The Securities and Exchange Commission has published the agenda for the October 5 meeting of the Advisory Committee on Small and Emerging Companies. The Advisory Committee plans to discuss and cover Regulation S-K disclosure requirements, research on corporate board diversity and outreach relating to capital raising for smaller companies. In addition, the Division of Trading… Continue Reading
This summer, the House Financial Services Committee passed the Main Street Growth Act, which calls for legislative changes to promote the formation of venture exchanges. The idea that securities exchanges specially designed for trading smaller and younger firms might be a useful addition to U.S. equity markets has been on people’s minds at the SEC… Continue Reading
On July 19, 2016, the Advisory Committee on Small and Emerging Companies met to discuss the “accredited investor” definition, the Regulation A market, and the Commission’s recent proposal regarding the definition of “small reporting companies.” In introductory remarks, Chair White shared that the Commission has received 40 comment letters regarding the Commission’s study on the… Continue Reading
The agenda for the July 19 meeting of the SEC Advisory Committee on Small and Emerging Companies was recently announced. During the meeting, the Committee will consider the “Accredited Investor” definition recommendation as discussed during the May 18 meeting. There will also be an update and review of the first year of Regulation A+. The… Continue Reading
The SEC Advisory Committee on Small and Emerging Companies will hold its next meeting on Tuesday, July 19, 2016 at 9:30 a.m. EDT. The meeting will be open to the public and available via webcast on the SEC’s website.
The SEC has announced the agenda for its May 18 meeting of the Advisory Committee on Small and Emerging Companies. The meeting will focus on the definition of “accredited investor”, where the recent SEC staff report will be discussed. The Committee is then set to discuss unregistered securities offerings under Regulation D. The meeting will begin… Continue Reading
In connection with today’s meeting of the SEC’s Advisory Committee on Smaller and Emerging Companies, Chair White made introductory remarks. Chair White touched on a number of the initiatives that the Advisory Committee had addressed prior to its recent renewal. Chair White also provided updates on a few matters, including the following: Proposed Changes to… Continue Reading
The SEC announced the agenda for the first meeting of the reconstituted Advisory Committee. The Committee will meet on February 25th beginning at 9.30am. The Committee will examine the capital formation landscape for small and emerging companies, including data on capital raised in unregistered securities offerings.
It was a productive morning at the last meeting of its current term for the SEC Advisory Committee on Small and Emerging Companies. The Committee, which has been renewed for two more years, approved three recommendations to be sent to the SEC for consideration. During the opening remarks, the SEC acknowledged the need for rulemaking… Continue Reading
On Friday, the Securities and Exchange Commission announced that the next meeting of its Advisory Committee on Small and Emerging Companies will focus on adopting recommendations related to intrastate crowdfunding, the treatment of finders that assist companies in capital raising activities, and improving public company disclosure.
The SEC Advisory Committee on Small and Emerging Companies will hold its next meeting on September 23, 2015 at 9:30 a.m. The meeting is open to the public and also webcast on the SEC’s website. The agenda for the meeting includes matters relating to rules and regulations affecting small and emerging companies under the federal… Continue Reading
During their July 15 open telephone meeting, the SEC’s Advisory Committee on Small and Emerging Companies continued discussion on the regulatory treatment of “finders” and disclosure effectiveness relating to small businesses. The Committee acknowledged the importance of “finders” and other intermediaries in the capital-raising efforts of small businesses, citing limited broker-dealer involvement due to the… Continue Reading
The SEC Advisory Committee on Small and Emerging Companies plans to continue discussions from its June 3 meeting regarding public company disclosure effectiveness and the regulatory treatment of “finders” at its July 15, 2015 public meeting. The open conference call is set to begin at 1:00pm EDT. For more information, see the SEC’s press release… Continue Reading
The Securities and Exchange Commission Advisory Committee on Small and Emerging Companies will hold an open, public telephone meeting on Wednesday, July 15, 2015, beginning at 1:00 p.m. EDT. The meeting will be webcast on the SEC’s site.
At last week’s SEC Advisory Committee on Small and Emerging Companies meeting, the Committee recommended that the SEC formalize the exemption in order to promote capital formation. Currently, there also is a pending bill, the RAISE Act, which would provide a statutory exemption that mimics the informal exemption as it has developed over time. Given… Continue Reading
The SEC announced that the next meeting held on June 3rd of its Advisory Committee on Small and Emerging Companies will focus on public company disclosure effectiveness, intrastate crowdfunding, venture exchanges, and treatment of “finders.” The Committee also will vote on a recommendation to the Commission regarding the “Section 4(a)(1½) exemption” sometimes used by shareholders… Continue Reading
The SEC Investor Advisory Committee will hold its next meeting on Thursday, April 9, 2015, beginning at 9.30am. The meeting will be webcast on the SEC’s website. The agenda includes a discussion of the recommendations of the SEC Advisory Committee on Small and Emerging Companies. The full agenda may be found here: https://www.sec.gov/spotlight/investor-advisory-committee-2012/iac040915-agenda.htm.
The Committee discussed: Regulation A+; secondary market trading for private securities; venture capital exchanges; and the accredited investor definition. The presentation materials are available from the SEC website at http://www.sec.gov/info/smallbus/acsec.shtml. In the introductory remarks made by Commissioner Gallagher, he emphasized the importance of taking steps in order to promote liquidity in the market for private… Continue Reading
The SEC’s advisory committee will meet this Wednesday to discuss and address means of promoting secondary market liquidity for the securities of small and emerging companies, including addressing the Section 4(a)(1-1/2) exemption, as well as to vote on a recommendation regarding the “accredited investor” definition. The session will be webcast and available from the SEC’s… Continue Reading
The SEC announced that its Advisory Committee on Small and Emerging Companies will hold a public meeting on February 17 in order to vote on recommendations to the SEC regarding the definition of an “accredited investor.” In prior posts, we noted that the Committee had discussed revisions to the current accredited investor definition in order… Continue Reading
The SEC announced that at the December 17th meeting of the Advisory Committee on Small and Emerging Companies, the group will focus on the definition of “accredited investor.” As we have written in prior posts, the Dodd-Frank Act requires that every four years the SEC consider the definition. In addition, following the relaxation of the… Continue Reading
In a recent speech delivered at a Futures Industry Association conference (see full text here: http://www.sec.gov/News/Speech/Detail/Speech/1370540289361), Commissioner Gallagher raised the possibility of a venture exchange. Commissioner Gallagher addressed broader market structure issues in his remarks; however, he devoted a substantial portion of the speech to the benefits that might be associated with a venture exchange… Continue Reading
The SEC announced the renewal of the Committee. In 2011, the Committee had been established for two-year term. The Committee will continue its work on emerging companies (those under $250m in market capitalization) and capital-raising issues. See: http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370539858182.
Today, the SEC announced the agenda for the upcoming meeting of the Advisory Committee on Small and Emerging Companies. The discussion is expected to include the final rules adopted by the Commission in July to eliminate the general solicitation ban and disqualify bad actors from certain securities offerings and its proposal for further amendments to… Continue Reading