Securities
Jan. 31, 2023
SEC commissioner wants more disclosure of private funding
The Democratic member of the commission said the exception carved out for private companies – once intended for small businesses – has exploded in recent years. With Democrats holding a majority on the five-member commission, attorneys are paying close attention to changes the SEC might try to make.
CORONADO – Securities and Exchange Commissioner Caroline A. Crenshaw proposed stepped-up disclosure requirements for large private companies on Monday, arguing that they are able to raise huge sums without any safeguards to protect investors.
Crenshaw’s keynote address at an annual securities law conference near San Diego caught the attention of attorneys, who noted that there hadn’t been much SEC regulatory activity about private companies...
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