Buy Small Business Stock in 2013 – No Capital Gains Tax!

The newly passed “avoid the fiscal cliff” bill, known as the American Taxpayer Relief Act of 2012, had an important provision that many seem to have overlooked. An exemption from all federal capital gains tax for qualifying “small business stock” (under Section 1202 of the Internal Revenue Code) was restored after being taken away in 2011, at ...

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 ...

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). ...

Flash: Schapiro Stepping Down as SEC Chair

SEC Chairman Mary Schapiro announced this morning that she is leaving her job effective December 14. This was widely expected. The short span from announcement to departure was not as widely expected. Rumors floating name a Treasury undersecretary as a possible replacement. In the meantime, SEC Commissioner Elisse Walter will serve as interim SEC Chair, said the ...

Highlights from SEC Small Business Conference Part I

I am headed back to the soggy Big Apple following the SEC’s annual small business conference. If you’re waiting for the big news, there really wasn’t any. But there was useful and interesting discussion and, as always, some good recommendations made by the attendees. Here are a few tidbits in several blog entries: 1. SEC ...

Meet Me at the SEC Small Business Conference

I head down to our nation’s capital later this week for the annual SEC Government-Business Forum on Small Business Capital Formation, which the Commission has gathered since 1982 when Congress mandated it take place. We listen to SEC Commissioners and interesting panelists and then break into workshops to develop recommendations for the staff and Commissioners. The ...