ENTER THE MINI-IPO – SEC Approves Final Rules for Title IV of the JOBS Act (Regulation A+)

Mini IPOIn an open meeting Wednesday, the Securities and Exchange Commission (SEC) elected to approve and release the long-awaited final rules for Title IV of the JOBS Act (commonly referred to as Regulation A+). Per the final rules, under Regulation A+ companies will be permitted to offer and sell up to $50 million of securities to the general public subject to certain eligibility, disclosure and reporting requirements.

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P2F2P?? – Facebook Releases “P2P” Payment Service

UntitledEarlier this week Facebook announced the release of a new “P2P” payment feature to its messenger service which will allow users to send (and receive) money to each other. While still in beta testing, the service is expected to be available to U.S. desktop and mobile users in the next few months. It’s easy to see that Zuckerberg’s entry into the P2P payment industry is going to spell trouble for existing industry leaders. The question is however, what effect, if any, will it have on the crowdfunding industry?

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ALL HAIL THE COMING OF HB 3429 – The Illinois Intrastate Crowdfunding Bill

Hail 1Alright so maybe “ALL HAIL” might be a little much but cut me some slack, I’m excited. After more than a year of lobbying, campaigning and pounding the pavement Illinois finally has a filed intrastate crowdfunding exemption bill. Well, that’s not entirely true … Illinois actually now has three proposed bills…

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LOCK IT UP – SEC and FINRA Weigh In On Cybersecurity Issues At Brokerage And Advisory Firms

 

padlock digtal security concept iluustrationEarly in 2014, the U.S. Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) announced its intention to conduct an examination of certain registered broker-dealers and investment advisers in order to assess the general vulnerability of the securities industry, as a whole, to cyber-attacks. On February 3rd the OCIE released the results of the survey in the form a “Risk Alert” (the “OCIE Report“). On the same day the Financial Industry Regulatory Authority (FINRA) released a somewhat related report entitled “Report on Cybersecurity Practices” (the “FINRA Report”) which focuses on both identifying cybersecurity issues faced by broker-dealers and recommending strategies for combating them. While the results presented in both reports are generally positive, there were some surprising and notable weaknesses.

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STATE OF THE STATES – An Update On Intrastate Crowdfunding (February, 2015)

Split Map 7As the S.E.C. continues to drag its feet on releasing final Title III crowdfunding rules, the intrastate crowdfunding movement shows no signs of slowing down. Here is a brief update as to the status of the enactment/use of intrastate crowdfunding exemptions in certain states.

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