Earlier this week, in Liu v. SEC, the Supreme Court held that the SEC may seek "disgorgement" from a wrongdoer in a civil action, but only to the extent of the net profits from a violation and the award must benefit the victims. Unlike several other recent…
In my last post, I argued that the SEC's "accredited investor" definition, which prevents investors who make less than $200,000 a year or who are worth less than $1 million from investing in private securities offerings, should be eliminated from our securities laws. Under its current definition,…
The SEC's "accredited investor" definition bars investors who earn less than $200,000 a year or have a net worth less than $1 million from taking part in private securities offerings. It's a definition even its mother no longer loves: SEC Commissioner Elad Roisman says it "stands between…
Thanks to COVID-19, most of the financial business in the United States that was previously being done on-site is now being conducted virtually: financial markets are open, investment continues, and public companies continue to report. Normally, virtual business and certain securities law requirements, such as manual signatures,…
Amid all the uncertainty surrounding the coronavirus crisis, the CMFA is glad to have some good (and timely) news to share: we've added a new expert to our full-time policy staff. Jennifer Schulp joins Cato as the CMFA's director of financial regulation studies, where she will work…