Latest news with #JOBSAct
Yahoo
22-04-2025
- Business
- Yahoo
5 Ways the SEC Can Embrace Innovation
The U.S. Securities and Exchange Commission has long been the world's most influential financial regulator, helping to ensure our capital markets are the deepest, fairest, and most accessible in the world. But its continued relevance will depend on whether it can do more than merely respond to innovation — it must proactively foster it. For nearly a century, the SEC has adapted to evolving markets, new technologies and greater retail participation. In its best moments, the agency has embraced innovation in service of transparency, investor protection, and capital formation. But in recent years, it has strayed from that legacy — nowhere more visibly than in its approach to crypto and good news is, with a change in leadership and a more open posture emerging, the SEC has a chance to course-correct. But the bigger question is: how do we make that change permanent? How do we build innovation into the SEC's DNA so that the next promising financial technology isn't strangled in its crib? I spent nearly six years at the SEC, first as a Senior Counsel in the Division of Enforcement and then as Chief Counsel in the Office of Legislative and Intergovernmental Affairs. I've since held senior legal and policy roles in crypto firms across the ecosystem. From both perspectives, one thing is clear: the SEC can fulfill its mission more effectively — and maintain its global leadership — only if it becomes a proactive partner in financial innovation. The SEC has a proud history of embracing change to the benefit of investors and markets alike. In the 1990s, it digitized corporate filings through EDGAR, replacing paper documents with searchable databases. It later approved Regulation ATS, enabling the rise of alternative trading systems that increased competition and liquidity. ETFs, which were once novel, are now mainstream products that offer low-cost, diversified exposure to a wide range of assets. More recently, fractional-share trading has empowered millions of retail investors to own a slice of companies they once could only admire from afar. One especially relevant example as the SEC thinks about how to regulate crypto is the agency's treatment of asset-backed securities. In the 1980s and 1990s, the SEC recognized that these complex financial products didn't fit neatly into existing disclosure regimes. After years of study and no-action letters, it developed a tailored disclosure framework in 2004 — refined further in 2014 — that balanced innovation with investor protection. And it didn't need to bring hundreds of enforcement actions to do it. There are also times the SEC failed to adapt, to the detriment of both investors and markets. It was slow to respond to the rise of high-frequency trading, contributing to the 2010 Flash Crash. It took years to implement the crowdfunding rules authorized by the JOBS Act. It lagged on digital reporting standards, delaying broader access to market data. And, for much of the last few years, its stance on crypto veered from caution to outright hostility. Instead of issuing clear rules for digital assets, the agency pursued a scattershot enforcement campaign — often against firms that were seeking to comply in good faith. Many of these actions didn't even involve fraud or investor loss. Meanwhile, American crypto companies fled overseas, and a global industry flourished without us. Even the SEC's grudging approval of spot bitcoin ETFs in 2024 came only after it was forced by a federal court. And while the agency at one point talked about creating a crypto disclosure framework akin to what it did for ABS, it never followed through. Crypto may be new, but the SEC has faced this challenge before. It knows how to modernize its rules to meet new realities. What's different now is the opportunity to leverage innovation — not just regulate it. Take blockchain technology. It could enable near-instant trade settlement, reducing risk and freeing up capital. It could improve market transparency through immutable records and real-time transaction data. It could lower operational costs by reducing intermediaries. And tokenization could expand access to private markets and hard-to-reach asset classes, benefiting both issuers and investors. Ironically, the SEC hasn't seriously explored how blockchain could improve its own market oversight. That's a missed opportunity. But it's not too late. So what would it look like to build innovation into the SEC's core mission? Revise the SEC's Mandate: Congress should amend the Securities Exchange Act of 1934 to explicitly include the promotion of innovation and modernization, alongside investor protection, market integrity, and capital formation. Rethink Metrics of Success: The SEC shouldn't measure success solely by the number of enforcement actions or penalties collected. It should also look to capital formation, investor confidence, and the safe adoption of new technologies. Create an Innovation Office: A dedicated, empowered team should engage with entrepreneurs, technologists, and academics to guide responsible innovation — just as similar offices in the U.K. and Singapore have done. Adopt Risk-Based Regulation: Not every new product or platform needs full regulatory treatment on day one. Pilot programs, safe harbors, and regulatory sandboxes can help innovators test ideas while maintaining appropriate guardrails. Invest in Education and Training: SEC staff need better fluency in emerging technologies. Cross-disciplinary expertise should be rewarded and cultivated. These are not radical ideas — they are proven tools drawn from the SEC's own playbook. In a global race to define the future of finance, the SEC has a choice: lead or fall behind. Its greatest strength has always been its credibility and ability to adapt. The next generation of investors and entrepreneurs won't wait around for 20th-century rules to catch up to 21st-century innovation. Nor should they have to. If the SEC wants to remain the gold standard, it must adapt once again — not just to the present, but to what comes in to access your portfolio
Associated Press
02-04-2025
- Business
- Associated Press
Entrex Florida Market Files SEC No Action Letter to Solidify Compliance
Entrex has submitted a 'No Action Letter' request to the SEC seeking confirmation of the regulatory compliance of the Entrex Florida Market. Entrex (OTCBB:RGLG) 'Credibility is central to our mission. We validate companies and ensure that market participants can trust our platform's compliance with regulatory standards.' — Trip Thomas BOCA RATON, FL, UNITED STATES, April 2, 2025 / / -- Entrex (OTC: RGLG) is pleased to announce it has submitted a 'No Action Letter' request to the U.S. Securities and Exchange Commission (SEC). This request seeks confirmation of the regulatory compliance of the operating system used by the Entrex Florida Market ( 'Throughout our operational history, Entrex has engaged proactively with regulators and administrators,' stated Stephen H. Watkins, CEO of Entrex Florida Market. 'Our commitment to transparency and compliance has been fundamental to our contributions to Senate Testimony and discussions with key policymakers, including a meeting with President Obama at the White House discussing and establishing the foundation of the JOBS Act.' Thomas Harblin, Partner at Entrex Florida Market, emphasized the importance of regulatory clarity as the platform's activity escalates. 'As brokers, corporate issuers, and institutional investors increasingly engage with our market, it's imperative to affirm that our operations and securitizations adhere to a standard similar to that of larger public securities exchanges.' Trip Thomas, shareholder and founding member of Entrex Florida Market, highlighted the significance of market credibility. 'Credibility is central to our mission. It's crucial not only to validate the integrity of the companies on our platform but also to ensure all market participants can trust in a regulatory-compliant environment.' Watkins further underscored the commitment to establishing a robust foundation for the market. 'Our goal is to build a credible and stable marketplace for private companies. As we solidify this foundation, we are also developing the Florida Private Company Index, which aims to provide investors with diversified access to the vibrant growth of Florida's private sector.' ________________________________________ The Entrex Florida Market: Entrex Florida Market offers a regulatory-compliant platform for trading securities of private Florida-based companies. Utilizing innovative technology and a robust legal framework, Entrex facilitates a dynamic marketplace where investors can find, research, track, manage, and trade in the private sector effectively and securely. Learn more at Stephen H. Watkins, CEO Entrex Florida Market, LLC (OTC:RGLG) (561) 465 7454 or 877-4-ENTREX Stephen Watkins Entrex Florida Market +1 561-465-7454 Legal Disclaimer:
Yahoo
01-04-2025
- Business
- Yahoo
Newsmax Begins Trading on NYSE Under Ticker Symbol "NMAX"
BOCA RATON, FL / / March 31, 2025 / Newsmax Inc. ("Newsmax" or the "Company") announced that its Class B Common Stock will begin trading this morning on the New York Stock Exchange under the symbol "NMAX". The Company successfully raised $75 million in its initial public offering under Regulation A+ as well as $225 million in a private Preferred Offering which closed in February. Digital Offering LLC acted as the lead selling agent for the Public Offering. For more information on Newsmax, please visit: About Newsmax Newsmax Inc. is a holding company that owns 100% of the equity interests of its operating company Newsmax Media, Inc. Newsmax Media, Inc. is the parent company of Newsmax Broadcasting LLC and a multimedia company that offers Americans independent news. Since its founding in 1998 by Christopher Ruddy, an award-winning journalist, Newsmax has become a go-to place for Americans seeking real news and opinion. Newsmax operates the Newsmax channel, now the fourth highest-rated cable news channel, according to Nielsen, and available on all major cable systems and OTT platforms. Newsmax's media properties reach more than 40 million Americans regularly through the Newsmax channel, its free streaming channel Newsmax2, the Newsmax App and its streaming service Newsmax+, its website and publications like Newsmax Magazine. Forbes calls Newsmax "a news powerhouse." Last year the Reuters Institute study found that Newsmax was one of the top 12 U.S. news brands. Through its media outlets Newsmax champions a free press, one that provides Americans with balanced coverage, diverse viewpoints, and open debates on the issues affecting our lives. Newsmax Inc., based in Boca Raton, Fla., with offices in Washington, D.C. and New York City, is a privately held company headed by its CEO and majority shareholder Christopher Ruddy. For more information about Newsmax, please visit About Digital Offering, LLC: Digital Offering, LLC, a leader in crowd financed public offerings, is a next generation investment bank with a focus on technology and innovation utilizing The Jumpstart Our Business Startups Act, or JOBS Act. Investor ContactsNewsmax Investor Relations Teamir@ FORWARD-LOOKING STATEMENTS: This communication contains forward-looking statements. The Company bases these forward-looking statements on its expectations and projections about future events, which it derives from the information currently available to it. Such forward-looking statements relate to future events or its future performance, including: its financial performance and projections; growth in its revenue and earnings; and the Company's business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," or "hopes" or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: the Company's ability to change its direction; its ability to keep pace with new technology and changing market needs; and the competitive environment of its business. These and other factors may cause the Company's actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this communication may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about the Company. The Company is not obligated to publicly update or revise any forward-looking statement. SOURCE: Newsmax Inc. View the original press release on ACCESS Newswire
Axios
17-03-2025
- Business
- Axios
SEC makes solicitation easier for VC and private equity
The SEC has issued new general solicitation guidance that makes the process much less onerous for private equity and venture capital. The big picture: We may not see Times Square billboards advertising new funds, but it's at least theoretically possible. Firms also would be able to discuss fundraising efforts with reporters. Catch up quick: The Obama administration had tried to open the floodgates to general solicitation in 2012, via the JOBS Act, but it never really caught on. A major impediment was how fund managers were required to verify that their investors were accredited. The SEC provided several examples, but didn't say if the list was inclusive or exclusive — so the process became layered (i.e., lengthy and expensive) out of an abundance of legal caution. Some firms also worried that prospective investors would balk at the intrusive questions, and an unvirtuous cycle was created whereby general solicitation became synonymous with desperation. Fast forward: SEC commissioner Hester Peirce last fall gave a speech in which she lamented the underutilization of 506(c) offerings, which are the type that allow general solicitation. Attorneys at Latham & Watkins took notice. They'd long felt that the original SEC guidance might have been misinterpreted, in that investor verification should be satisfied by little more than a minimum investment commitment. And now a new, more biz-friendly administration was about to take charge. The law firm's discussions with SEC officials resulted in a March 12 letter that read, in part: "We agree that a high minimum investment amount is a relevant factor in verifying accredited investor status." State of play: Firms now have much more flexibility in using 506(c) for fund offerings, or even transitioning existing efforts from the traditional 506(b) process. If they do so, they can publicly discuss the offerings with reporters or even advertise them. One caveat is for firms raising from investors outside the U.S., since other countries have their own securities rules. In some cases, there could be additional restrictions.
Associated Press
17-03-2025
- Business
- Associated Press
Digital Offering, LLC Announces Specialty Finance Division
Appointment of Richard Nunis LAGUNA BEACH, CA / ACCESS Newswire / March 17, 2025 / Digital Offering, LLC ('Digital Offering'), a FINRA member and leading boutique investment bank that provides companies with capital raising and corporate & strategic advisory services, today announced the creation of the Specialty Finance Division that will focus on equity, debt and mezzanine financing for emerging companies. Further, as part of the new division, the Company is pleased to announce the hiring of Richard Nunis as a Vice President. Digital Offering is a leader in crowd financed public offerings, and a next generation investment bank with a focus on technology and innovation utilizing The Jumpstart Our Business Startups Act, or JOBS Act. Digital Offering just completed a $225 million private placement for Newsmax Inc. from over 8,000 investors, one of the largest Reg D 506 (c) offerings to date under the JOBS Act. By combining Digital Offering's crowd finance methodology with nontraditional specialty finance, Digital Offering can provide full-service capital solutions to its clients. 'We are pleased to welcome Richard to Digital Offering as he expands our capabilities to include Commercial Lending while strengthening our overall Capital Markets capabilities,' commented Digital Offering CEO, Gordon McBean. 'While larger banks continue to be hampered by regulatory constraints and are forced to curtail their lending capabilities, Digital Offering aims to provide our customers with the ability to fill this void left in the marketplace.' Mr. Nunis brings additional advisory and capital markets capabilities to Digital Offering with the primary responsibility of expanding the specialty finance platform for Digital Offering. He will focus on raising Debt, Equity and Mezzanine Financing for emerging growth companies. Mr. Nunis brings his vast network of clients and expertise with him to Digital Offering. His clients include family offices, private equity firms, hedge funds and high net worth individuals, among others. Prior to joining Digital Offering he served in institutional equity and debt sales at Roth Capital Partners. About Digital Offering Digital Offering, LLC ('Digital Offering') is a next-generation investment bank and a leader in crowd-financed public offerings. The firm partners with high-quality private and public growth companies to access U.S. capital markets and achieve their growth objectives. With a strong focus on technology and innovation, Digital Offering applies traditional investment banking best practices to the Jumpstart Our Business Startups (JOBS) Act to maximize deal awareness and connect issuers with the right investors. Digital Offering's principals have played a key role in shaping the framework for Regulation A+ crowd-financed offerings, leading the first successful Reg A+ IPO to list on a National Securities Exchange, the New York Stock Exchange, with other Reg A+ offerings following the blazing trail. Interested parties can learn more at Contact: CEO
