The Securities and Exchange Commission proposed yesterday, August 29, 2012, amendments to Rule 506 of Regulation D and Rule 144A under the Securities Act of 1933 as directed by the Jumpstart Our Business Startups Act. The SEC proposed new Rule 506(c) which allows general solicitation and general advertising, provided that all purchasers are accredited investors, …
On December 21, 2011, the Securities and Exchange Commission, in Securities Act Release No. 9287, amended net worth standard in the definition of “accredited investor” excluding the value of a person’s home from net worth calculations in order to participate in unregistered securities offerings as required by the Dodd-Frank Wall Street Reform Act and Consumer …
Net Worth Standard for Accredited Investors – Securities Act Release No. 9287 Read More »
On Friday, August 12, 2011, the Securities and Exchange Commission’s much discussed whistleblower program became effective with the launch of a new webpage for people to report a violation of the federal securities laws and apply for a financial award and the introduction of the new Office of the Whistleblower. To be considered for an award, the final rules …
SEC’s Whistleblower Program is Officially Launched Read More »
On March 2, 2011, the Securities and Exchange Commission proposed rules to require certain financial institutions, broker-dealers and investment advisers with $1 billion or more in assets, to disclose their incentive-based compensation practices and prohibit such institutions from having compensation arrangements that encourage inappropriate risks. Proposed Rules 1) Disclosures about Incentive-Based Compensation Arrangements Annual Filing with appropriate …
On February 18, 2011, the Securities and Exchange Commission issued Release No. 34-63933, approving FINRA Rule 1113 (Restrictions Pertaining to New Member Applications) and amendments to the FINRA Rule 9520 Series (Eligibility Proceedings) to restrict new applicants’ and certain members’ association with disqualified persons based on the belief that “new member applicant[s] should enter FINRA membership …
SEC Approves FINRA New Member Restrictions Regarding Disqualified Persons Read More »
On January 25, 2011, the Securities and Exchange Commission proposed a revised net worth standard as required under the Dodd-Frank Street Reform and Consumer Protection Act in Securities Act Release Number 9177. The SEC has requested comments by March 11, 2011. The link above is a summary of the important proposals of the SEC’s Release …
Proposed Rule: Net Worth Standard for Accredited Investors – Release 9177 Read More »
The SEC Division of Trading and Markets extended, but amended by increasing the conditions, for broker-dealers relying on registered investment advisers to perform customer identification program (“CIP”) requirements. On January 11, 2011, the SEC agreed to extend for two years the position taken in a 2004 No-Action Letter (and subsequent extensions in 2005, 2006, 2008 and …
On December 28, 2010, the Securities and Exchange Commission issued Release No. IA-3129, which among other things extended the compliance date for Part 2B of the Form ADV, the brochure supplement and rules related to delivery of the supplement for registered investment advisers under the Investment Advisers Act of 1940. Background Previously, the SEC adopted amendments …
SEC Issues Compliance Extension to Part 2B of Form ADV and the Brochure Supplement Read More »
