Tagged: securities and exchange commission

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

December 12, 2016 @ 4:30 pm By Anthony Zeoli  |  

2016 brought with it many developments in the crowdfunding industry, most notably the introduction of the long-awaited Title III crowdfunding. While admittedly not all crowdfunding legislation passed  was as influential, there have been significant strides made to improve existing securities regulations and to continue prying… Read More

December 11, 2016 @ 6:21 pm By JD Alois  |  

The SEC Small Business Advocate Act of 2016 or HR 3784 passed the Senate on Friday (December 9, 2016) as part of a last-minute legislative push before Congress adjourns for the holiday season. The bill passed the House earlier this year meaning the bill will… Read More

November 30, 2016 @ 1:16 pm By Samantha Hurst  |  

Funding Wonder Crowd, LLC, a small business lending platform operator, announced on Wednesday it was approved by FINRA (the Financial Industry Regulatory Authority) as a licensed Regulation Crowdfunding Portal. Sharing details about the new crowdfunding platform, Michael Mildenberger, CEO of Funding Wonder, stated: “Funding Wonder is… Read More

November 22, 2016 @ 2:13 pm By Samantha Hurst  |  

The Securities and Exchange Commission (SEC) announced on Monday Stephen Luparello, Director of the Division of Trading and Markets, will leave the agency by the first of the year.  Luparello was named director of the office in February 2014, and the organization stated he played a… Read More

November 16, 2016 @ 12:00 pm By Samuel Guzik  |  

With a new administration set to take the reins of power in the White House in January 2017, not to mention a new, Republican appointed Chair of the SEC in the offing, when it comes to the interests of small business’s access to capital, many… Read More

November 14, 2016 @ 11:23 am By Jessica Pham  |  

The U.S. Securities and Exchange Commission (SEC) kicked off its Fintech Forum today with remarks by Chair Mary Jo White, followed by Commissioner Michael S. Piwowar and Commissioner Kara M. Stein. Chair White told the audience that “with power comes responsibility”, namely that new fintech products should… Read More

October 27, 2016 @ 12:47 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has scheduled its annual “Government-Business Forum on Small Business Capital Formation for November 17th.  The event will he held at SEC HQ and will be open to the public. As in years past, the forum will be divided into… Read More

October 23, 2016 @ 12:59 pm By Anthony Zeoli  |  

Almost a year ago, the SEC proposed certain amendments to the current Rule 147 which were intended to help foster, and increase the viability of, Intrastate crowdfunding. While little has been heard about these amendments since their release (except from Intrastate proponents like me of… Read More

October 20, 2016 @ 8:05 pm By JD Alois  |  

The SEC has scheduled a meeting to consider proposed amendments related to Rules 147 and 504 – securities regulations that impact intrastate crowdfunding.  The meeting of the Commission is scheduled to commence at 10AM on Wednesday, October 26 at SEC HQ in Washington, DC. The… Read More

September 29, 2016 @ 12:30 pm By Samantha Hurst  |  

Fig Publishing, Inc., a crowdfunding and publishing platform that allows non-accredited investors to financially support video game development and publishing, announced on Thursday it secured SEC qualification to issue Double Fine’s Psychonauts 2 game shares. Fig stated it would be the first and only company to allow fans… Read More

August 20, 2016 @ 7:19 pm By JD Alois  |  

The case of the Ascenergy crowdfunding fraud came to light just as Reg CF or Title III crowdfunding rules were announced to the public in October of 2015.   Ascenergy, an aspiring oil and gas operation, had raised about $5 million from approximately 90 investors,… Read More

May 20, 2016 @ 11:02 am By Erin Hobey  |  

  The crowdfunding regulations of the Securities and Exchange Commission (SEC) became effective on May 16, 2016, and the agency has issued Compliance and Disclosure Interpretations (C&DIs) providing interpretive guidance on Regulation Crowdfunding. “It is encouraging to see the SEC being so proactive in issuing… Read More

April 21, 2016 @ 10:40 am By Samantha Hurst  |  

On Thursday, beauty website, BeautyKind, announced that the Securities and Exchange Commission (SEC) has approved of its Regulation A+ initial public offering (IPO). This offer is being conducted by WR Hambrecht + Co, which acts as the sole underwriter. The company is currently seeking a minimum of… Read More

January 7, 2016 @ 5:08 pm By JD Alois  |  

The SEC dedicates much of its time and resources hunting down crooks and white collar thugs. In fact, the agency spent almost a billion dollars in the last fiscal year fostering and enforcing compliance with Federal securities laws. And why is that? Because there will… Read More

December 31, 2015 @ 8:24 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has compiled a quick infographic on the top ten searches on their site.  Number 1 and 2 have to do with criminal actions: Fraud and Embezzlement.  Not too surprising.  In fact, many of the approximately 4000 SEC employees spend… 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

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

October 8, 2015 @ 1:02 pm By Jor Law  |  

For years, most capital raises conducted by private companies have primarily relied on Regulation D as an exemption from compliance with certain burdensome securities laws.  In particular, most offerings were conducted under what was known as Rule 506 under Regulation D.  Those offerings, which have… Read More

August 19, 2015 @ 5:00 pm By Charles Kaufman and Jor Law  |  

If your company has decided to take advantage of the new avenues for reaching investors under Regulation A, the biggest task you face will be preparing an offering statement that includes mandatory disclosures about the offering and the offeror, and obtaining Securities and Exchange Commission… Read More