact of the worldwide collapse of the financial markets in 2008. And most of us have rightfully observed that following one of the greatest debacles in financial history, no one has gone to jail – no one… Read More

SEC Commissioner Daniel Gallagher Talks JOBS Act; Advocates Needs of Small Business

At a recent meeting of the Securities Reform Project, organized by David Burton of the Heritage Foundation, attendees had the unique opportunity to hear from SEC Commissioner Daniel Gallagher. Gallagher was appointed as Commissioner in 2011 but he is a longtime veteran of the SEC… Read More

Investor Advisory Committee Schedules Meeting, Will Discuss Accredited Investor Defination

The Securities and Exchange Commission has created an Investor Advisory Committee (IAC), as mandated by Dodd-Frank, to advise the SEC on regulatory practices and priorities.  You would think the SEC would get tired of all of these outside advisors but that is the world of… Read More

Changes to “Accredited Investor” Definition Could Clip the Wings of Angel Investors

Few words or phrases have the ability to affect the U.S. economy like the term “accredited investor.” Whether you know it or not, these two little words control $800 billion of private investment in the United Stated today. The standards for qualifying as an accredited… Read More

Deputy General Counsel of NASAA is Named to Lead SEC’s Investor Advocate Office

Rick Fleming Currently at North American Securities Administration Association (NASAA) Slated to Become Investor Advocate this Month. The Securities and Exchange Commission (SEC) has appointed Rick A. Fleming to become the first head of the agency’s Office of the Investor Advocate.  As the Investor Advocate,… Read More

WATCH: Lending Club CEO Renaud Laplanche Testifies Before House Committee On Small Business

On Thursday, December 5th 2013, Lending Club Founder and CEO Renaud Laplanche provided the following testimony to the House Committee on Small Business, and specifically the Subcommittee on Economic Growth, Taxes and Capital Access. A survey released by the Federal Reserve Bank of New York… Read More

Lending Club Adds Two To Board Of Advisors, Expected To Go Public In 2014

Lending Club has appointed two indivials to their advisory board: Michael S. Barr, law professor at the University of Michigan and a senior fellow at the Center for American Progress and at the Brookings Institution, and senior Google executive Jeff Huber. Barr served from 2009-2010 as the U.S. Department… Read More

Invested.In Adds $100+ Million AUM with Acquisition of MyNewFinancialAdvisor

MyNewFinancialAdvisor, the nation’s largest on-line network introducing mass affluent Baby Boomers to financial advisors, announced the addition of a new product offering: crowdfunding portals. The company is providing complimentary crowdfund portals to privately held pre-IPO companies and attracting the wealth management accounts from the executives utilizing… Read More

Ohio Securities Commissioner Andrea Seidt Named NASAA President… Here’s What That May Mean For Crowdfunding

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

Send this to a friend