【bus from washington dc to blacksburg va】U.S. SEC eases crowdfunding rules for firms due to coronavirus disruption
By Katanga Johnson
WASHINGTON,bus from washington dc to blacksburg va May 4 (Reuters) - The U.S. Securities and Exchange Commission (SEC) on Monday said it would provide relief to smaller firms seeking to raise capital via online platforms to meet "urgent funding needs" due to the coronavirus-related disruption.
The SEC's measure seeks to temporarily amend existing crowdfunding requirements but only if a company meets "the enhanced eligibility requirements" while providing "clear, prominent disclosure to investors about its reliance on the relief," which will apply to offerings launched between the effective date of the temporary rules and Aug. 31, the agency said.
The regulator in March proposed allowing smaller, private companies to access more capital before they meet a requirement to register with the agency - a lengthy and costly process.
At that time, some investor advocates expressed worries that even the stricter rules now in effect were not enough to encourage robust disclosure.
The agency has previously issued relief to address concerns by public companies and investment firms.
Monday's measure exempts issuers who have offered between $107,000 and $250,000 in securities within a 12-month period from an independent auditor review requirement of financial statements, the agency said.
Issuers that have been organized and operated for at least six months prior to the commencement of the crowdfunding offering are also eligible for the agency's conditional relief. Firms must also have issued securities under the agency's current Regulation Crowdfunding offering rules in the past, the agency said.
Issuers may only initiate crowdfunding after filing offering statements, but the firms' financial statements may be initially omitted, the agency said.
"In the current environment, many established small businesses are facing challenges accessing urgently needed capital in a timely and cost-effective manner," SEC Chairman Jay Clayton said in a statement.
"Today's action responds to feedback we have received from our Small Business Capital Formation Advisory Committee and others about the difficulties these companies may face in conducting an offering within a time frame that meets pressing capital needs, while continuing to provide appropriate protections for investors." (Reporting by Katanga Johnson Editing by Paul Simao)
View comments
(责任编辑:Leisure)
- This Day In Market History: Buffett's $3B GE Bet
- 17 Tips To Live Comfortably Off Just a Social Security Check
- Uber in advanced talks to sell air taxi unit: Axios
- Companies slammed by coronavirus look to cut contributions to their employees' 401(k)s
- SHAREHOLDER ALERT: TUFN EHTH R: The Law Offices of Vincent Wong Reminds Investors of Important Class Action Deadlines
- China Is Reopening Its Wet Markets. That's Good
- Argentina teeters on the brink of ninth default
- Intrepid Congratulates East Plant Employees on Record Monthly Domestic Sales Volumes in April
- Broadcom Inc. (AVGO) Stock Moves -1.58%: What You Should Know
- Spotify Rolls Out Standalone Streaming On Apple Watch App: TechCrunch
- HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Crown Castle (CCI) Investors Who Have Suffered Losses to Contact its Attorneys: Securities Fraud Case Filed
- Apple's New Deal With Amazon Prime Video Is a Game Changer
- Want to land one of today's record-low mortgage rates? Follow these 4 tips
-
LOS ANGELES, June 01, 2020 (GLOBE NEWSWIRE) --The Law Offices of Frank R. Cruzreminds investors of t ...[详细]
-
ECB working on lending scheme for coronavirus-hit SMEs -sources
FRANKFURT, March 3 (Reuters) - The European Central Bank is working on measures to provide liquidity ...[详细] -
What Is MDU Resources Group's (NYSE:MDU) P/E Ratio After Its Share Price Tanked?
Unfortunately for some shareholders, theMDU Resources Group(NYSE:MDU) share price has dived 32% in t ...[详细] -
NEW YORK, NY / ACCESSWIRE / March 4, 2020 /The Law Offices of Vincent Wong announce that class actio ...[详细]
-
SAN FRANCISCO, CA / ACCESSWIRE / April 3, 2020 /Hagens Berman urges investors in VMware, Inc.(VMW)wh ...[详细]
-
Here is Why Growth Investors Should Buy Brinker International (EAT) Now
Growth investors focus on stocks that are seeing above-average financial growth, as this feature hel ...[详细] -
Ireland to replace British travel ban with stricter testing - minister
DUBLIN, Jan 1 (Reuters) - Ireland plans to end a ban on travel to the country from Britain on Jan. 6 ...[详细] -
Monthly Outlook – January 2020
This article was originally published onETFTrends.com.To Reflate or StagnateOverviewEven as economic ...[详细] -
Exxon CEO sticks to spending targets as oil prices tumble
By Jennifer Hiller and Shariq KhanNEW YORK (Reuters) - Two years into an ambitious growth plan to re ...[详细] -
Plastic Additives Market - Growth, Trends, and Forecast (2020 - 2025)
The plastic additives market is expected to witness a healthy growth, at an estimated CAGR of around ...[详细]
Skeljungur hf.: Changes to terms in market making agreements
Snapchat Ousts Trump’s Account From Discover Section
- Wisconsin Father Hits 500,000 Push-up Milestone on the Path to Break World Record
- CanWel Building Materials Group (TSE:CWX) Shareholders Have Felt Some Pain With A 19% Loss On Their Investment
- MERGER INVESTIGATION ALERT: Halper Sadeh LLP Encourages CKH, PS, WDR, and EIDX Shareholders to Contact the Firm
- Castlebar Capital Corp. Announces Termination of LOI Respecting Qualifying Transaction
- Ra Medical Systems, Inc. to Host Earnings Call
- Natural Gas Price Fundamental Daily Forecast – Crushed by ‘Exceptionally Comfortable’ Temps Ahead of EIA Data
- Tokyo Stock Exchange Halts Trading For Entire Day Over Technical Glitches