These are some of the compliance-related stories that recently caught my attention.
Five Questions for Our SEC Commissioner Nominees by Matt Kelly in Radical Compliance
How would you strike the balance between investor access to information and companies’ ability to raise capital easily?
We have already seen reduced disclosure obligations for newly public companies thanks to the JOBS Act, and the SEC is mulling other ideas such as updating and expanding the definition of accredited investors who can participate in private offerings.[More..]
How to Stay Sane as a CCO by Thomas Fox
Mindset No. 1: “Be Yourself, Everyone Else is Taken”
This quote comes from Oscar Wilde. Maslanka is worried that many lawyers look around and see someone smarter or better and they feel “Cue the scene from Wayne’s World – “I’m not worthy!” Except you are. For the CCO, I think this means there will always be someone else in your company who has more of something you might think you need to do your job well (or even better). [More…]
Crime Scene: Who Stole $100 Million From Bangladesh’s Account at the New York Fed? by SYED ZAIN AL-MAHMOOD in the Wall Street Journal
In scenes that would be right at home in Hollywood, the unknown criminals sent 35 transfer requests through the Swift interbank messaging system, a Bangladesh Bank official and an official of the Ministry of Finance have said. Whoever made the requests had the necessary codes to authorize Swift transfers and put in the payment requests on a weekend, the officials said. [More…]
Secondary Sales and An Investor Covenant You Don’t Want To Miss by Joe Wallin in the Startup Law Blog
Section 4(a)(7) is a new federal securities law that basically says, it’s OK for you to sell your investment in a private company, as long as you don’t generally advertise the securities for sale, sell to another accredited investor, and the company cooperates with certain information requirements. [More…]
Investment Advisor or Investment Adviser? by Keith Paul Bishop in California Corporate & Securities Law blog
Even though the federal statute is named the Investment Advisers Act of 1940, persons regulated by that act often refer to themselves as “advisors” and not “advisers”. Which is spelling is correct? [More…]
