Resale of Crowdfunding Securities And An Aftermarket
In accordance with Section 302(e) of the Crowdfunding Act, the securities issued in a crowdfunding offering are restricted securities. The Crowdfunding Act states that the securities purchased in a...
View ArticleCrowdfunding Intermediaries-Questions
On April 5, 2012 President Obama signed the JOBS Act into law. Part of the JOBS Act is the Crowdfunding Act, the full title of which is the “Capital Raising Online While Deterring Fraud and Unethical...
View ArticleComments In Advance To Rule Making On Elimination On Advertising And...
Summary of Title II Title II of the JOBS Act provides that, within 90 days of the passage of the JOBS Act (i.e. July 5, 2012), the SEC will amend Section 4(2) of the Securities Act of 1933 and...
View ArticleSEC Still on Track to Meet the 270 Deadline to Enact Crowdfunding Rules
The SEC is still on track and expects to meet the 270 day deadline to draft rules and enact Title III of the JOBS Act creating the new crowdfunding exemption. As I wrote about before the July 4th...
View ArticleFINRA Seeks Public Comment in Advance of Crowdfunding Rulemaking
The Financial Industry Regulatory Authority (FINRA) has requested public comment and input in advance of preparing and publishing proposed rules related to the Crowdfunding Act. The scope of the FINRA...
View ArticleCrowdfunding Direct Public Offerings
Background: As a reminder, on April 5, 2012 President Obama signed the JOBS Act into law. Part of the JOBS Act is the Crowdfunding Act, the full title of which is the “Capital Raising Online While...
View ArticleProposed Rules Eliminating the Prohibition Against General Solicitation and...
As required by Title II of the JOBS Act, the SEC has published proposed rules eliminating the prohibition against general solicitation and advertising in Rules 506 and 144A offerings. In a move that...
View ArticleCROWDFUNDING USING REGULATION A? YES, YOU CAN—RIGHT NOW!
As everyone waits for the SEC to begin rule making on Title III of the JOBS Act, a few innovative entrepreneurs are using Regulation A as a vehicle to crowdfund today. Although the procedure, as...
View ArticleState Crowdfunding Using Intrastate Offerings and Rule 147
The SEC has yet to publish proposed rules under Title III of the JOBS Act – the Crowdfunding Act. The Crowdfunding Act amends Section 4 by of the Securities Act of 1933 (the Securities Act) to create...
View ArticleProposed Crowdfunding Rules – Part I
As required by Title III of the JOBS Act, on October 23, 2013, the SEC has published proposed crowdfunding rules. The SEC has dubbed the new rules “Regulation Crowdfunding.” The entire text of the...
View ArticleProposed Crowdfunding Rules – Part II
As required by Title III of the JOBS Act, on October 23, 2013, the SEC has published proposed crowdfunding rules. The SEC has dubbed the new rules “Regulation Crowdfunding.” The entire text of the...
View ArticleProposed Crowdfunding Rules – Part III
As required by Title III of the JOBS Act, on October 23, 2013, the SEC has published proposed crowdfunding rules. The SEC has dubbed the new rules “Regulation Crowdfunding.” The entire text of the...
View ArticleProposed Crowdfunding Rules – Part IV
As required by Title III of the JOBS Act, on October 23, 2013, the SEC published proposed crowdfunding rules. The SEC has dubbed the new rules “Regulation Crowdfunding.” The entire text of the rule...
View ArticleThe SEC Establishes Key Exemption to the Broker-Dealer Registration...
On January 31, 2014, the SEC Division of Trading and Markets issued a no-action letter in favor of entities effecting securities transactions in connection with the sale of equity control of private...
View ArticleCrowdfunding Using Intrastate Offerings And Rule 147 – Is Florida Next?
As required by Title III of the JOBS Act, on October 23, 2013, the SEC published proposed crowdfunding rules. The SEC has dubbed the new rules “Regulation Crowdfunding.” The entire 584-page text of...
View ArticleSEC Has Finalized Rules Disqualifying Felons and Other “Bad Actors” from Rule...
On July 10, 2013, the same day the SEC has adopted final rules eliminating the prohibition against general solicitation and advertising in Rules 506 and 144A offerings as required by Title II of the...
View ArticleWill FINRA Rule Changes Related to Private Placement Further Deter Broker...
On August 19, 2013, FINRA published Regulatory Notice 13-26 about the updated Private Placement Form that firms must file with FINRA when acting as a placement agent for the private placement of...
View ArticleAn Overview of Exemptions for Hedge Fund Advisors: Exemptions for Advisors to...
The JOBS Act is not the only recent congressional act to change the landscape of hedge funds; the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”) made significant changes...
View ArticleOTC Markets Comments On Proposed SEC Rules Regarding Amendments to Regulation...
On July 10, 2013, the SEC issued proposed rules further amending Regulation D, Form D and Rule 156. On September 23, 2013 the OTC Markets Group published a letter responding to the SEC’s request for...
View ArticleClik here to view.
Case Study Of Online Funding As Related To Broker-Dealer Exemptions
Introduction As a recurring topic, I am discussing exemptions to the broker-dealer registration requirements for entities and individuals that assist companies in fundraising and related services. On...
View Article