The SEC just announced that it has adopted final rules that will permit full SEC reporting companies to conduct public offerings utilizing the modern crowdfunding capabilities with Regulation A+. We are still awaiting the details of the new rules, but they will become effective immediately...
Reporting from the Practising Law Institute's Annual Institute on Securities Regulation here in NYC. I was honored to serve on a panel next to Jennifer Zepralka, head of the SEC's Office of Small Business Policy. Jennifer provided a very positive report on Regulation A+. Here...
Get the holiday theme? It hit me on the way to work. There seem to be two camps with views on how Regulation A+ is doing now that it has been over two years since the dismissal of two states' attempt to stop the new...
A few weeks ago the President renewed discussion of the possibility of eliminating quarterly reporting by US public companies and moving back to semi-annual reports. In a tweet on August 17, he said, “In speaking with some of the world’s top business leaders I asked what...
The SEC Commissioners voted unanimously last month to expand the definition of “smaller reporting company.” This change has been requested as a key recommendation for a number of years at the annual SEC small business conference. Companies with SRC status have somewhat relaxed disclosure and...
The President today signed the Economic Growth, Regulatory Relief and Consumer Protection Act. Most of the bill is centered around easing some Dodd-Frank restrictions as they apply to smaller banks. But buried in Section 508, called "Improving Access to Capital," Congress adopted a major change...
I recently reviewed data from OTC Markets Group, Inc. noting that nine community banks with market capitalizations below $100 million have successfully completed Regulation A+ IPOs. All are trading on the platforms of OTC Markets, including OTCQX, OTCQB and Pink Current. Even better news: the...
Last November, the SEC held its annual conference focused on small business in Austin, TX. Most of the conference consists of participants developing recommendations to the SEC. Those recommendations are then ranked by the participants and published, which they have recently done. The recommendations from...
Following interest from companies like Spotify, the New York Stock Exchange last week received SEC approval to list companies on the Exchange even if they are not conducting an IPO. These direct listings, sometimes known as self-filings, already are permitted on the Nasdaq. The Exchange...
Today, Sebastian Abero, the head of the SEC's Office of Small Business Policy, had some very positive news for those interested in the new Regulation A+. He revealed that, since the Reg A+ rules were adopted by the SEC in June 2015, through September 2017,...