The SEC recently posted on its website the Final Report from the 2012 SEC Government-Business Forum on Small Capital Formation, which was held in the fall of 2012. The report may be accessed at http://www.sec.gov/info/smallbus/sbforum.shtml. The report includes 35 recommendations from the Forum, with quite a number of these focused on crowdfunding. Setting aside those… Continue Reading
On April 11, 2013, Lona Nallengara, Acting Director of the SEC’s Division of Corporation Finance, and John Ramsay, Acting Director of the Division of Trading & Markets offered testimony before the House Subcommittee on Investigations, Oversight and Regulations of the Committee on Small Business. Their testimony, which provides an overview of the Act and the… Continue Reading
On April 8, 2013, the Senate confirmed Mary Jo White as the next Chairman of the Securities and Exchange Commission. The confirmation was done by unanimous consent on the first day of the Senate following a two-week recess. Mary Jo White will face a daunting task at the Commission in moving forward a number of… Continue Reading
On March 26, 2013, the SEC’s Division of Trading and Markets provided no-action relief to FundersClub Inc. and FundersClub Management LLC, indicating that the Division would not recommend enforcement action under Section 15(a)(1) of the Exchange Act if FundersClub and FundersClub Management LLC operated a platform through which its members could participate in Rule 506… Continue Reading
The Staff of the Division of Corporation Finance recently published a summary of the various capital-raising alternatives available to foreign issuers. The summary is accessible from this link: http://www.sec.gov/divisions/corpfin/internatl/foreign-private-issuers-overview.shtml. The summary incorporates discussion of the applicability of various JOBS Act provisions to offerings by foreign private issuers.
Today, the SEC announced the final schedule and panelists for the upcoming decimalization roundtable, see http://www.sec.gov/news/press/2013/2013-16.htm.
Today the Securities & Exchange Commission announced the agenda for the February 1st meeting of the Advisory Committee (see: http://www.sec.gov/news/press/2013/2013-11.htm), which is open to the public, and also available afterward for webcast viewing. The group will discuss tick sizes, the creation of a sophisticated-investor only exchange for emerging companies, and scaled disclosures.
On January 18, 2013, the Investor Advisory Committee held its first meeting of the new year. SEC Chair Walters provided some opening remarks (seehttp://www.sec.gov/news/speech/2013/spch011813ebw.htm) in which she emphasized the Commission’s intentions of moving forward efficiently with the rulemaking required by Dodd-Frank and by the JOBS Act. She commented on the pace of change in the… Continue Reading
The Investor Advisory Committee will hold a meeting Friday, January 18, 2013, which will begin at 10:00 a.m. (EDT). The meeting is open to the public and will be webcast on the SEC’s site. The agenda for the meeting includes introductory remarks from Chairman Walter and Commissioners; introductory remarks from Committee officers; discussion of administrative… Continue Reading
The SEC recently announced that the Advisory Committee will hold its next public meeting on Friday, February 1, 2013, at 9:30 a.m. (EDT). Meetings are open to the public and also webcast on the SEC site. The agenda for the meeting includes consideration of recommendations and other matters relating to rules and regulations affecting small… Continue Reading
The White House announced today that Elisse Walter will serve as SEC Chairman when Chairman Schapiro departs next month. The concurrent appointment of a successor to Chairman Schapiro from among the Commissioners could bode well for keeping the broad range of initiatives that the SEC has been pursuing on track, including the rulemaking required under… Continue Reading
The SEC announced today that Mary Schapiro will step down from her position as SEC Chairman next month, after nearly four years in office. Chairman Schapiro has been deeply involved in the agency’s response to capital-raising concerns of issuers and the agency’s response to the JOBS Act, directing the SEC’s staff to look closely at… Continue Reading