Tagged: jay clayton

June 4, 2020 @ 6:12 pm By JD Alois  |  

  Yesterday, the U.S. Department of Labor (DLO) issued an Information Letter under the Employee Retirement Income Security Act (ERISA) pertaining to private equity investments as a component of a professionally managed funds offered as an investment option for participants in defined contribution plans. Effectively,… Read More

May 20, 2020 @ 4:17 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has announced that its annual Government-Business Forum on Small Business Capital Formation will be virtual this year. During SEC Chairman Jay Clayton’s tenure, the Forum has moved outside the beltway. Before Clayton, the Forum was held at SEC HQ… Read More

May 15, 2020 @ 12:47 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has added six new members to its Investor Advisory Committee. The Committee is required under law and it seeks to advise the Commission on regulatory priorities regarding securities, trading and investment, disclosure, and investor protection issues. The new members… Read More

May 4, 2020 @ 2:43 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has announced that temporary rule changes regarding Reg CF (Regulation Crowdfunding) in light of the COVID-19 pandemic. According to a release, the SEC is following suggestions made by members of the SEC’s Small Business Capital Formation Advisory Committee. The… Read More

April 2, 2020 @ 1:57 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) Small Business Capital Formation Advisory Committee met today in a teleconference to discuss the impact of COVID-19 and small business. In brief, several Committee members expressed the opinion that it is going to be really bad. Martha Legg Miller,… Read More

March 17, 2020 @ 4:07 pm By JD Alois  |  

The North American Securities Administrators Association (NASAA), the entity that lobbies on behalf of state and provincial regulators, is “urging the Securities and Exchange Commission (SEC) not to move forward with its proposal to expand access to high-risk private securities offerings to individual investors.” NASAA… Read More

March 5, 2020 @ 3:27 pm By JD Alois  |  

Yesterday, the Securities and Exchange Commission (SEC) proposed significant changes to the exempt offering framework that should benefit issuers, investors and regulated platforms that facilitate these types of offerings. So far, industry response has been overwhelmingly positive. The proposed amendments will impact Reg CF, Reg… Read More

March 4, 2020 @ 4:56 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) proposed meaningful changes to multiple securities exemptions today. The pending rule change came following a closed meeting of the Commission without a public agenda. The proposals may dramatically impact platforms that facilitate online securities offerings and benefit smaller companies… Read More

February 20, 2020 @ 11:00 am By JD Alois  |  

In October 2019, OurCrowd, one of the leading securities crowdfunding platforms in the world, announced a new partnership with Stifel Financial Corp. (NYSE: SF). Simultaneously, it was announced that Stifel was taking a minority stake in the global investment platform. In its brief history, OurCrowd… Read More

January 6, 2020 @ 6:11 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) is on the cusp of a significant update to the definition of an accredited investor (AI). Depending on the final rules, the Commission could broadly expand access to private securities offerings – a sector of the capital markets that… Read More

December 20, 2019 @ 10:59 am By JD Alois  |  

Earlier today, the UK government announced its selection Andrew Bailey to replace Mark Carney as Governor of the Bank of England. Carney’s departure has long been anticipated and, in fact, he extended his tenure at the Bank to help provide an element of stability in… Read More

December 18, 2019 @ 2:23 pm By JD Alois  |  

Today, the Securities and Exchange Commission (SEC) held a public meeting to discuss, and vote on, various rules impacting the securities markets. Included in the meeting was an update to the definition of an accredited investor. Currently, the definition is determined by a wealth metric…. Read More

December 10, 2019 @ 11:57 am By JD Alois  |  

Securities and Exchange Commission (SEC) Chairman Jay Clayton spent his morning today (December 10, 2019) testifying in front of the Senate Committee on Banking, Housing, and Urban Affairs. In prepared testimony (embedded below), Chair Clayton addressed multiple issues including those that impacting regulatory modernization as… Read More

December 2, 2019 @ 9:13 am By JD Alois  |  

The Securities and Exchange Commission (SEC) announced a significant review of the securities exemption ecosystem in June of this year. During the past few decades, the Commission, with some help from Congress, has updated and added to the many rules that regulate private securities offerings…. Read More

November 7, 2019 @ 10:23 am By JD Alois  |  

Securities and Exchange Commission (SEC) Chairman Jay Clayton has re-affirmed his belief that retail investors should have a compliant path to access more private securities offerings. While initial public offerings (IPOs) have morphed into an exit opportunity for big money where retail investors end up… Read More

September 19, 2019 @ 3:32 pm By JD Alois  |  

Today, Securities and Exchange Commission (SEC) Chairman Jay Clayton was interviewed by Andrew Ross Sorkin during the annual Delivering Alpha event produced by CNBC. During the interview, Chair Clayton took the opportunity to address the shifting landscape of the private markets in comparison to public… Read More

September 13, 2019 @ 4:24 pm By JD Alois  |  

Securities and Exchange Commission Chairman Jay Clayton tipped his hand a bit regarding the ongoing “concept release” – an SEC review of the private securities exemption ecosystem and how regulated private markets operate.  In a speech delivered at the Economic Club of New York this… Read More

September 10, 2019 @ 11:03 pm By Cali Haan  |  

The US Securities and Exchange Commission (SEC) Chair Jay Clayton has told a reporter at CNBC that manipulation in crypto markets remains a concern and that there is “still work to be done” before the Commission can approve Bitcoin exchange-traded fund (ETFs). Clayton told Bob… Read More

August 20, 2019 @ 12:01 pm By JD Alois  |  

In the US, the definition of an “Accredited Investor” is an individual who earns over $200,000 a year or has $1 million in net assets minus their primary residence. If you are married, that number moves higher. Yet, as it stands today, this definition does… Read More

August 5, 2019 @ 6:37 pm By JD Alois  |  

Securities and Exchange Commission Chairman Jay Clayton has booked an event for “Main Street investors” to be held in Chicago on Thursday, August 15. The event will come a day after the SEC’s annual Government-Business Forum on Small Business Capital Formation taking place in Omaha…. Read More