Tagged: sec

July 10, 2013 @ 4:31 pm By JD Alois  |  

The SEC has released a set of three different Fact Sheets regarding their meeting today which addressed General Solicitation for certain offerings as well as Disqualification of Felons or “Bad Actors” from Rule 506 Private Placements along with rules which impact the number and types… Read More

July 10, 2013 @ 4:17 pm By JD Alois  |  

The SEC has issued a formal release regarding the approval of the removal of the ban on general solicitation, or advertisting, for private securities offerings.  Simulataneously the SEC commented on the rules regarding “Bad Actors”.  Rules become effective 60 days following publication in the Federal… Read More

July 10, 2013 @ 12:38 pm By JD Alois  |  

On July 10, 2013, the Securities and Exchange Commission approved rules regarding General Solicitation (IE advertising) for private placements under Regulation D. While old Reg D still exists under 506b, new 506c allows general solicitation directed towards accredited investors. The SEC published a Fact Sheet… Read More

July 10, 2013 @ 11:16 am By Charles Luzar  |  

The SEC commissioners have voted to issue the adopting release lifting the ban on general solicitation for private placements by a vote of 4-1. The SEC will move to create a new class of offering, called a 506(c) offering, which allows general solicitation (advertising) while… Read More

July 5, 2013 @ 11:43 am By Charles Luzar  |  

Crowdfund Insider is hearing from multiple sources that the SEC is nearing proposed rules for Title III of the JOBS Act. Title III mandates equity crowdfunding for non-accredited investors. A proposal of rules by the SEC would open the process to a period of public… Read More

July 3, 2013 @ 5:08 pm By JD Alois  |  

SEC Meeting on Wednesday, July 10th at 10AM  Will Address General Solicitation. The SEC has moved a step closer in finalizing the regulations regarding the implementation of the Jobs Act. Recently there was a meeting held with Mary Jo White which involved crowdfunding industry leaders… Read More

June 28, 2013 @ 10:50 am By Charles Luzar  |  

A. Brian Dengler of CfIRA posted a comprehensive breakdown of a paper released by two professors of economics and management at Kaunas University of Technology, Lithuania. Crowdfunding, as an innovative capital formation strategy and investment possibility, has both supporters and skeptics. In order to investigate and… Read More

June 14, 2013 @ 9:22 am By Charles Luzar  |  

Members of the House Financial Services Committee are exploring the option of passing additional legislation even as crowdfunding industry stakeholders continue to wait on the SEC to pass legislation Although small companies are at the forefront of technological innovation and job creation, they often face… Read More

June 5, 2013 @ 9:26 am By PolicyMic  |  

Welcome to America, a land where, as an adult, you can legally gamble your money away at a casino, buy all of the cigarettes you can smoke, or kill yourself by fastidiously consuming fast food. Welcome to America, where, unless you’re an accredited investor, meaning you… Read More

May 28, 2013 @ 4:05 pm By Businessweek  |  

These days, you’re unlikely to encounter a story about equity-based crowdfunding that doesn’t come with some form of the following disclaimer: More than a year after President Obama signed the JOBS Act into law, the Securities and Exchange Commission has yet to formalize rules that… Read More

May 27, 2013 @ 8:47 am By JD Alois  |  

Over Regulation Has Challenged Public Markets, Will Crowdfunding Resurrect These Markets or Will Over Regulation Reign Supreme? Recently venture capitalist, tech entrepreneur and  industry soothsayer,  Marc Andreesen was interviewed on CNBC in an piece entitled “We are Living Through a Tech Depression“.  His talking points… Read More

May 22, 2013 @ 10:14 pm By Techonomy  |  

When the JOBS Act was signed into law, its knotty crowdfunding provisions quickly became a source of consternation for the SEC. More than one year later, the law continues to languish, as the SEC moves slowly to implement its two most important provisions. One would enable general advertising for… Read More

May 22, 2013 @ 10:26 am By Charles Luzar  |  

Dealstruck is a debt-based crowdfunding platform based in La Jolla, California. It was launched by co-founders Ethan Senturia and Russel McLoughlin. In a recent interview with Xconomy, Senturia describes the process of launching the company. The throught process he alluded to should raise a red… Read More

May 20, 2013 @ 8:13 am By Charles Luzar  |  

A report released last month entitled Equity Crowdfunding and Venture Capital included some interesting revelations regarding what US venture capitalists and lawyers expect from equity crowdfunding. The report surveyed VCs and lawyers based in the states. Questions sought to gauge expectations about the JOBS Act’s trajectory and… Read More

May 17, 2013 @ 10:58 am By Charles Luzar  |  

Lona Nallengara has been named the SEC’s chief of staff today, leaving his previous post as the director of the agency’s Division of Corporate Finance. Nallengara took his lumps in a recent House Committee hearing over the SEC’s delay in implementation of the JOBS Act,… Read More

May 15, 2013 @ 7:58 am By Charles Luzar  |  

Title III of the JOBS Act stands to legalize the participation of non-accredited investors in crowdfunding offerings. One of the wildcards in the approach up to the implementation of Title III is the cap on how much an individual is allowed to invest per year,… Read More

May 14, 2013 @ 9:58 am By The Hill  |  

The JOBS Act has the potential to help entrepreneurs finance their small and emerging growth businesses through “crowdfunding,” but only if we get the costs right. In the year since the measure was signed into law, online technology platforms have continued to successfully disrupt the… Read More

May 14, 2013 @ 9:55 am By Charles Luzar  |  

Yesterday a group of GOP lawmakers including Representative Patrick McHenry sent a letter to newly minted SEC chairman Mary Jo White. The letter urges timely implementation of Section 201 of the JOBS Act, which calls for the removal of the ban on general solicitation for… Read More

May 9, 2013 @ 9:59 am By CrowdCheck  |  

Everyone in the startup world knows a good pivot story, right? The wedding planner site that became a peer-to-peer boat rental outfit, the “gay Groupon” that became a fabulously successful retailer. It’s not that unusual for a team to find that their original concept just isn’t going… Read More

May 9, 2013 @ 9:57 am By Crowd Valley Blog  |  

AngelList and FundersClub both recently requested and received “no action” relief from the SEC staff. “No action” letters are often complicated and the law surrounding the discussion is extremely opaque. We have sought to set out the implications of the relief granted by the staff… Read More