In this issue:

- NASDAQ Launches Marketplace for Private Companies

- SEC Proposes Rules to Enhance Oversight of Clearing Agencies

- FINRA Proposes to Amend Rules 2210 and 2214

- CME Group Exchanges Adopt Revised Rules Regarding Transfer Trades and Concurrent Long and Short Positions

- Joint Audit Committee Adopts Template Acknowledgment Letters

- CFTC Announces Available-to-Trade Determinations

- CFTC to Host Roundtable on Commodity Pool Operator Risk Management Practices

- New York Department of Financial Services Issues Public Order to Invite Virtual Currency Exchange Proposals

- SEC Prevails in Lawsuit Involving $50 Million Ponzi Scheme

- SEC Brings Lawsuit Against Former Carter’s Executive for Insider Trading and Tipping

- Excerpt from NASDAQ Launches Marketplace for Private Companies:

On March 5, NASDAQ announced the launch of its new capital marketplace for private companies, NASDAQ Private Market. Qualifying companies will be able to use NASDAQ Private Market’s platform to raise capital and control secondary transactions, similar to secondary market platforms offered by other companies. To qualify as a member company, a private company must meet minimum standards for reporting and disclosure and must: (1) have received at least $30 million in funding in the last two years and have an enterprise value of at least $50 million; (2) have had each of total assets and annual revenue of at least $50 million in the latest fiscal year, or in two of the last three fiscal years; (3) have an annual net income of at least $750,000 in the latest fiscal year, or in two of the last three fiscal years; (4) have $5 million in shareholders’ equity and two years of operating history; or (5) be backed by a recognized financial investor or investors with a “track record of successful venture investments.”

Please see full newsletter below for more information.

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Topics:  Audits, CFTC, Clearing Agencies, CME, FINRA, Nasdaq, Ponzi Scheme, Risk Management, SEC, Transfers

Published In: Business Organization Updates, Finance & Banking Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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