On June 18th, 2020, The Office of the Advocate for Small Business Capital Formation virtually hosted the SEC's 39th annual Government-Business Forum on Small Business Capital Formation. The SEC Chairman Jay Clayton, Commissioner Hester M. Peirce, Commissioner Elad L. Roisman, and Commissioner Allison Herren Lee gave introductory
Category: Smaller Reporting Company
SEC Small Business Capital Formation Advisory held a virtual meeting on April 2, to discuss the impact of Covid-19 on small businesses along with proposed and adopted relief measures. SEC Chairman Jay Clayton started the session with concern on preserving the capital during current times and referred to actions taken by the SEC
Rule 15c6-1(a) - From T+3 to T+2
In March 2017, the Securities and Exchange Commission (SEC) amended Rule 15c6-1(a), shortening the settlement cycle from T+3 to T+2. The “T” in “T+2” and “T+3” stands for transaction date, the date that a transaction occurs. T+ (1, 2 or 3) represents the settlement date, the date tha
On June 8, 2017, the House of Representatives passed the Financial CHOICE Act (“Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs”). The act regulates banking institutions’ qualifying capital through numerous exemptions and policies. Further, the act repeals the Financial Stability Oversight Counc
On April 12, 2017, the Financial Industry Regulatory Authority (FINRA) published three regulatory notices proposing amendments to three of their rules regarding capital formation, corporate financing, and safe harbor, respectively. The first notice describes FINRA as a self-regulatory organization (SRO) with primary emphases on
The SEC Advisory Committee on Small and Emerging Companies met on February 25, 2016 to discuss access to capital and private offerings. This Committee was organized by the SEC to provide advice on any rules, regulations, and policies and was designed to protect investors. In the Committee’s discussion of capital and private of
The SEC recently proposed several amendments to the Investment Advisers Act of 1940, commonly referred to as the “Advisers Act.” These amendments specifically focus on rule 203(l)-1 and rule 203(m)-1, the definition of a venture capital fund, and the private fund adviser exemption. They are designed to better reflect changes
The Fixing America’s Surface Transportation Act (FAST Act) was signed into law on December 4, 2015 by President Barrack Obama. The FAST Act contains many securities related bills which required SEC guidance following the implementation of these new rules. The SEC released interim rules regarding two provisions of the FAST Act
Most beginning entrepreneurs do not find themselves in a situation where the money they need to start their business is readily available. In fact, the opposite is true, with many entrepreneurs struggling even to acquire the necessary funding to create a prototype.
For these small scale, low budget entrepreneurs, equity-based
Shareholders Can Gain a Better Understanding of Corporate Governance
On April 29, 2015, the SEC proposed a ruling that would require corporations to disclose the relationship between executive pay and fiscal performance. SEC Chair Mary Jo White stated that the ruling would better inform shareholders of voting proposals set fort
As large and small reporting companies get ready for their annual meetings this year, they should keep in mind the new rules involving shareholder approval on executive compensation. These rules, required under the Dodd-Frank Wall Street Reform and Consumer Protection Act, will need to be included on all proxy cards after Jan. 2
As large and small reporting companies get ready for their annual meetings this year they should keep in mind the new rules involving shareholder approval on executive compensation. These rules, required under the Dodd-Frank Wall Street Reform and Consumer Protection Act, will need to be included on all proxy cards after Jan. 21