Tagged: sec

August 22, 2014 @ 11:10 am By Samantha Hurst  |  

On Wednesday (August 20th), more than 40 participants from the crowdfunding industry gathered on a call to discuss key topics about the industry’s future. Those on the call were urged to join the #VoteOnCF movement, a campaign that urges the SEC to vote on the… Read More

August 21, 2014 @ 9:10 am By Barbara Roper  |  

When Congress passed the JOBS Act lifting the ban on general solicitation in offerings under Rule 506 of Regulation D, it turned these so-called “private” offerings into potentially very public ones.  Since Reg D offerings involving general solicitation can only be sold to “accredited” investors,… Read More

August 20, 2014 @ 10:23 am By JD Alois  |  

Crowdfund Capital Advisors principles Jason Best and Sherwood Neiss have joined the growing group of crowdfunding industry participants demanding the Securities and Exchange Commission release final rules on Title III crowdfunding immediately.  In a comment letter addressed to SEC Chair Mary Jo White, Best and… Read More

August 17, 2014 @ 3:26 pm By JD Alois  |  

Following the example of the 28 members of Congress who forwarded a letter to the SEC urging them to publish the proposed rules on Title  III of the JOBS Act, some in the crowdfunding industry are taking action and looking to the crowd to join… Read More

August 15, 2014 @ 5:34 pm By JD Alois  |  

As the days turn into months, and the months turn into years, the JOBS Act, signed into law in 2012, remains an under-utilized piece of legislation due to missing final rules from the Securities and Exchange Commission (SEC).  While the debate continues as to what… Read More

August 12, 2014 @ 11:12 am By JD Alois  |  

In the ongoing debate about various aspects of the JOBS Act that legalizes equity crowdfunding, nine US Senators have submitted a comment letter to the SEC opposing the move to preempt state “Blue Sky” review.  The pre-emption of state review under Title IV of the… Read More

August 4, 2014 @ 8:02 am By Samuel Guzik  |  

Many of us are wondering when, if and how the SEC will finally roll out final regulations to implement major provisions of the JOBS Act of 2012, including Title III (investment crowdfunding) and Title IV (Regulation A+). So too were a group of Congressmen, gathered… Read More

July 31, 2014 @ 11:42 am By Anthony Zeoli  |  

Last Thursday (July 24) Keith Higgins, Director of the Division of Corporation Finance, gave his testimony on the Division’s recent “activities and responsibilities” to the House of Representatives Committee on Financial Services’ Capital Markets Subcommittee. Among the topics addressed by Mr. Higgins during his testimony… Read More

July 25, 2014 @ 12:04 pm By Georgia Quinn & Anthony Zeoli  |  

As promised, and I know you have all been waiting, is our comparative chart of crowdfunding regulations proposed by certain states. These regulations are not in effect yet and thus subject to changes and further amendments, but at this time this is how the states… Read More

July 23, 2014 @ 7:36 am By Georgia Quinn  |  

On July 10, thanks to the Dodd-Frank Act which mandated its reinstitution, the revived SEC Investor Advisory Committee met in a public forum to discuss certain securities law issues, including a subcommittee’s initial proposals on the definition of “accredited investor” (as defined in Section 501(a)… Read More

July 21, 2014 @ 7:00 pm By JD Alois  |  

Flannery Replaces Outgoing Director Craig Lewis. The Securities and Exchange Commission has announced it has named Mark J. Flannery as its chief economist and director of its Division of Economic and Risk Analysis (DERA), which provides analysis to help inform the Commission’s policymaking, rulemaking, enforcement,… Read More

July 21, 2014 @ 8:18 am By Samuel Guzik  |  

Many of you are still reeling from the impact of the worldwide collapse of the financial markets in 2008. And most of us have rightfully observed that following one of the greatest debacles in financial history, no one has gone to jail – no one… Read More

July 20, 2014 @ 8:30 am By JD Alois  |  

At a recent meeting of the Securities Reform Project, organized by David Burton of the Heritage Foundation, attendees had the unique opportunity to hear from SEC Commissioner Daniel Gallagher. Gallagher was appointed as Commissioner in 2011 but he is a longtime veteran of the SEC… Read More

July 15, 2014 @ 8:28 am By Georgia Quinn & Anthony Zeoli  |  

With the Securities and Exchange Commission (SEC) dragging its feet on enacting Regulation CF pursuant to Title III of the JOBS Act, many states are taking action and passing their own intrastate crowdfunding exemptions. While these only pertain to businesses and investors within a particular… Read More

July 12, 2014 @ 12:40 pm By JD Alois  |  

Equity crowdfunding portal SeedInvest has been at the forefront of championing the cause of investors and small business by battling the forces that want to deny many the opportunity to participate in certain offerings deemed only available for “accredited investors”.  As the definition stands today… Read More

July 11, 2014 @ 11:45 am By JD Alois  |  

The Securities and Exchange Commission hosted a meeting of the Investor Advisory Committee yesterday where they tackled the very important issue of defining an “accredited investor”.  Barbara Roper, the Chairman of the ‘Investor as a Purchaser Subcommittee’ closed the meeting without recommendations on altering the… Read More

July 10, 2014 @ 9:28 am By JD Alois  |  

On the day when the SEC’s Investor Advisory Committee is scheduled to discuss the definition of an “Accredited Investor”, SeedInvest – one of the leading equity crowdfunding portals in the United States- has posted a comment letter to the SEC stating their research indicates, “an… Read More

July 9, 2014 @ 6:27 pm By JD Alois  |  

The Securities and Exchange Commission Investor Advisory Committee (IAC) is set to convene tomorrow, July 10th, at the SEC headquarters in Washington, DC.  On the committees’s agenda is the important topic of the definition of an “accredited investor”. Recently Crowdfund Insider published an article by… Read More

July 7, 2014 @ 8:11 am By Samuel Guzik  |  

Some of you who read my article on July 1, 2014, entitled “Intrastate Crowdfunding at Risk -Has Intrastate Crowdfunding in Washington State Been Washed Out by NASAA and the SEC?” may have concluded that I was making a mountain out of a mole hill –… Read More

July 1, 2014 @ 8:32 am By Samuel Guzik  |  

Has Intrastate Crowdfunding in Washington State Been Washed Out by NASAA and the SEC? On May 5, 2014, I published an article in Crowdfund Insider highlighting recent informal “rulemaking” at the SEC Division of Corporation Finance, which in my opinion quietly dampened the efforts of… Read More