“One and done” SPV reporting? Really?
It’s Form C-AR filing season again, and maybe time to discuss an interesting consequence of using a crowdfunding special purpose vehicle (“SPV”). These are used in roughly one quarter of all Regulation CF filings, according to the analysis of our colleagues at Kingscrowd. Everyone in crowdfunding knows that once a company has taken money from […]
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 […]
Semi-annual reporting for SEC-registered companies?
Coming soon (in my opinion). The President is not the first to suggest that SEC-registered companies be permitted to choose semi-annual instead of quarterly reporting. The idea has been periodically floated since I was an SEC Staffer back in the Dark Ages (less than a generation after quarterly reporting was adopted in the first place). […]
Crowdfunding is for everyone.
One thing I will never get tired of working in this space is the variety of companies that have been able to effectively utilize offerings under Regulation CF and Regulation A. These exemptions are versatile, and allow for companies to raise funds whether they have no interest in being more than a neighborhood restaurant, or […]
Another reason not to violate Section 17(b)
CrowdCheck has blogged many times before about Section 17(b), the stock touting rule. Here’s where we outlined the basics more than ten years ago. Since then, the SEC has brought many Section 17(b) cases, some of them against some very well-known athletes and influencers. Some of those people were fined millions of dollars for promoting securities […]