Regulation A+ and Testing the Waters
Déjà Vu 2012: A Zombie-Frankenstein JOBS Act 2.0 in the Works
Regulation A+ and Testing the Waters
Déjà Vu 2012: A Zombie-Frankenstein JOBS Act 2.0 in the Works
Regulation A+ and Testing the Waters
Déjà Vu 2012: A Zombie-Frankenstein JOBS Act 2.0 in the Works
Regulation A+ and Testing the Waters
Déjà Vu 2012: A Zombie-Frankenstein JOBS Act 2.0 in the Works
Regulation A+ and Testing the Waters
Déjà Vu 2012: A Zombie-Frankenstein JOBS Act 2.0 in the Works
Six Steps You Must Take Now to Succeed at Crowdfunding
Regulation A+ and Testing the Waters
Déjà Vu 2012: A Zombie-Frankenstein JOBS Act 2.0 in the Works
Regulation A+ and Testing the Waters
April 1, 2015, Author: Andrew Stephenson, Crowdcheck
One of the most useful provisions of the Regulation A+ Rules issued by the SEC on May 25 is new Rule 255, “Solicitations of interest and other communications.” This provision allows companies to “test the waters” and determine if there is any interest in its investment offering before it has filed anything with the SEC, prepared any offering materials, hired counsel, engaged an accountant, or even formed the company that will offer securities. However, there is a catch. Once a company has relied on the testing the waters provision under Rule 255 without having filed anything with the SEC or state regulators, it may only rely on Tier 2 of the new Regulation A+ rules.
This odd situation was identified by Securities and Exchange Commission, Commissioner Daniel Gallagher at Vanderbilt Law School. The new rules only preempt state securities registration rules when “securities are offered or sold pursuant to a Tier 2 offering.” Offers not made under Tier 2 must comply with all state law filing requirements. Rule 255, allowing for testing the waters communications, specifically identifies all testing the waters communications as offers of securities.
Déjà Vu 2012: A Zombie-Frankenstein JOBS Act 2.0 in the Works
Is JOBS Act 2.0 in the works? D.J. Paul, the co-founder and board member of two crowdfunding industry organizations, the Crowdfunding Intermediary Regulatory Advocates and Crowdfunding Professional Association, “believes that there will be a JOBS Act 2.0.”
Regulation A+ and Testing the Waters
Déjà Vu 2012: A Zombie-Frankenstein JOBS Act 2.0 in the Works
Regulation A+ and Testing the Waters
Déjà Vu 2012: A Zombie-Frankenstein JOBS Act 2.0 in the Works
Six Steps You Must Take Now to Succeed at Crowdfunding
The Commission has another great opportunity in its rulemaking for crowdfunding. Crowdfunding holds the promise of harnessing the power of the internet to provide capital for start-ups and small businesses that otherwise lack access to such capital.
EC Commissioner Kara M. Stein addressed the North American Securities Administrators Association (NASAA) at their 2014 Public Policy conference in Washington, DC., April 8, 2014
Despite this significant progress, there is much that the SEC still needs to accomplish. Completing the rulemakings and studies mandated by Congress in the Dodd-Frank and JOBS Acts remains among my top priorities.
Chairman Mary Jo White, Securities and Exchange Commission, Testimony before the Subcommittee on Financial Services and General Government Committee on Appropriations, United States Senate, May 14, 2014
The Commission has another great opportunity in its rulemaking for crowdfunding. Crowdfunding holds the promise of harnessing the power of the internet to provide capital for start-ups and small businesses that otherwise lack access to such capital.
EC Commissioner Kara M. Stein addressed the North American Securities Administrators Association (NASAA) at their 2014 Public Policy conference in Washington, DC., April 8, 2014
Despite this significant progress, there is much that the SEC still needs to accomplish. Completing the rulemakings and studies mandated by Congress in the Dodd-Frank and JOBS Acts remains among my top priorities.
Chairman Mary Jo White, Securities and Exchange Commission, Testimony before the Subcommittee on Financial Services and General Government Committee on Appropriations, United States Senate, May 14, 2014
The Commission has another great opportunity in its rulemaking for crowdfunding. Crowdfunding holds the promise of harnessing the power of the internet to provide capital for start-ups and small businesses that otherwise lack access to such capital.
EC Commissioner Kara M. Stein addressed the North American Securities Administrators Association (NASAA) at their 2014 Public Policy conference in Washington, DC., April 8, 2014
Despite this significant progress, there is much that the SEC still needs to accomplish. Completing the rulemakings and studies mandated by Congress in the Dodd-Frank and JOBS Acts remains among my top priorities.
Chairman Mary Jo White, Securities and Exchange Commission, Testimony before the Subcommittee on Financial Services and General Government Committee on Appropriations, United States Senate, May 14, 2014
The Commission has another great opportunity in its rulemaking for crowdfunding. Crowdfunding holds the promise of harnessing the power of the internet to provide capital for start-ups and small businesses that otherwise lack access to such capital.
EC Commissioner Kara M. Stein addressed the North American Securities Administrators Association (NASAA) at their 2014 Public Policy conference in Washington, DC., April 8, 2014
Despite this significant progress, there is much that the SEC still needs to accomplish. Completing the rulemakings and studies mandated by Congress in the Dodd-Frank and JOBS Acts remains among my top priorities.
Chairman Mary Jo White, Securities and Exchange Commission, Testimony before the Subcommittee on Financial Services and General Government Committee on Appropriations, United States Senate, May 14, 2014
The Commission has another great opportunity in its rulemaking for crowdfunding. Crowdfunding holds the promise of harnessing the power of the internet to provide capital for start-ups and small businesses that otherwise lack access to such capital.
EC Commissioner Kara M. Stein addressed the North American Securities Administrators Association (NASAA) at their 2014 Public Policy conference in Washington, DC., April 8, 2014
Despite this significant progress, there is much that the SEC still needs to accomplish. Completing the rulemakings and studies mandated by Congress in the Dodd-Frank and JOBS Acts remains among my top priorities.
Chairman Mary Jo White, Securities and Exchange Commission, Testimony before the Subcommittee on Financial Services and General Government Committee on Appropriations, United States Senate, May 14, 2014
The Commission has another great opportunity in its rulemaking for crowdfunding. Crowdfunding holds the promise of harnessing the power of the internet to provide capital for start-ups and small businesses that otherwise lack access to such capital.
EC Commissioner Kara M. Stein addressed the North American Securities Administrators Association (NASAA) at their 2014 Public Policy conference in Washington, DC., April 8, 2014
Despite this significant progress, there is much that the SEC still needs to accomplish. Completing the rulemakings and studies mandated by Congress in the Dodd-Frank and JOBS Acts remains among my top priorities.
Chairman Mary Jo White, Securities and Exchange Commission, Testimony before the Subcommittee on Financial Services and General Government Committee on Appropriations, United States Senate, May 14, 2014