Tag Archives: private markets

SEC Building

Letters to Congress: Urging Action on $5 Trillion Exempt Offerings/Private Markets

Americans for Financial Reform today wrote to the House Financial Services Committee’s Subcommittee on National Security, Illicit Finance, and International Financial Institutions urging members to rely on existing authority by the Securities and Exchange Commission (SEC) in order to gain more transparency into the $5 trillion private markets (“exempt offerings” under SEC Rule 144A and Reg D) to address national security concerns.

News Release: New SEC Private Fund Rules Can Help Stop Ripoff of Retirement Savers

Washington, D.C. – New investor protections announced today by the Securities and Exchange Commission (SEC) have the potential to curb widespread practices that have allowed Wall Street’s $25 trillion private fund industry to harvest tens of billions in fees at the expense of public pensions, retirees, and other savers – all to the advantage of some of the richest people in the world.

SEC Building

Letter to Regulators: SEC Should Withdraw Proposed “Finders” Exemption to Broker-Dealer Regulation

By creating a blanket exemption for a broadly defined group of “finders” to effectively act as solicitors and brokers in private investment markets without being subject to any of the requirements on registered broker-dealers as regards disclosure, qualifications, obligations to customers, pricing, record-keeping, business conduct, financial resources, or compliance with FINRA rules, the Commission would abrogate its responsibilities to protect investors and to maintain fair and orderly markets.