Nallengara Appointed Acting Director of SEC Corporation Finance

Last week, on her first day as new SEC Chair, Elisse B. Walter named Lona Nallengara as Acting Director of the Division of Corporation Finance, to replace Meredith Cross who announced earlier this month that she’s returning to private law practice at year end. Mr. Nallengara is an SEC staffer, a top deputy of Cross’ ...

New Year’s Wishes for Smallcap World for 2013 1

For now the 6th year in a row I’m happy to throw out my wish list for the small and microcap world and those into alternatives to a traditional IPO to go public. As always I want to give special thanks to my faithful blogees especially in this, a challenging year for many of us. The ...

Decimalization Issue Not Dead

We learn from The DealFlow Report that the SEC has scheduled a roundtable on the issue of decimalization of stock prices, which may include discussion of possible pilot programs to try different plans to increase “tick sizes” between bid and ask prices in the markets. The Jumpstart our Business Startups (JOBS) Act required the SEC ...

Head of SEC Corp. Fin. Meredith Cross Leaving

In the latest in a series of high level departures, Director of the SEC’s Division of Corporation Finance, Meredith Cross, announced Tuesday that she is leaving the SEC by the end of the year. There is no successor or interim director appointed yet that we know of. This follows the announcement of SEC Chair Mary ...

Flash: SEC Charges Top CPA Firms with Securities Violations re China 1

The Securities and Exchange Commission today announced that it is charging affiliates of the “big four” accounting firms (as well as BDO) with securities violations for failing to turn over work papers regarding audits they conducted of Chinese companies owned by US public companies. The SEC and the Public Company Accounting Oversight Board (PCAOB), which ...

Crowdfunding Rules Could be Delayed

We learn from today’s DealFlow Report that many are saying it could be a year or more before the SEC releases the much-awaited rules under the Jumpstart our Business Startups (JOBS) Act which will hopefully unleash a torrent of small equity financings through crowdfunding. Technically, the JOBS Act requires the SEC to deliver those rules by ...

SEC Chair-Designate Elisse Walter Could Remain for a Year or More

There has been a minor hubbub about what exactly SEC Commissioner Elisse Walter was appointed as following the planned resignation of current Chair Mary Schapiro. First the White House said she would be the “designated” Chair, not interim or acting, while the President looks for someone else (he has the right to appoint the Chair). ...