Press Releases, Industry Alerts

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Industry Alerts

December 18, 2013 – The Securities and Exchange Commission voted to propose rules which they say, are intended to increase access to capital for smaller companies. The rules are mandated by Title IV of the Jumpstart Our Business Startup (JOBS) Act. The SEC’s proposal will undergo a 60-day public comment period after it is published in the Federal Register.

Click here to view SEC Proposal

October 23, 2013 – SEC Announces Meeting to Consider Proposing Rules and Forms Related to the Offer and Sale of Securities through Crowdfunding.

Advertising Allowed for Private Offerings

FAQs: Advertising Private Offerings

Sept. 13, 2013 – NIBA filed its comments on the Advertising and General Solicitation Proposals of the SEC and Accredited Investor Re-Definition. Click here to read letter.

February 1, 2013 – FINRA Rule 2210 Coming Effective February 4, 2013 - Your BD is under new FINRA Rules so “Heads-Up”! The new rules, which become effective on February 4, 2013, are a comprehensive reworking of the approval, filing and content requirements, particularly as to retail communications. The new rules are quite detailed and provide some significant change from the existing rules. You need to understand and comply with these rules.  read more…

January 11, 2013 – American Taxpayer Relief Act Impacts Broad Range of Taxpayers - read more…

December 20, 2012 – FINRA appears to have “backtracked” on Suitability Rule interpretation - In new guidance, FINRA backtracked from an earlier broader interpretation of the rule, which stated that people who were not customers and investment strategies that did not involve securities were covered under the suitability rule.  read more…

November 28, 2012 – SEC Approves New FINRA Rule 5123 Re: Private Placements – The SEC approved new FINRA Rule 5123 to require each FINRA member firm that sells an issuer’s securities in a private placement, subject to certain exemptions, to file with FINRA a copy of any private placement memorandum, term sheet or other offering document the firm used within 15 calendar days of the date of the sale, or indicate that it did not use any such offering documents. Firms must file the required offering documents electronically with FINRA through the FINRA Firm Gateway. The rule becomes effective December 3, 2012, and applies prospectively to private placements that begin selling efforts on or after that date.  read more…

November 27, 2012 –  Mary Schapiro, SEC Chairwoman, to Step Down Dec. 14, 2012 - read more…

October 23, 2012 – Keynote to National Society of Compliance Professionals - read more…

August 30, 2012 –  SEC Proposes Rules to Implement JOBS Act Provision About General Solicitation and Advertising in Securities Offerings – U.S. securities regulators proposed lifting a long-standing ban on the advertising of private securities offerings, a measure that could give a boost to private companies and hedge funds - read more…

March 23, 2012 – Reopening American Capital Markets to Emerging Growth Companies - Senate passed 3606 yesterday Thursday 73-26.  This bill had 6 House of Representative bills combined.  It was just approved by the House March 8th and moved rapidly through Senate.  No one was sure it would pass so fast but it now appears to have “legs” with momentum gaining with widespread support.  read more…

March 21, 2012 –  SEC Orders DTC To Adopt Fairness Procedures On Suspensions - This ruling is good news for issuers facing a so-called DTC eligibility commonly referred to as DTC “chill.” It is now clear they have standing to insist on a proper and fair hearing, and the chance to appeal to the SEC if they are not satisfied.  read more…

March 16, 2012 – Keep Your Eyes on This Bill and Give it Your Support - H.R.3606 Latest Title: Reopening American Capital Markets to Emerging Growth Companies Act of 2011 - read more…

March 9, 2012 – NIBA Industry Update: FINRA Request Comments on Amendments to NASD Rule 2340 - FINRA seeks comment on a revised proposal to amend NASD Rule 2340 (Customer Account Statements) to address the per share estimated values at which unlisted Direct Participation Programs (DPPs) and unlisted Real Estate Investment Trusts (REITs) are reported on customer account statements. The revised proposal reflects changes based on comments to the amendments FINRA proposed in Regulatory Notice 11-44read more…

November 1, 2011 – Industry Alert: Investors Opt for Arbitration Panels Without Ties to Wall Street - In an article by Susanne Craig in the NY Times she states that  that 77 percent of eligible investors were opting for a new program that allowed them to have their claim against Wall Street heard by a three-person panel with no links to the financial industry. read more…

October 3, 2011 - Comments due to NIBA by Oct. 10 on FINRA Reg. Notice 11-44.  read more…

September 30, 2011 – FINRA NTM 11-44 Comment Period - As expected, FINRA has released NTM 11-44 for comments. Please submit your questions and comments to NIBA via email toemily@nibanet.org by Friday, October 7.  Questions and comments will be organized for redistribution back to the committee. read more…

September 21, 2011 - NIBA Industry Alert: SEC Announces Roundtable on Microcap Securities - The Securities and Exchange Commission today announced that it will host a public roundtable next month to discuss the unique regulatory issues surrounding the execution, clearance, and settlement of microcap securities.  read more…

September 20, 2011 – Hearing on Appropriate Regulatory Oversight of Broker-Dealers - The House Subcommittee held a hearing last Tuesday, September 13 on “Ensuring Appropriate Regulatory Oversight of Broker-Dealers and Legislative Proposals to Improve Investment Adviser Oversight.” The witnesses included representatives from the Financial Industry Regulatory Authority (FINRA), state securities regulators, trade groups for advisers, securities brokers and insurance brokers, the SIFMA brokerage association, and a consumer advocate.  Read more…

July 27, 2011 – Senate Banking Committee Assesses Dodd-Frank Act On Its One Year Anniversary
On the first anniversary of the enactment of the Dodd-Frank financial reform law, the Senate Banking Committee held a hearing on “Enhanced Oversight After the Financial Crisis: The Wall Street Reform Act After One Year.”

The hearing began with sharp critique of the Dodd-Frank Act by Ranking Member Shelby, followed by a brief and frequently humorous appearance by Ranking Member Frank, who took exception to Shelby’s description of the legislative process that produced the financial reform bill. Frank then touched upon a few specific issues the law addresses, such as risk retention for mortgage securitizers and position limits for commodity speculators. Frank ended by discussing the post-GSE landscape for housing finance, which was not included in the Act, suggesting House Republicans had been unable to agree among themselves on how to proceed.

After the panel of financial regulators gave their statements, topics raised during the question period included: the law’s impact on smaller banks; the Fed’s methods for assessing the costs and benefits of its rules; CFTC regulation of systemically important firms and clearinghouses; whether House appropriators have adequately funded the SEC and CFTC; swaps margin rules for foreign subsidiaries of U.S. banks; Sen. Menendez’s efforts to get banks to release documents related to the ongoing mortgage servicer settlement negotiations; accounting rules for municipal debt issuers; and whether the fact that assets have become further concentrated among the largest U.S. banks means that Dodd-Frank has not ended the “too big to fail” perception. For full hearing coverage, please click here. (Submitted by Michael Fugler)

July 27, 2011 – Surprise! U.S. Chamber takes swipe at FINRA
The nation’s largest business organization wants Finra and other self-regulatory organizations to be more transparent and accountable for their actions.

In a report released July 22, 2011 the U.S. Chamber of Commerce said that the Dodd-Frank financial reform law failed to address problems at the Financial Industry Regulatory Authority Inc. and other SROs. Click here to view full article (login may be required).

July 13, 2011 – NIBA Webinar: Social Media Compliance
1:30 pm ET, 12:30 pm CT, 11:30 am MT, 10:30 am PT
Register now!

This webinar will discuss how you can use social media while protecting you and your firm from enforcement actions, fines and reputational risks. Learn:

  • The importance of social media to the financial services industry
  • Regulatory Notice 10-06 emphasizing personal responsibility
  • Find details on record retention of communications as required by Rules 17a-3 and 17a-4 under the Securities Exchange Act of 1934 and Rule 3110
  • Discover how your comments could trigger suitability issues
  • How to comply with the SEC and FINRA regulations impacted by social networks
  • Proper record keeping and communication regarding advertising

Moderator:
FuglerMichael Fugler, ASG Securities
Michael Fugler currently serves on the Board of ASG Securities and as Head of Global Capital Markets for Welcome Life Financial Group. He manages the strategic vision and direction for offering institutional clients trading, project development, capital raising and independent objective advice. Fugler has been a licensed attorney for 38 years with an expertise in international law and finance, international investment and merchant banking. He has also been an investment banker for the past 16 of those years being FINRA registered with Series 7, 24, 63 and 79 licenses and establishing offices in and providing extensive consulting and guidance to institutional investors throughout Europe and the USA.

Panelists:
JanowskiDavis Janowski, Investment News
For the last four years, Davis Janowski has served as the technology reporter for Investment News. In this position, he works to meet the technology information needs of financial advisers throughout the nation. His beat focuses on covering the key software and online services in the financial services sector, as well as the latest in computer and mobile hardware technology available for financial advisers. Prior to this, Janowski covered many facets of technology for the nation’s leading computer publication, PC Magazine. In his last two years there, he served as lead analyst for web services and software and had the pleasure and daily challenge of keeping up with and reviewing the online services produced by Google, Microsoft, Yahoo! and many others. Prior to PC Magazine, he served as a medical editor and writer covering the field of epidemiology and infectious diseases where my work was disseminated to both a professional and lay audience.

Amy SochardAmy Sochard, FINRA
Amy Sochard is director of programs and investigations for FINRA’s Advertising Regulation Department. She manages the department’s investigative, sweep and technology activities and serves as a liaison to other FINRA departments involved in these areas. Sochard also oversees staff dedicated to the routine review of FINRA firms’ advertisements. She speaks frequently at industry conferences and helps develop new rules and interpretations with respect to firms’ communications with the public. Prior to joining FINRA, she worked with a real estate syndication firum. She earned a bachelor’s degree in English with distinction from the University of Virginia and studied poetry writing at Columbia University.

January 21, 2011 – FINRA requests comments on a proposal to amend FINRA Rule 5122
Click here to read the email alert to NIBA Membership
Click here to read the FINRA Notice

December 23, 2010 – Current Events that will have an Impact on our Industry: The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (H.R. 4853)
Click here to read the email alert to NIBA Membership

NIBA Press Releases

May 2, 2013 – ATHENS, GA – (MARKETWIRE) –  Ed Cox, Chairman of the New York Republican State Committee will be featured as the Guest Luncheon Speaker at the upcoming National Investment Banking Association conference, The 126th NIBA Sponsored Event, in New York, NY on June 18, 2013.  Read more…

March 28, 2012 – ATHENS, GA – (MARKETWIRE) – The National Investment Banking Association (NIBA) today announced that it will showcase emerging industry leaders at the 122nd Investment Conference to be held June 7-8. 2012 in New York, NY Read more…

March 28, 2012 – NIBA New York Conference Hotel Room Rate Available June 3 – June 10, 2012 read more…

March 26, 2012 – ATHENS, GA – Barrett and Company is pleased to announce that James F. Twaddell (Jim) has joined our firm as Director of Corporate Finance Read more…

July 22, 2011 – ATHENS, GA. – (MARKETWIRE)The National Investment Banking Association (NIBA) today announced the appointment of new Chairpersons to its Board of Directors and Committees who will provide leadership to the organization. Read more…

June 27, 2011 – ATHENS, GA – The National Investment Banking Association (NIBA) today announced that it will showcase emerging industry leaders at the 119th Investment Conference to be held at the Omni Parker House Hotel in Boston on August 17-19, 2011.  Read more…

May 31, 2011 – ATHENS, GA – The National Investment Banking Association (NIBA) today announced that Stephen R. Gross, CPA and Founding Organizer of HLB Gross Collins, P.C. will be Guest Speaker and Moderator at the upcoming June 15-17 Conference in Atlanta, GA. Read more…

February 10, 2011 – ATHENS, GA. – (BUSINESS WIRE)The National Investment Banking Association(NIBA) today announced that it will host its “Land of Opportunity Conference” at The Westin Beach Resort & Spa in Fort Lauderdale, Florida on March 2-4, 2011. “NIBA’s “Land of Opportunities Conference” will feature: Opportunities for knowledge regarding current regulatory issues from the experts, including 5122; Opportunities for networking with the industries best boutique investment bankers, fund managers, small issuer service providers and others; Opportunities to interact with quality emerging companies and Opportunities to enhance your business”, stated Emily Foshee, NIBA Executive Director. Read more…

January 4, 2011 – ATHENS, Ga. – (BUSINESS WIRE)The National Investment Banking Association (NIBA) today announced the appointment of new officers and the election of three new members to its rotating nine-member Board of Directors which will provide leadership to the organization for the 2011 calendar year.  Key officer appointments include returning board member Jeffrey M. Johnson of Atlanta being elected to serve as the new Chairman of the Board, and James Hock of Hanover International, Inc. being named Secretary/Treasurer. Read more…

December 6, 2010 – Perdido Key, Florida (MMD WIRE)Michael Fugler was a featured speaker and panel moderator at the National Investment Banking Association (NIBA) Conference in Las Vegas, Nevada to discuss “Time Bombs in Recent Legislation (Dodd-Frank and more)” and present the Association’s new conference forum structure to its membership.

Mr. Fugler told the well-attended session, “The financial services industry has experienced a year of unprecedented events and trends but public awareness of Financial Services is at an all time high and NIBA is primed to help redevelop how the capital markets will influence this multi-billion dollar consumer-driven industry.” Mr. Fugler went on to outline a broad view of the financial market’s strengths and vulnerabilities and stated, “Moving forward NIBA’s future conferences will feature prominent industry leaders, influential lawmakers and regulators as well as established representatives from the investment community making it the Association capable of focusing on exclusive industry networking opportunities and the financial service industry’s rejuvenation.” Read more…

November 8, 2010 – ATHENS, Ga. –  (BUSINESS WIRE)The National Investment Banking Association (NIBA) today announced Kenneth Kamen, author of Reclaim Your Nest Egg: Take Control of Your Financial Future and President of Mercadien Asset Management as the event’s keynote speaker, addressing all conference attendees during a lunch presentation on Thursday, November 18.  Read more…

October 14, 2010 – ATHENS, Ga. –  (BUSINESS WIRE)The National Investment Banking Association (NIBA) will host its 116th Investment Conference at Caesars Palace Hotel  in Las Vegas, Nevada on November 17-19, 2010.  Read more…

August, 24, 2010 – ATHENS, Ga. – (BUSINESS WIRE) The National Investment Banking Association (NIBA) today issued a confirmed list of companies scheduled to present at the 115th Investment Conference to be held at the Gaylord Texan Hotel in Dallas, Texas on August 25-27, 2010.  Registered attendees will be treated to a luncheon panel discussion on Thursday, August 26, 2010, titled “Current & Future Observations on the Micro/Small-Cap Marketplace.” The panel, moderated by Ed Crumm of BKD, LLP, will feature panelists Russell Cleveland of Renn Capital Group, Wilson Jaeggli of Southwell Partners and Joe Mannes of Halter Global Opportunity FundRead more…

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