Legal Newsline

Wednesday, April 8, 2020

SEC, state securities administrators sign pact to monitor new crowdfunding rules

By Mark Iandolo | Mar 1, 2017

General court 02

WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) announced Feb. 17 that it had signed an information-sharing agreement with the North American Securities Administrators Association (NASAA).


The agreement was signed by SEC acting chairman Michael S. Piwowar and Mike Rothman, Minnesota commissioner of commerce and president of NASAA, which represents state securities administrators.


“The agreement not only builds on an already productive relationship between the SEC and state regulators, it also offers additional insights and protections as we help companies grow and create jobs while providing new opportunities to investors,” Piwowar said.


The agreement will help in the sharing of information to assess whether new rules about intrastate crowdfunding offerings are serving their intended purposes. The agreement between the two organizations will allow federal and state forces to work together on the issue and safeguard against fraud.


“This agreement will strengthen collaboration among state and federal securities regulators to help expand small-business investment opportunities while also protecting investors,” Rothman said. “Ongoing dialogue is essential to carry out our responsibilities going forward. With this MOU in place, we have an opportunity to share information that will bolster our efforts to support small business capital formation and prevent fraud."

Want to get notified whenever we write about U.S. Securities and Exchange Commission ?

Sign-up Next time we write about U.S. Securities and Exchange Commission, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

U.S. Securities and Exchange Commission