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2020-05-12
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Facilitating Capital Formation and Expanding Investment Opportunities by Improving Access to Capital in Private Markets
Part II
Proposed Rules
D09002ee1bdb5b610
D09002ee1bdb5b6c5
United States
Securities and Exchange Commission
originator
org
United States Government Agency or Subagency
The Securities and Exchange Commission is proposing amendments to facilitate capital formation and increase opportunities for investors by expanding access to capital for entrepreneurs across the United States. Specifically, the proposed amendments would simplify, harmonize, and improve certain aspects of the exempt offering framework to promote capital formation while preserving or enhancing important investor protections. Over the years, and particularly since Congress passed the Jumpstart Our Business Startups Act of 2012, the Commission has introduced, expanded, or otherwise revised a number of exemptions from registration. The proposed amendments seek to address gaps and complexities in the exempt offering framework that may impede access to investment opportunities for investors and access to capital for issuers.
85 FR 17956
https://www.govinfo.gov/app/details/FR-2020-03-31/2020-04799
2020-04799
fr31mr20-26
RIN 3235-AM27
8011-01-P
Release Nos. 33-10763
34-88321
File No. S7-05-20
https://www.govinfo.gov/app/details/FR-2020-03-31/2020-04799
https://www.govinfo.gov/content/pkg/FR-2020-03-31/html/2020-04799.htm
https://www.govinfo.gov/content/pkg/FR-2020-03-31/pdf/2020-04799.pdf
Crowdfunding
Reporting and Recordkeeping Requirements
Securities
Administrative Practice and Procedure
Advertising
Confidential Business Information
Investment Companies
Brokers
Fraud
Life Insurance
Electronic Funds Transfer
96 p.
17956
18051
85 FR 17956
Code of Federal Regulations
Title 17 Part 227
17 CFR Part 227
Code of Federal Regulations
Title 17 Part 229
17 CFR Part 229
Code of Federal Regulations
Title 17 Part 230
17 CFR Part 230
Code of Federal Regulations
Title 17 Part 239
17 CFR Part 239
Code of Federal Regulations
Title 17 Part 249
17 CFR Part 249
Code of Federal Regulations
Title 17 Part 270
17 CFR Part 270
Code of Federal Regulations
Title 17 Part 274
17 CFR Part 274
Regulation Identification Number 3235-AM27
RIN 3235-AM27
Facilitating Capital Formation and Expanding Investment Opportunities by Improving Access to Capital in Private Markets; Federal Register Vol. 85, Issue
PRORULE
2020-04799
II
SECURITIES AND EXCHANGE COMMISSION
2020-06-01
Release Nos. 33-10763
34-88321
File No. S7-05-20
8011-01-P
2020-04799
Proposed rule.
The Securities and Exchange Commission is proposing amendments to facilitate capital formation and increase opportunities for investors by expanding access to capital for entrepreneurs across the United States. Specifically, the proposed amendments would simplify, harmonize, and improve certain aspects of the exempt offering framework to promote capital formation while preserving or enhancing important investor protections. Over the years, and particularly since Congress passed the Jumpstart Our Business Startups Act of 2012, the Commission has introduced, expanded, or otherwise revised a number of exemptions from registration. The proposed amendments seek to address gaps and complexities in the exempt offering framework that may impede access to investment opportunities for investors and access to capital for issuers.
Comments should be received on or before June 1, 2020.
Anthony Barone or John Byrne, Special Counsel, Office of Small Business Policy, or Steven G. Hearne, Senior Special Counsel, Office of Rulemaking, at (202) 551-3460, Division of Corporation Finance; Lawrence Pace or Benjamin Kalish, Senior Counsel, at (202) 551-6792, Division of Investment Management; U.S. Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549.
Crowdfunding
Reporting and Recordkeeping Requirements
Securities
Administrative Practice and Procedure
Advertising
Confidential Business Information
Investment Companies
Brokers
Fraud
Life Insurance
Electronic Funds Transfer
rule-comments@sec.gov
http://www.finra.org/investors/highlights/5-things-you-need-know-about-safe-securities-and-crowdfunding
http://www.sec.gov/info/smallbus/acspc/acspcfinalreport.pdf
http://www.sec.gov/info/smallbus/gbfor33.pdf
http://www.sec.gov/rules/proposed.shtml
https://www.crowdcheck.com/blog/buyer-beware-securities-are-not-always-what-they-seem
https://www.crowdcheck.com/blog/compliance-reg-cf-when-failure-becomes-fraud
https://www.finra.org/investors/insights/safe-securities
https://www.sec.gov/advocate/reportspubs/annual-reports/sec-investor-advocate-report-on-activities-2016.pdf
https://www.sec.gov/comments/s7-08-19/s70819.htm
https://www.sec.gov/dera/staff-papers/white-papers/dera_white_paper_regulation_d_082018
https://www.sec.gov/divisions/corpfin/cfannouncements/drsfilingprocedures.htm
https://www.sec.gov/files/2019-sec-government-business-forum-small-business-capital-formation-transcript.pdf
https://www.sec.gov/files/2019_OASB_Annual%20Report.pdf
https://www.sec.gov/files/gbfor36.pdf
https://www.sec.gov/files/regulation-crowdfunding-2019_0.pdf
https://www.sec.gov/files/small-business-forum-report-2019.pdf
https://www.sec.gov/info/smallbus/acsec/acsec-recommendation-051517-secondary-liquidityrecommendation.pdf
https://www.sec.gov/info/smallbus/acsec/acsec-transcript-021517.pdf
https://www.sec.gov/info/smallbus/acsec/sbcfac-transcript-020420.pdf
https://www.sec.gov/info/smallbus/acsec/sbcfac-transcript-111219.pdf
https://www.sec.gov/info/smallbus/gbfor34.pdf
https://www.sec.gov/info/smallbus/gbfor35.pdf
https://www.sec.gov/info/smallbus/gbfor37.pdf
https://www.sec.gov/oiea/investor-alerts-and-bulletins/ib_safes
https://www.sec.gov/rules/proposed.shtml
https://www.sec.gov/smallbusiness/exemptofferings/rega/2020Report
https://www.sec.gov/spotlight/sbcfac/2020-02-04-presentation-pitchbook-venture-climate.pdf
https://www.sec.gov/spotlight/sbcfac/recommendation-harmonization-general-principles.pdf
https://www.sec.gov/spotlight/sbcfac/recommendation-regulation-crowdfunding.pdf
https://www.treasury.gov/press-center/press-releases/Documents/A-Financial-System-Capital-Markets-FINAL-FINAL.pdf
www.sec.gov
Federal Register
Vol. 85, no. 62
Office of the Federal Register, National Archives and Records Administration
2020-03-31
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392 p.
Table of Contents:
AE 2.7:
GS 4.107:
AE 2.106:
KF70.A2
https://www.govinfo.gov/app/details/FR-2020-03-31
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https://www.govinfo.gov/app/details/FR-2020-03-31
https://www.govinfo.gov/content/pkg/FR-2020-03-31/pdf/FR-2020-03-31.pdf
https://www.govinfo.gov/content/pkg/FR-2020-03-31/xml/FR-2020-03-31.xml
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