Tagged: hester peirce

December 4, 2023 @ 1:26 pm By JD Alois  |  

The SEC Small Business Capital Formation Advisory Committee (SBCFAC) returned to meet this past week with the definition of an Accredited Investor at the top of the list for discussion. The SBCFAC provides guidance to the Commission on issues that impact smaller firms, which frequently… Read More

September 25, 2023 @ 5:44 pm By JD Alois  |  

Speaking at the beginning of last week’s meeting of the Investor Advisory Committee (IAC), SEC Commissioner Hester Peirce went to bat for smaller firms and private securities issuers – once again. The SEC is currently considering making the definition of an Accredited Investor more rigorous…. Read More

September 13, 2023 @ 7:23 pm By JD Alois  |  

Earlier today, the Securities and Exchange Commission (SEC) announced an enforcement action against Stoner Cats and the creation of non-fungible tokens (NFTs) that were sold to the public. In total, Stoner Cats sold over $8 million in these NFTs which then were available for resale… Read More

August 29, 2023 @ 4:25 pm By JD Alois  |  

SEC Commissioners Hester Peirce and Mark Uyeda have joined to issue a statement on the enforcement action taken by the Commission against NFT issuer Impact Theory. Yesterday, the SEC revealed its first enforcement action against an NFT issuer, with the firm settling the allegations without… Read More

June 7, 2023 @ 4:41 pm By JD Alois  |  

  SEC Commissioners Hester Peirce and Mark Uyeda have issued a public dissent of the Commission’s decision to deny CryptoFed DAO’s request to withdraw its registration statement and the motion to dismiss the case by the Division of Enforcement. In brief, in November 2021, the… Read More

April 24, 2023 @ 4:33 pm By JD Alois  |  

SEC Commissioner Hester Peirce has posted here comments delivered at the beginning of the SEC’s 42nd Annual Small Business Forum taking place this week. A few years back, the Forum was an in-person event, but COVID and convenience have shifted the event to a virtual… Read More

March 10, 2023 @ 4:57 pm By JD Alois  |  

Today, the Securities and Exchange Commission (SEC) denied once again a request to list and trade shares of the VanEck Bitcoin Trust on the Cboe BZX Exchange. The Commission said that BZX had not demonstrated sufficiently it would protect investors and guard against fraud and… Read More

February 23, 2023 @ 4:53 pm By JD Alois  |  

The Chairman of the House Financial Services Committee, Patrick McHenry, and the Chairman of the Subcommittee on Oversight and Investigations, Bill Huizenga, along with Senator Tim Scott, the ranking member on the Senate Banking Committee, have joined in sending a letter to SEC Chairman Gary… Read More

February 10, 2023 @ 9:47 am By JD Alois  |  

SEC Commissioner Hester Peirce has shared her thoughts on the enforcement action taken against Kraken. The crypto exchange agreed to pay a $30 million penalty pertaining to its staking service. The ability for US clients to earn a return on parked Proof of Stake digital… Read More

January 23, 2023 @ 12:00 pm By JD Alois  |  

Representative Bill Huizenga,  a member of the House Financial Services Committee and new Chair of the Subcommittee on Oversight and Investigations, has put Securities and Exchange Commission (SEC) Chair Gary Gensler on notice. In a Tweet, Huizenga said that oversight of the SEC is at… Read More

October 13, 2022 @ 4:18 pm By JD Alois  |  

Today the SEC’s Small Business Capital Formation Advisory Committee (SBCFAC) held a meeting to address two important topics. The sagging initial public offering (IPO) market and access to capital for vital entrepreneurial markets. Both, are key policy ambitions – more so during a time of… Read More

September 22, 2022 @ 6:27 pm By JD Alois  |  

Several weeks back, the SEC Small Business Capital Formation Advisory Committee (SBCFAC) met and discussed secondary transactions for securities issued under Regulation A (Reg A+) as well as Reg CF. Private securities must adhere to various rules for investors to sell a holding creating hurdles… Read More

August 19, 2022 @ 4:57 pm By JD Alois  |  

The Securities and Exchange Commission (SEC), Small Business Capital Formation Advisory Committee (SBCFAC), is telling the Commission to help SPACs [Special Purposed Acquisition Companies] work – not shut them down by over-regulating. Posted last month, in a letter to Chairman Gary Gensler, the SBCFAC stated:… Read More

August 5, 2022 @ 12:18 pm By JD Alois  |  

Last week during the meeting of the SEC Small Business Capital Formation Advisory Committee (SBCFAC), members voted to support improvements to secondary trading of crowdfunded securities – more specifically, to exempt state laws when it comes to the trading of securities under Tier 2 of… Read More

August 1, 2022 @ 12:35 pm By JD Alois  |  

Earlier this year, the Securities and Exchange Commission (SEC), Small Business Capital Formation Advisory Committee (SBCFAC), held a meeting to discuss proposed rules on climate risk disclosure. The meeting addressed potential rule changes initiated by the SEC and championed by SEC Chairman Gary Gensler. When… Read More

July 31, 2022 @ 4:31 pm By JD Alois  |  

This past week, the Securities and Exchange Commission (SEC) published its 41st annual Small Business Forum report, an effort to help guide the Commission on important issues facing small businesses and access to capital in the USA. While the SEC focuses most of its attention… Read More

June 16, 2022 @ 10:59 am By JD Alois  |  

Earlier this month, US Senators Kirsten Gillibrand and Cynthia Lummis revealed their long-anticipated legislation aiming to provide a clearcut regulatory regime for the digital asset industry. The language of the bill represents a comprehensive approach for crypto including digital securities, stablecoins, and more while selecting… Read More

June 16, 2022 @ 10:08 am By JD Alois  |  

SEC Commissioner Hester Peirce posted a speech this week that addresses crypto markets and regulation. Commissioner Peirce has long taken a thoughtful approach in regards to digital asset innovation while generally being supportive Fintech. Peirce mentioned the bipartisan legislation published this month that aims to… Read More

May 27, 2022 @ 4:33 pm By JD Alois  |  

SEC Commissioner Hester Peirce and CFTC Commissioner Caroline Pham have partnered on an Op-Ed published this week in the Hill calling for progress on the regulation of decentralization. Alluding to possible friction between the two agencies as regulators jostle as to which sector of crypto… Read More

May 9, 2022 @ 5:26 pm By JD Alois  |  

SPACs, once red hot topping the traditional IPO market, have dimmed in recent months as the Securities and Exchange Commission has proposed new rules that may make the financing vehicle less viable. Today, the most prominent investment bank in the US, Goldman Sachs (NYSE:GS), has… Read More