Tagged: sec

May 8, 2013 @ 9:54 am By Wired  |  

… It would be one thing if the SEC were painstakingly crafting rules to prevent fraud and investment bubbles, they add, but instead turnover at the top has kept commissioners sitting on rules that were drafted five months ago and due for release at the… Read More

May 8, 2013 @ 9:52 am By The Business Journal  |  

In some ways, America’s pending shift to allow equity crowdfunding starts with beer. Two advertising executives in 2009 created a website to raise money from individuals to buy Pabst Brewing Co., which makes the hipster favorite Pabst Blue Ribbon. They raised more than $200 million,… Read More

May 7, 2013 @ 6:00 am By JD Alois  |  

In two recent no-action letters the SEC granted exemptive relief from broker dealer registration to crowdfunding sites accepting only pre-screened accredited investors on the basis that the platforms received carried interest rather than transaction based compensation. According to securities attorney Simon Riveles of Riveles Law Group,… Read More

May 4, 2013 @ 12:00 pm By JD Alois  |  

The SEC yesterday announced the release of the final report from their Forum on Small Business Capital Formation for 2012.  The Forum included discussions regarding the implementation of the Jobs Act and elements of crowdfunding.  The announcement was distributed by Chief of the Office of… Read More

May 4, 2013 @ 6:20 am By The Boston Globe  |  

For $100, Micah Lubens bought a share of a vacant, two-story brick building that was promoted as the next up-and-coming hot spot along Washington D.C.’s bustling H Street corridor. Through food blogs, Lubens learned of plans to transform the building into a minireplica of Asian… Read More

May 2, 2013 @ 8:32 am By MainStreet  |  

Judging the JOBS Act before it has a chance to get off the ground.

May 1, 2013 @ 5:24 pm By JD Alois  |  

The SEC held another scheduled meeting, which was open to the public, regarding small and emerging companies including the Jobs Act and elements of crowdfunding. The presenters included Robert Greifeld, Chief Executive Officer of NASDAQ OMX Group, William R. Hambrecht, Chairman and Chief Executive Officer of… Read More

April 29, 2013 @ 9:39 am By Charles Luzar  |  

Bloomberg is reporting that newly minted SEC Chairman Mary Jo White is pushing to lift the ban on general solicitation. From the article… White, who became SEC chairman on April 10, has suggested the commission pass the existing plan without major changes and add additional protections later,… Read More

April 26, 2013 @ 8:54 pm By BusinessWeeek  |  

The SEC announced a lawsuit on Thursday against a business in Spokane Valley, Wash., accused of defrauding 21 investors of about $400,000. The agency’s news release leads with charges that the company fooled investors “with claims to raise billions of investment capital under the Jumpstart… Read More

April 26, 2013 @ 7:28 am By ThinkProgress  |  

After the success of Rob Thomas’ efforts to crowdfund a Veronica Mars movie through Kickstarter, it was inevitable that some other auteur with a significant fanbase would follow his lead. That person is now Zach Braff, who as of this writing has raised about $954,000… Read More

April 25, 2013 @ 6:27 pm By JD Alois  |  

BancBox, a leading payment services provider, announces today the public launch of BancBox Crowd, the first independent escrow service for equity, debt and revenue share crowdfunding portals. Additionally, the company is announcing partnerships with leading crowdfund investing services 99Funding, SoMoLend, and Localstake. “The services provided by… Read More

April 25, 2013 @ 3:44 pm By Charles Luzar  |  

Alleged promises of huge returns plus access to boats, private jets and more…

April 24, 2013 @ 5:55 pm By Washington Post  |  

Small businesses looking for a windfall of investor money from crowdfunding may find that it’s more of a bust. President Barack Obama and members of Congress have touted a law that makes crowdfunding, a method of soliciting money over the Internet, as a way for… Read More

April 24, 2013 @ 5:30 pm By CFO.com  |  

The one-year anniversary of the Jumpstart Our Business Startups (JOBS) Act just passed, but the Securities and Exchange Commission has yet to write rules governing equity-based crowdfunding. In the meantime, some venture capital (VC) firms worry that crowdfunding, a means of collective financing by selling equity in a company,… Read More

April 24, 2013 @ 5:18 pm By CrowdCheck  |  

The New Year has come and gone and we are done with the first quarter of 2013, and yet we are still without SEC rules to implement crowdfunding as authorized by the JOBS Act.  While some commenters on the SEC JOBS Act comment section have… Read More

April 20, 2013 @ 3:00 pm By Mondaq  |  

On March 26, 2013, the SEC’s Division of Trading and Markets issued a no-action letter indicating that it would not recommend enforcement action under Section 15(a)(1) of the Exchange Act if a venture capital fund adviser and its management company (collectively, the “fund”) operated a… Read More

April 18, 2013 @ 7:54 am By Charles Luzar  |  

I look forward to talking tomorrow. I have 2 worries – one is that if these guys (CFA, et al) feel this strongly, it seems like we should give them a comment period. Its not really asking for much… The other is that I don’t want… Read More

April 17, 2013 @ 5:19 pm By Forbes  |  

The SEC has not yet released crowdfunding rules for public comment, but many folks aren’t waiting for that. At last count there were nearly 200 public comment letters and staff meetings about the subject on record with the Securities and Exchange Commission. That’s the highest… Read More

April 17, 2013 @ 9:35 am By Charles Luzar  |  

In a few hours, Elisse Walter will sit in front of members of the House of Representatives Oversight Committee to answer questions on why key elements of the JOBS Act are still in limbo more than a year after the Act was signed into law…. Read More

April 16, 2013 @ 7:33 am By Charles Luzar  |  

Yesterday the Crowdfund Intermediary Regulatory Advocates (CfIRA), an industry group representing crowdfunding intermediaries, submitted a letter to the House Subcommittee on Oversight and Investigations urging those frustrated with inaction to apply pressure to those who have the power to enact change. This letter precedes tomorrow’s… Read More