July 7, 2015

Proxy Disclosure Awards: Vote Now!

It’s time to vote! Thanks to the many who submitted nominations – it was hard to pare those down (& apologies to those that didn’t get their candidates onto our final slate). I tried to limit the number of nominees to three for each category – but sometimes that was challenging because we had so many candidates submitted for certain categories. Folks are proud of their executive summaries!

Please take a moment to vote for these 12 categories of awards. Voting is anonymous – and ends on Friday, July 24th. Here’s the FAQs

The First Wave of Form 1-As? Fairly Low Quality

In this blog, Steve Quinlivan points to a CrowdCheck blog that claims that 5 of the 6 initial Form 1-As have been “withdrawn.” As Steve notes, Corp Fin is gonna have it’s hands full with defective filings since the form is so new – and many of these forms are filed by do-it-yourseflers.

As to what “withdrawn” means, I haven’t a clue. A quick scan of the table of contents of the SEC’s EDGAR Filer Manual doesn’t address this topic. And I know it’s pretty hard to get the SEC to remove things from EDGAR. My guess is that perhaps they weren’t really deleted from EDGAR – but I doubt there was a “withdrawn” notation of some sort either. Any ideas?

My favorite Form 1-A so far was filed by Weed Real Estate, which proposes to lease property to companies engaged in the marijuana business. In a few months, we’ll be conducting a webcast on emerging Reg A practices…

The SEC’s Investor Advocate’s Latest Objectives

Here’s a new 52-page report of the SEC’s Office of Investor Advocate’s objectives for ’16. Pages 29-35 summarize the activity of the Investor Advisory Committee…

– Broc Romanek