The U.S. House of Representatives passed the Expanding Access to Capital Act of 2023 in a party line vote. The bill is intended to build on the JOBS Act of 2012 by reducing the regulatory burdens on certain capital raising transactions.
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An investment adviser settled charges with the SEC for failing to timely disclose the adviser's "control" purpose, with respect to an issuer whose shares it had acquired for the account of a hedge fund that it managed.
In its "Review of the 'Accredited Investor' Definition," a report required under Dodd-Frank, the SEC considered the evolution of the definition of the term "accredited investor," and cited statistics detailing how the impact of the definition has changed over time.
A broker settled FINRA charges for distributing research notes to sales and trading personnel, and select customers, in advance of the publication of the official research report.
A broker-dealer settled charges with FINRA for failing to file required information in connection with private placement offerings sold to retail investors.