Andrew Madoff (above), whose father Bernie admitted stealing billions in the biggest Ponzi scheme ever, died of cancer last month. According to NYC court documents, he has left an estate worth $15 million. He left a third to his mom and his estranged wife, a...
A fascinating recent piece in the New York Law Journal talks about the many dismissals of class action cases against US public companies based in China for alleged fraud. The cases say that because these companies' regulatory financial filings in China are sometimes different than the...
An important appeals court this month has us all talking again about SEC settlements with big banks. Several years ago a lower court rejected a $285 million settlement with Citibank over alleged misleading claims in the mortgage business. The federal judge reviewing the settlement said...
I'm off to the City of Lost Wages to speak at the Growth Capital Expo (www.growthcapitalexpo.com) this week. It's the first conference from this group which includes some experienced folks who have run many conferences in our space over the years. There are lots of...
According to a recent report from the New York Stock Exchange, IPOs are back. The year 2013 saw the most IPOs since 2007, at 200 (this did not include SPACs). This in the first full year after passage of the Jumpstart Our Business Startups (JOBS)...
A key subcommittee of the US House Financial Services Committee has announced a hearing tomorrow morning to begin consideration of a group of 7 bills that could coalesce into a large initiative to benefit small businesses and smaller public companies. Some are saying this, along...
I'm reposting and updating the below, which first appeared here nearly a year ago. I remain determined in my quest for the major stock exchanges to consider some alterations to the reverse merger “seasoning” requirements instituted in November 2011. As we know, these restrictions were added...
A jury in federal court in Manhattan has spoken. They found that five of convicted swindler Bernie Madoff's employees knew that the multi-billion dollar Ponzi scheme he orchestrated was illegal and fraudulent. It looks like they are all headed for the hoosegow along with Bernie,...
Many seem a little confused by the flurry of regulatory activity in Congress and the SEC the last few years when it comes to small business and capital formation. Regulation D? Regulation A? Kickstarter? Crowdfunding? Which is which? Here's a few sentences so you can...
One of the biggest changes in the regulation of capital formation by smaller companies is coming. The revisions to SEC Regulation A, mandated by the Jumpstart Our Business Startups (JOBS) Act of 2012, have been proposed by the SEC. Comments must be submitted no later...