A Summary of SEC Commissioner Michael Piwowar’s Remarks on IPOs

By | 04/23/2018 | 11:28 am ET

Introduction At the beginning of his opening remarks in May of 2017, SEC Commissioner Michael Piwowar expressed that he was happy to be involved in the SEC-NYU dialogue in which he shared his views on the IPO market. Piwowar has a thorough background in economics, politics, and finance – including an employment history in economics, a Ph.D. in Finance, a M.B.A., and a B.A. in Foreign Science and International Politics…

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Transition to the T+2 Settlement Cycle

By | 04/23/2018 | 11:19 am ET

Rule 15c6-1(a) – From T+3 to T+2 In March 2017, the Securities and Exchange Commission (SEC) amended Rule 15c6-1(a), shortening the settlement cycle from T+3 to T+2. The “T” in “T+2” and “T+3” stands for transaction date, the date that a transaction occurs. T+ (1, 2 or 3) represents the settlement date, the date that ownership of the stock is transferred. Thus, with this rule change, companies now have two…

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OTC Markets’ New Stock Promotion Policy

By | 03/30/2018 | 1:26 pm ET

On November 7th, the OTC Markets Group released a new stock promotion policy. This policy aims to improve the overall market transparency for investors, while addressing the issue of misleading, manipulative, or fraudulent stock promotion. Fraudulent Promotional Campaigns The wide use of digital media has allowed companies to interact and reach investors in a variety of new and different ways. While this can be beneficial by allowing companies to reach…

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