Doug Cornelius on compliance for private equity real estate
On Monday, the new SEC Rule 506(c) became effective, lifting the ban on general solicitation and advertising, creating a new era of public private-placements. These are some of the stories on the effect of the new the rule that caught my attention. Pros and Cons of General Solicitation by Joe Wallin in Startup Law Blog … Read more »
In a head-scratching move, the Securities and Exchange Commission has created a portal for you to voluntarily submit general solicitation materials for private placements. With Rule 506(c) now in effect, companies are free to advertise their private placements of securities, so long as the company takes reasonable steps to ensure that investors are accredited investors. … Read more »
The Securities and Exchange Commission’s new Rule 506(c) goes into effect today, lifting the ban on general solicitation and advertising. Fund managers, start-ups, and established companies can make public, their private placements of securities. That is both a good thing and a bad thing. It’s good because start-ups can now pitch their products to potential … Read more »
These are some of the compliance-related stories that recently caught my attention. An entrepreneur who, come September 23, will not be tweeting for investors by William Carleton And not for concern that SEC proposed rules would impose pre-filing, information filing and other requirements. No, he was looking only at that “price” 506(c), the actual … Read more »
There has always been a tension between regulating the capital markets to protect the public and making capital formation more efficient. While I was focusing on Tuesday’s meeting SEC Advisory Committee on Small and Emerging Companies discussing changes to private placements, the SEC passed another rule that smacks public companies. Now public companies need to … Read more »
Fredrick Douglas Scott was named one of Ebony magazine’s “Top 30 under 30”, claiming to be the youngest African-American to found a hedge fund. In April 23, 2012, his company, ACI Capital Group, filed a Form ADV showing $3.7 billion in assets under management. It was a lie and Mr. Scott is a thief. Perhaps … Read more »
Had it not been for Bernie Madoff, Marc Dreier would likely have been the most notorious fraudster of recent memory. The press coverage was stolen away from Mr. Dreier’s $3/4 billion scam by the billions Madoff stole. But Dreier’s theft was much more brazen and a lot crazier. Over the weekend, between shuttling the kids … Read more »
These are some of the compliance-related stories that recently caught my attention Embattled J.P. Morgan Bulks Up Oversight by Monica Langley and Dan Fitzpatrick in the Wall Street Journal J.P. Morgan Chase & Co., facing a host of regulatory and legal woes, plans to spend an additional $4 billion and commit 5,000 extra employees this … Read more »
If someone approaches you about investing in a Prime Bank investment program, walk away. Do not give them your time or money. It’s a scam. There is an undercurrent of distrust in the financial markets, thinking that the big players have some secret way to make massive amounts of money with no risk. What better … Read more »
The September 11 attacks resulted in the deaths of 2,996 people, including the 19 hijackers and 2,977 victims. The victims included 246 on the four planes, 2,606 in New York City in the World Trade Center towers and on the ground, and 125 at the Pentagon. Nearly all of the victims were civilians. 55 military … Read more »