June 10, 2016

The First Form 1-Ks Are Filed!

Hat tip to Bjorn Hall of Fundrise for letting me know that the Fundrise Real Estate Investment Trust, LLC (which they lovingly call the “Income eREIT”) filed the first-ever “Annual Report on Form 1-K” back in late April. Under Rule 257(b)(1) of Regulation A, Form 1-K is the annual report now required to be filed by Tier 2 companies that conducted their offerings under Regulation A+. The form is due within 120 calendar days of fiscal year covered by the report. Only Tier 2 companies are required to file a Form 1-K, one of trade-offs for not having to register with the states. Since Fundrise made their filing back in late April, there have been four other Form 1-Ks filed.

And as noted in this blog, the OTC Markets has filed a rulemaking petition with the SEC to open Regulation A+ to reporting issuers..

When I served in Corp Fin in the mid-90s, I was tasked for a while with reviewing novel products created by investment banks. Back then, that was handled out of one of the normal Operations groups – now that is done under Amy Starr’s “Office of Capital Market Trends.” Anyway, I wound up looking at some weird stuff and found out that there is even something called a “Form 1” filed with the SEC. That is the form that stock exchanges file to be registered with the SEC as an exchange…

ISS Responds to Proposed Proxy Advisor Legislation

Last week, I blogged about a statement from Glass Lewis about the proposed House bill that would enhance proxy advisor oversight. Now Ning Chiu has blogged about a statement from ISS on the proposed bill…

Dodd-Frank Repeal: Details of the “Financial CHOICE Act”

On Monday, I blogged about the efforts by the GOP in Congress to repeal Dodd-Frank. As laid out in this blog, the details of the “Financial CHOICE Act” have been unveiled by House Financial Services Committee Chair Jeb Hensarling.

See this report about the revolving door between the staff of the House Financial Services committee and the financial industry…

Broc Romanek