Tagged: sec

December 6, 2015 @ 11:48 am By JD Alois  |  

The SEC filed charges against two Bitcoin mining operations last week accusing the founder of launching a Ponzi scheme to defraud investors lured in by get rich quick claims. Homero Joshua Garza operated two Bitcoin companies, GAW Miners and ZenMiner.  The Connecticut-based scam paid early… Read More

December 2, 2015 @ 8:00 am By JD Alois  |  

During the buildup to the Securities and Exchange Commission’s announcement regarding the final rules on Title III retail crowdfunding, the Commission filed a fraud case in the US District Court of Nevada.  The SEC accused Ascenergy, a company ostensibly in the oil and gas industry,… Read More

December 1, 2015 @ 8:00 am By Erin Hobey  |  

“I do not recycle or repackage the ideas of others.  I try to focus instead on broader JOBS Act issues and events which have thus far gone unnoticed – or barely noticed – and which require further thought, analysis and hopefully, action, by louder and… Read More

November 24, 2015 @ 5:01 pm By JD Alois  |  

At the SEC Government-Business Forum on Small Business Capital Formation, Senior Financial Economist Vladimir Ivanov, gave an updated presentation regarding the state of Regulation D.  Ivanov delivered a very similar presentation at the end of 2014 with replicated slides.  He did update a couple of items… Read More

November 23, 2015 @ 9:56 am By JD Alois  |  

Cowen and Company, a publicly traded (NASDAQ:COWN) diversified financial services firm, is looking at the potential benefits of leveraging Regulation A+.  Title IV of the JOBS Act allowed the SEC to update old Reg A thus creating a securities exemption that has actually experienced some… Read More

November 21, 2015 @ 5:23 pm By JD Alois  |  

SEC Chair Mary Jo White opened the 34th annual Government- Business Forum on Small Business Formation. The prepared remarks were largely a re-cap of the JOBS Act. Completion of the rulemaking process occured with the release of Title III retail crowdfunding rules. White highlighted several… Read More

November 20, 2015 @ 9:25 am By JD Alois  |  

Kevin Laws, Chief Operating Officer of AngelList, delivered an “illuminating” presentation at the SEC Government Business Forum on Small Business Capital Formation yesterday. AngelList, a leader in the equity crowdfunding sector, has become an important catalyst in the online finance space innovating and expanding its… Read More

November 20, 2015 @ 8:47 am By Samantha Hurst  |  

Earlier this month, small business marketplace lender, StreetShares, announced the appointment of Troy A. Paredes to its Board of Advisors. From 2008 until 2013, Paredes served as a Commissioner of the U.S. Securities and Exchange Commission (SEC), having been appointed by President George W. Bush. At… Read More

November 18, 2015 @ 2:40 pm By JD Alois  |  

The final rules for Title III of the JOBS Act that legalize a new securities exemption allowing retail investors to participate in equity crowdfunded offers has hit the pages of the Federal Register. According to the SEC, 180 days after publishing issuers may utilize the… Read More

November 18, 2015 @ 2:25 pm By JD Alois  |  

Today is one of those days when SEC Commissioner Mary Jo White must march up to Capitol Hill and justify the SEC’s actions over proceeding months while requesting a budget increase to cover the cost of the Agency’s growing responsibilities. Chair of the Financial Services Committee,… Read More

November 18, 2015 @ 9:30 am By JD Alois  |  

The ongoing battle between the States and the Securities and Exchange Commission took another step forward this week as the Commission responded to the States claims.  States securities regulators in both Montana and Massachusets, supported by the North American Securities Administrators Association (NASAA), have persistently… Read More

November 17, 2015 @ 7:31 pm By JD Alois  |  

Later this week, on Thursday, the SEC Government-Business Forum on Small Business Capital Formation will take place at SEC headquarters.  An annual affair, the event has grown into a vibrant discussion regarding the challenges of SMEs to gain access to capital and the regulatory challenges… Read More

November 17, 2015 @ 4:15 pm By Samantha Hurst  |  

On Tuesday, EarlyIQ, Inc. announced the immediate availability of EarlyIQ CrowdSelect, the company’s fully hosted suite of services that enables compliance by investment intermediaries including crowdfunding platforms and broker/dealers. CrowdSelect will meet all background and investor requirements under the new Regulation Crowdfunding rules recently approved… Read More

November 17, 2015 @ 2:31 pm By JD Alois  |  

The SEC has filed fraud charges against alleged perpetrators of a $78 million pump & dump scheme involving shares of Marley Coffee.  The company, Jammin Java, was marketed using the trademarks of reggae performer Bob Marley. In a release by the SEC, officials stated that… Read More

November 16, 2015 @ 9:04 pm By JD Alois  |  

SEC Commissioner Luis Aguilar posted his statement of departure earlier today reaffirming his intent to leave the agency he has served as a Commissioner since 2008.  He departs as having the 8th longest tenure as Commissioner and one of only three appointed by two different… Read More

November 13, 2015 @ 3:54 pm By JD Alois  |  

Securities Commissioner Kara Stein visited Harvard Law School last week to present as part of a guest lecture series where she discussed securities regulation and capital markets. Stein posed the important question: “…how do we continue having the highest quality markets in the world, even… Read More

November 12, 2015 @ 8:13 pm By Erin Hobey  |  

  “I think Fintech, particularly as it applies to lending, has the capacity to completely transform how consumers and small business use credit. The best platforms are true innovators, underwriting consumers and small businesses in new ways using data that was simply unavailable ten or… Read More

November 11, 2015 @ 12:51 pm By Samantha Hurst  |  

The XTI Aircraft Company has filed with the SEC to complete a Regulation A+ offering following a successful Test the Waters (TTW) campaign that generated over $13 million in investor interest.  The company would like to raise $10 million using Tier II of the updated exemption. XTI… Read More

November 10, 2015 @ 8:00 am By JD Alois  |  

Steve Wallman spent a good portion of the 90’s at the Securities and Exchange Commission.  Appointed by President Bill Clinton in 1994, Wallman’s official bio at the SEC notes that his tenure was marked by the creation of the first Advisory Committee on Capital Formation… Read More

November 9, 2015 @ 10:48 am By Samantha Hurst  |  

NextGen Crowdfunding has announced that reward-based crowdfunding platform, Indiegogo, will be participating in its November 19th Equity Crowdfunding Conference in Santa Monica, California. Amanda Hat, Senior Director of Growth Innovation at Indiegogo, will join other industry leaders discussing current and future directions in crowdfunding.Aubrey Chernick, founder… Read More