With RAISE Act, Congress Paves Way for Private Secondary Markets

Posted by prostoalex on Sunday December 20, 2015 @10:34PM
from the techcrunch.com dept.

http://techcrunch.com/2015/12/20/with-raise-act-congress-paves-way-for-private-secondary-markets/?ncid=rss&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Techcrunch+%28TechCrunch%29

( 3 comments | 13 points | on HN )

Re:With RAISE Act, Congress Paves Way for Private Secondary ... by pcl on Monday December 21, 2015 @01:37PM (#10772575)

Has anyone read up enough on this to understand how this compares to the IPO process before Sarbanes-Oxley [1] etc.? The article says that the purchaser must be an accredited investor. Additionally, it says that the "RAISE Act also specifies disclosure requirements for these transactions."

I wonder how close these disclosure requirements are to the disclosure requirements of 15 years ago. Are we basically seeing Sarbanes-Oxley being reverted here?

[1] https://en.m.wikipedia.org/wiki/Sarbanes%E2%80%93Oxley_Act

[ Parent | on HN ]

Re:With RAISE Act, Congress Paves Way for Private Secondary ... by cowardlydragon on Monday December 21, 2015 @04:43PM (#10773730)

Sooooo... Another insider trading channel for banks? Or the banks have total control over the market?

Nothing like this gets passed without the plutobanks being in total control of the profits.

[ Parent | on HN ]

Re:With RAISE Act, Congress Paves Way for Private Secondary ... by spencera on Monday December 21, 2015 @12:34PM (#10772208)

I'm probably not educated enough to say something like this, but "Included within the FAST Act is a section, the Reforming Access for Investments in Startup Enterprises (“RAISE”) Act" is something I hate about how laws get passed.

It feels so strange that Acts can involve completely unrelated regulations.

[ Parent | on HN ]