Tagged: sec

February 21, 2017 @ 6:12 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has partnered with NYU’s Salomon Center for the Study of Financial Institutions to host a symposium on the effects of investment crowdfunding on February 28th. The Commission’s Division of Economics and Risk Analysis (DERA) is leading the dialogue and… Read More

February 19, 2017 @ 12:24 pm By JD Alois  |  

As part of the SEC Advisory Committee on Small and Emerging Companies meeting last week, there were two presentations on the decline of IPOs in the US. The first was provided by the law firm Goodwin was shared earlier on Crowdfund Insider. Also in attendance… Read More

February 18, 2017 @ 11:32 am By JD Alois  |  

SEC Acting Chair Michael Piwowar was present to open the meeting of the Advisory Committee on Small and Emerging Companies (ACSEC) last week. Piwowar, a Republican appointee, took the opportunity to highlight several policy issues. While pointing to the importance of small business as the… Read More

February 16, 2017 @ 2:54 pm By JD Alois  |  

The Securities and Exchange Commission has scheduled their first Investor Advisory Committee (IAC) meeting for 2017. The meeting will be held at the SEC offices in Washington, DC on Thursday, March 9 from 9:00 AM to 11:55 AM. These meetings are open to the public and… Read More

February 9, 2017 @ 7:00 pm By JD Alois  |  

FINRA, or the “Financial Industry Regulatory Authority”, is one of the most powerful financial regulators in the United States. It is also a private corporation that performs its duties as a “self-regulatory organization” (SRO). FINRA oversees the thousands of broker-dealers and other financial industry participants… Read More

February 7, 2017 @ 12:07 pm By Timothy Li  |  

The Office of Comptroller of the Currency (OCC) is an independent bureau within the United States Department of the Treasury that was created by the National Currency Act of 1863 (154 years ago, 20 years before the automobile was invented by Karl Benz from Germany)…. Read More

February 3, 2017 @ 11:39 am By JD Alois  |  

The Division of Economic and Risk Analysis (DERA), the research arm of the Securities and Exchange Commission (SEC), has partnered with New York University’s Salomon Center on a half-day conference reviewing investment crowdfunding. The event, which is open to the public, will be held at… Read More

February 3, 2017 @ 11:25 am By JD Alois  |  

The Division of Economic and Risk Analysis (DERA) of the U.S. Securities and Exchange Commission and New York University’s Salomon Center are organizing a half-day dialogue on U.S. securities-based crowdfunding (such as equity or debt). Regulation Crowdfunding, a key JOBS Act rulemaking that came into… Read More

January 20, 2017 @ 11:01 am By Samantha Hurst  |  

FinTech Acquisition Corp. II, a blank-check company that acquires or merges with one or more businesses or entities in the fintech industry, announced the pricing of its initial public offering of 15.3 million units at a price of $10 per unit, for gross proceeds to the… Read More

January 13, 2017 @ 12:19 pm By JD Alois  |  

Med-X, a marijuana-based startup, is engaged in a public hearing this month before Administrative Law Judge Jason S. Patil. The hearings pertain to an attempt to raise capital that was described as the first ever Reg A+ investment crowdfunding round for the Cannabis industry. The proceedings are… Read More

January 4, 2017 @ 4:43 pm By JD Alois  |  

Financial regulations are often enacted with little concrete definition, to say nothing of quantification, of their costs and benefits. Regulators and economists have little understanding of causal mechanisms that may provide benefits and incur costs. Worse, they often think they know cause and effect, either… Read More

January 4, 2017 @ 10:36 am By JD Alois  |  

Multiple news sources are reporting that Jay Clayton will be President-elect Donald Trump’s selection for the Chair of the Securities and Exchange Commission (SEC). Reuters published a statement by President-elect Trump; “Jay Clayton is a highly talented expert on many aspects of financial and regulatory law, and… Read More

January 2, 2017 @ 11:31 am By JD Alois  |  

The Securities and Exchange Commission publishes an annual report on “nationally recognized statistical rating organizations (NSROs).”  These are the agencies that publish credit ratings on certain securities and institutions.  The mandated report has recognized the emergence of online lending for the very first time. The document… Read More

December 30, 2016 @ 11:59 am By JD Alois  |  

Regulation A+, created by Title IV of the JOBS Act, has been lauded by many as a missing step in the capital ladder for smaller firms in need of funding. The updated securities exemption became effective on June 19, 2015, and since that time a… Read More

December 29, 2016 @ 7:30 am By Samuel Guzik  |  

The beginning of a new year is typically accompanied by renewed hope and positive expectations. 2017 is no exception.  As a staunch advocate of promoting the interests of small business generally, and smart regulation of capital formation, in particular, 2017 stands out to me as… Read More

December 28, 2016 @ 7:23 am By Scott Andersen  |  

FINRA recently completed a settlement expelling from FINRA membership UFP, LLC, a registered funding portal that operated under uFundingPortal.com.   The matter marks both early and decisive action by FINRA against a registered funding portal operating under Regulation Crowdfunding.  It establishes that FINRA takes seriously… Read More

December 27, 2016 @ 5:01 am By Emma Peck  |  

2016 brought with it many positive developments for startups in terms of capital access and tax policy. Investment crowdfunding finally went live, a number of bills to facilitate capital formation passed the House, and the startup community galvanized around a tax bill that would make… Read More

December 19, 2016 @ 7:00 am By David Burton  |  

Capital formation and entrepreneurship improve economic growth, productivity and real wages. Existing securities laws impede entrepreneurial capital formation. To promote prosperity, Congress and a reconstituted Securities and Exchange Commission need to systematically reduce or eliminate state and federal regulatory barriers hindering entrepreneurs’ access to capital…. Read More

December 13, 2016 @ 10:37 am By JD Alois  |  

uFundingPortal (UFP, LLC), disappeared from the ranks of approved Reg CF crowdfunding platforms in early November. Before their removal, a multitude of crowdfunding industry insiders questioned the operation and the investment offers posted on the site. The posted investments lacked transparency while proposing valuations and… Read More

December 12, 2016 @ 10:40 pm By JD Alois  |  

Equidate has settled with the SEC for selling unregistered swaps involving pre-IPO companies. The San Francisco-based Fintech firm agreed to settle the charges it had violated federal securities laws by failing to register security-based swaps that were sold online to shareholders in pre-IPO companies. Equidate stopped offering security-based… Read More