A Congressional hearing is typically a poor venue for gaining insight into the American financial regulatory system. That sorry dynamic was on full display this week as Securities and Exchange Commission (SEC) chair Gary Gensler testified before the Senate’s committee on banking, housing and urban affairs. More
Tag Index / Showing 1 - 5 of 5 results for “SEC”
Does the SEC Have a “Crypto Mom” Problem?
Commissioner Hester Peirce has been unusually vocal in expressing her opinion that the SEC has failed to articulate clear and consistent rules. But simply saying “there ought to be rules” isn’t adequate in the long run. More
The SoFi Battle That Won’t Go Away
A long-simmering conflict over fintech superstar SoFi got a fresh boost of energy when Rep. Brad Sherman sent a letter to SEC chairman Gary Gensler, calling the recent entry into the stock market “alarming” and “troubling.” Plus, hard lessons in regulating crypto. More
Finance Government Startup Culture
Why the JOBS Act Hasn’t Launched Equity Crowdfunding
When the JOBS Act was signed into law, its knotty crowdfunding provisions quickly became a source of consternation for the SEC. More than one year later, the law continues to languish, as the SEC moves slowly to implement its two most important provisions. One would enable general advertising for private investment offerings, and another would open the floodgates by allowing unaccredited investors to participate in online equity crowdfunding. More
The SEC’s Crowdfunding Conundrum
When President Obama signed the JOBS Act last April, one of the most controversial and potentially far-reaching provisions was giving startups the ability to raise money through crowdfunding. Private companies would be able to sell shares to all manner of individual investors for the first time. Currently you need to be an "accredited investor" (a high net-worth individual) to buy private company stock through angel rounds or electronic platforms such as SecondMarket and SharesPost. But the JOBS Act will open that up to anybody as soon as the SEC hammers out the rules by early next year. More
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