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
The SEC has made available the archived version of the webcast from the most recent meeting, held on May 1, 2013. The meeting included presentations from Duncan Niederauer, Chief Executive Officer of NYSE Euronext, and William Hambrecht, CEO of WR Hambrecht + Co., as well as discussions with several Commissioners. The webcast is accessible from… Continue Reading
The next meeting of the Advisory Committee will be held on May 1st, beginning at 9:30 am, and will be webcast on the SEC’s website. It is anticipated that the presentations will address various JOBS Act related matters. The SEC announced that the Committee will hear presentations from Robert Greifeld, Chief Executive Officer of NASDAQ… Continue Reading
The SEC’s Advisory Committee on Small and Emerging Companies will be holding its next meeting on May 1, 2013. The Committee’s meeting will be open to the public and also will be webcast on the SEC’s site. It is anticipated that the Committee will continue its discussions regarding various JOBS Act related measures.
The SEC has made available links to the webcasts from Friday’s meeting of the Advisory Committee on Smaller and Emerging Companies. You may access the morning session at http://www.sec.gov/news/otherwebcasts/2013/acsec020113.asx and the afternoon session at http://www.sec.gov/news/otherwebcasts/2013/acsec020113-2.asx. Chairman Walter began the meeting with a few opening remarks, which may be accessed here: http://www.sec.gov/news/speech/2013/spch020113ebw.htm. Chairman Walter invited the… Continue Reading