“Securities Are Sold, Not Bought—But Reg CF Marketing Has Rules: The SEC’s New Reg CF C&DI Guidance”
Advertising and marketing are crucial for Regulation Crowdfunding offerings. As the old sales adage goes – “Securities are sold, not bought.” But marketing an offering compliantly is just as important as the marketing itself, as few activities can get an issuer in regulatory hot water faster than running afoul of the SEC’s rules on promoting […]
Why IPO Candidates Should Consider Regulation A First
Financial newsletters are coalescing around the idea that 2026 will be the year of IPOs. To their credit, a number of high-profile offerings look likely to occur—SpaceX, AI players OpenAI and Anthropic, fitness app Strava, and others have already filed confidentially or announced plans for IPOs later in the year. However, especially for consumer-based companies, […]
AI and Fraudsters are Upending Indicia of Trust in Online Investments
The SEC recently brought an enforcement action against persons who created a fake trading platform for crypto, in which investors were contacted through messaging apps and encouraged to deposit funds in exchange for the crypto products being offered. See, https://www.sec.gov/newsroom/press-releases/2025-144-sec-charges-three-purported-crypto-asset-trading-platforms-four-investment-clubs-scheme-targeted. While investment scams are not new, this scam brings together new elements that upend some […]
SEC Announces Examination Priorities.
On November 17, 2025, the SEC released its annual examination priorities covering all categories of entities under its supervision. These include broker-dealers, investment advisers, FINRA, as well as funding portals operating under Regulation Crowdfunding. Although the list of priorities specific to funding portals is shorter than those for other regulated entities, it still signals the […]