Tagged: hester peirce

SEC Small Business Capital Formation Advisory Committee Tells Commission to Make it Easier to Trade Reg A+ Securities

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

SEC Small Business Capital Formation Advisory Committee Tells Commission to Make SPACs Work

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

As Originally Drafted, Reg A+ and Reg CF Got it Wrong: SEC Commissioner Peirce

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

SEC Small Business Capital Formation Advisory Committee Tells Commission Climate Disclosure May Deter Firms from Going Public

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

SEC Publishes Report on Small Business Forum

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

Darren Sandler, Republic Crypto Lead Counsel: The Responsible Financial Innovation Act is a Big Step in the Right Direction

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

SEC Commissioner Hester Peirce Comments on Crypto Legislation, Chastises Commission for Doing Little to Adopt Regulation

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

SEC Commissioner Peirce and CFTC Commissioner Pham Join in Calling for Progress on Decentralized Regulation

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

Goldman Sachs Dials Back on SPACs

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

All in on Crypto Enforcement: SEC Beefs Up Crypto Asset and Cyber Unit to Target Digital Asset Transgressions

Announced last week, the Securities and Exchange Commission (SEC) revealed its intent to step up its crypto enforcement actions with a newly renamed Crypto Assets and Cyber Unit doubling its headcount. The SEC outlined its reinvigorated mission as targeting digital asset offerings, crypto exchanges, lending… Read More

Commissioner Hester Peirce Questions Why SEC is Leading with Crypto Enforcement

Last week it was reported that the Securities and Exchange Commission (SEC) was doubling the size of its crypto enforcement team. The SEC also revealed that it had rebranded its Cyber Unit to the Crypto Assets and Cyber Unit to reflect its additional focus on… Read More

SPAC Market Cools in 2022, Meanwhile the SEC Has Proposed New Rules that May Undermine SPACs Further

Last year was a big one for the SPAC [special purpose acquisition company] market. Reportedly, 613 SPAC offerings were floated on an exchange easily topping 420 traditional initial public offerings. Since the beginning of 2022, SPAC offerings have slowed to around 62 so far. SPACs… Read More

Securities and Finance Experts Worry that SEC’s ESG Requirements will Drive Shareholder Returns Lower, Push Prices Higher and Have a Negative Impact on Labor

The Securities and Exchange Commission is currently pursuing new rules under the auspices of ESG: Environmental, Social, and Governance. In March of 2022, SEC Chairman Gary Gensler explained they were aiming to require disclosure for firms on issues such as climate impact. He explained: “The… Read More

SEC Small Business Capital Formation Advisory Committee will Discuss SPACs, Climate Disclosure under ESG Push

The Securities and Exchange Commission’s Small Business Capital Formation Advisory Committee (SBCFAC) has scheduled a meeting to discuss two specific topics: SPACs or Special Purpose Acquisition Companies and Climate Disclosure. The meeting will take place on Friday, May 6, 2022. According to a statement by… Read More

SEC Commissioner Looks to Hire Securities Attorney to Help with Crypto

SEC Commissioner Hester Peirce is looking for an attorney to assist and advise on issues including crypto along with affiliated enforcement actions. Commissioner Peirce promoted the new position in a Tweet. As is well known, the Commissioner has been very supportive of Fintech innovation, along… Read More

The SEC’s Scattershot and Inefficient Approach to Crypto: Commissioner Hester Peirce Comments on New Staff Bulletin on Crypto

The Securities and Exchange Commission (SEC) has posted a Staff Accounting Bulletin (SAB) expressing the view of the staff regarding the “accounting for obligations to safeguard crypto-assets an entity holds for platform users.” The SAB adds “interpretive guidance” regarding “obligations to safeguard crypto-assets held for… Read More

SEC Commissioner Hester Peirce Dissents on SPAC Proposal as Designed to “Stop SPACs in their Tracks”

  SEC Commissioner Hester Peirce has posted a dissenting opinion regarding the rule proposal addressing SPACs. As was previously reported, the Securities and Exchange Commission has issued a 372-page proposal for new rules pertaining to Special Purpose Acquisition companies [SPACs]. SEC Chairman Gary Gensler described… Read More

An SEC Committee Wants to Make it Easier to Qualify as an Accredited Investor, Will the Commission Listen?

Last month, the SEC Small Business Capital Formation Advisory Committee held a virtual meeting to discuss the definition of an Accredited Investor. For anyone viewing the meeting, it was clear that Committee members would like to make it easier for individuals to qualify as Accredited,… Read More

Commissioner Hester Peirce: “Not the Securities and Environment Commission Yet,” as SEC Pushes for Rules Targeting Climate Related Disclosure

Today the Securities and Exchange Commission (SEC) proposed new rules to compel publicly traded firms to disclose climate-related information. The policy shift has long been anticipated and messaged by the Commission under the leadership of Chairman Gary Gensler. According to the SEC, new rules would… Read More

Commissioner Hester Peirce Dissents from SEC’s Punishment of BlockFi: Not the Best Way to Protect Crypto Lenders

Commissioner Hester Peirce has once again come to the defense of a Fintech innovator pertaining to the settlement announced today in regards to BlockFi –  a large crypto platform. As was reported earlier, BlockFi must pay $100 million in penalties to both the SEC and… Read More

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