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The ABA Federal Regulation of Securities Committee submitted a comment letter to the SEC on crowdfunding. Because the SEC has not yet issued any proposed regulations concerning crowdfunding, the Drafting Committee took an expansive view of what the SEC might propose and offered 15 principal recommendations on the various issues potentially arising in connection with Title III (Crowdfunding) of the JOBS Act. Many of the recommendations are requests that the SEC "clarify" a point, "provide guidance," or "consider" an issue. Once regulations are actually proposed by the SEC, the Committee expects

The SEC is adopting revisions to the Electronic Data Gathering, Analysis, and Retrieval System (EDGAR) Filer Manual and related rules to reflect updates to the EDGAR system. The revisions are primarily to support submission of Confidential Registration Statements; require Form ID authentication documents in PDF format; automate LTID generation for Large Trader registrations; support minor updates to Form D; remove superseded XBRL Taxonomies; remove the OMB expiration date from Form TA-1, TA-2, TA-W, 25-NSE; and request of unused funds. Note that the changed requirements are relevant to a broad

The U.S. Court of Appeals for the District of Columbia Court rejected a challenge to SEC Regulation A+ by Montana and Massachusetts regulatory authorities.

The SEC order approving the FINRA-proposed rule change to simplify and refine the scope of FINRA Corporate Financing Rules 5110("Corporate Financing Rule - Underwriting Terms and Arrangements") and 5121("Public Offerings of Securities with Conflicts of Interest") was published in the Federal Register. See: 79 FR 24802 . Related news: SEC Approves Proposed Amendments to FINRA Corporate Financing Rules (April 29, 2014); FINRA Proposes Rule Change to Simplify and Refine the Scope of Corporate Financing Rules (January 9, 2014).