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I would like to follow the development of the regulations so as to better understand them when they are finalized. How/where can I follow the developing SEC's regulations related to the JOBS bill? Are they developing those regulations behind closed doors, or do they publish their decisions incrementally? |
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The most likely scenario is that the SEC will issue a interim report to solicit comments and then a final. Based on the need for their to be a process for regulating the intermediaries who are not broker/dealers-- there is a possibility that a decision about a SRO (self-regulating organization) or the use of FINRA as the SRO may come earlier and independent of the primary set of rules. There are several new organizations that have emerged which have active representation in the conversations. Several of these are positioning themselves to be "trade association" type organizations, that are taking an active role is promoting specific interpretations to specific aspects of the legislation. The rule making process is independent of the legislative process, unless they have dedicated specific staff to the process -- your Congressional Representative will not be seing anything more than you can. The best three that I have found so far (see disclosure below): CrowdSourcing.org: They are actively promoting companies and portals in the field. they have the broadest engagement. They have been hosting weekly live chats to discuss the reports comming out of the SEC process. National Crowd Funding Association: This emerging trade association has a growing membership list. They have a SEC working committee, provide members regular updates, have a lawyer in the room, and have a conference planned in Washington DC to overlap the release of the interim report prior to the final decisions. Here is the link to their SEC Committee page: here Crowdfund Intermediary Regulatory Advocates (CFIRA): Website LinkedIn Group These guys are also membership-based. They are strongly advocating on behalf of entities who would like to be intermediaries. I havn't figured out them yet. Obviously one of the other places to get updates is at the SEC themselves. They are currently soliciting imput on the act here. Disclosure: -- My new company and I are either a member or sponsor of the mentioned/cited organizations. ) |
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