Tagged: sec

Guzik Welcome’s Congressman McHenry’s Letter to SEC But Believes More Needs to Be Done

Sam Guzik, a securities attorney and Crowdfund Insider Senior Contributor, has shared his perspective on Congressman Patrick McHenry’s letter to SEC Chair Jay Clayton. Guzik welcomes, McHenry’s requests but believes more needs to be done; “I applaud the unrelenting and tireless efforts of Congressman McHenry… Read More

Congressman Patrick McHenry Asks SEC Chair Jay Clayton to Act & Fix Crowdfunding Rules

Once again, crowdfunding’s white knight rides into action. Congressman Patrick McHenry sent a letter to the newly sworn in Chairman of the U.S. Securities and Exchange Commission Jay Clayton outlining certain provisions of the regulations relating to Title III of the JOBS Act that need… Read More

Scammer Allegedly Files Fake SEC Document in Plot to Make Money Off of Fitbit Options

The Securities and Exchange Commission has filed fraud charges agains Robert W. Murray, a mechanical engineer from Virginia. Murray allegedly cooked up a bogus regulator filing in an attempt to manipulate the share price of Fitbit. In a parallel action, the U.S. Attorney’s Office for the… Read More

Here is the Recommendation Letter on Reg A+ Secondary Market Liquidity Shared by ACSEC [u]

The SEC’s Advisory Committee on Small and Emerging Companies (ACSEC) addressed questions about secondary market liquidity in Reg A+ securities last week at their meeting in DC.  The Committee members reviewed challenges and demands for facilitating secondary transactions. Providing liquidity is an important aspect of… Read More

Wefunder Publishes Open Letter to SEC: Six Recommendations to Improve Regulation Crowdfunding

Wefunder has sent a letter addressed to the Securities and Exchange Commission (SEC). On the anniversary of the launch of Title III of the JOBS Act, or Regulation Crowdfunding (Reg CF), Nicholas Tommarello, co-founder and CEO of Wefunder, has taken a moment to reflect on… Read More

SEC Chair Jay Clayton Tells ACSEC Members Capital Formation will be Priority During His Tenure

In his first appearance as the Chair of Securities and Exchange Commission, Jay Clayton delivered a brief statement to the members of the Advisory Committee on Small and Emerging Companies (ACSEC).  At the meeting, which took place today (May 10, 2017), Clayton told all in… Read More

SEC Posts Investor Bulletin Cautioning on Use of SAFEs in Crowdfunding

The Securities and Exchange Commission (SEC) posted an Investor Bulletin yesterday (May 9) addressing the utilization of “Simple Agreement for Future Equity” commonly referred to as SAFEs. These securities are frequently utilized in equity crowdfunding offers, specifically under the Reg CF exemption. The Bulletin, from… Read More

How To Blow Your Reg D Offering: General Solicitation

Welcome to Part 1 of a series discussing the various ways an issuer can easily screw up their offering. In this part, we’ll be talking about general solicitation as it applies to Regulation D (Reg D) offerings. For those that are unaware, Reg D is, for… Read More

SEC Proposes Changes to Investment Adviser Act for Small Business Investment Company Advisers

On May 3, 2017, the SEC released its proposed amendments to the Investment Advisers Act (the Advisers Act) to reflect changes made under the Fixing America’s Surface Transportation Act (the FAST Act). The FAST Act, which was passed in 2015, amended sections 203(l) and 203(m) of… Read More

Failure to File Ongoing Reports Could Lead to ‘Permanent Put’ on Reg CF Issuers

Speaking on a panel at the 4th Annual CrowdfundingUSA Conference today, Sarah Hanks, CEO and Founder of CrowdCheck Inc., talked about some of the compliance issues facing Regulation CF issuers. Issuers Are Not Filing Annual Reports One of the biggest issues discussed was the ongoing reporting… Read More

SEC & NYU Partner on Event Tackling Moribund IPO Market

The Securities and Exchange Commission is partnering with New York University on an event tackling the topic of the declining initial public offering market (IPO). Organized under the auspices of the SEC’s Division of Economic Risk Analysis (DERA), the half day dialogue is being held… Read More

Securities and Exchange Commission to Host First Twitter Chat on Investing (Wisely)

The Securities and Exchange Commission (SEC) will hold its first “Twitter Chat” on investing wisely. According to the SEC, the outreach is part of  Money Smart Week and Financial Literacy Month. The Offices of Public Affairs and Investor Education and Advocacy will host the Twitter… Read More

SEC Rolls Out Amendments to Intrastate Offering Rule

On April 20, 2017, amendments to Rule 147 and new Rule 147A, federal intrastate offering exemptions, finally went into effect. The amendments to Rule 147 and new Rule 147A are intended to modernize and update the exemption that allows companies to raise money from investors who… Read More

Have the Wheels Fallen Off of Reg CF Crowdfunding?

Crowdfunding, as allowed under Reg CF (created by Title III of the JOBS Act) was designed to improve access to capital for smaller firms in need of funding while providing new investment opportunities for smaller investors. For too many years the little guy has been… Read More