The SEC Moves One Step Closer to Permitting Equity Crowdfunding

23 Oct
2013
By: Jessica R. Sudweeks

Earlier today, a five member panel of the SEC unanimously approved the release of proposed “crowdfunding” rules, which, if approved, would allow ordinary investors to buy stock directly from companies using online crowdfunding exchanges (think Kickstarter campaigns to sell shares of stock). The proposed rule will be open for public comment over the next 90 days, at which time the SEC is anticipated to implement a final rule.

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Any System Can Break

30 Sep
2013
By: Nicole E. York

In the public company market, a key function of the financial reporting department is to communicate with the Securities and Exchange Commission.  What began decades ago as paper submissions have now become electronic transmissions of HTML and XBRL code.  Financial reporting has become such an automated practice between company, filing agent, and the SEC, that many forget what lies behind the final step of the process: EDGAR.

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The SEC Liberalizes Reg D Financings: Not So Fast!

15 Aug
2013
By: Jessica R. Sudweeks

On July 10, 2013, the SEC released long awaited amendments to Regulation D to permit “general solicitation” and “general advertising” in private securities offerings, as mandated by the JOBS Act.   While much has been written about how new Rule 506(c) will make it easier to market a private placement to accredited investors, little has been said about the heightened due diligence issuers will be faced with in order to take advantage of the liberalized rules.

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