SEC could lease offerings of securities via the Web; Commission has the power to block states' registration requirements for online offers made exclusively to 'qualified purchasers.'(Internet/CD-Rom)
Article Abstract:
The Capital Markets Efficiency Act of 1996 facilitates the use of the Internet for some offerings of securities by preempting what SEC rules deem to be 'qualified purchasers' from state registration of security offers and sales. The SEC could expand this exemption to make it easier for small issuers to use the Internet for marketing. California already has such an exemption and the SEC should make a national one, thus easing the regulatory burden born by small businesses. Securities exempt from state registration under such an expanded rule would still be subject to state fraud provisions.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1997
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Web lenders tread slowly into traditional waters; regs and laws designed to protect public now stand in the way of Internet bank progress
Article Abstract:
Internet banking is discussed, and the absence of well-defined laws, especially with Internet lending, has slowed growth. Marketing loan products on the Internet can raise Community Reinvestment Act and fair lending concerns, as well as jurisdictional, licensing, and general contingent liability considerations. The Uniform Electronic Transactions Act, governing digital signatures, also comes into play.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 2000
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Securities; SEC Internet report
Article Abstract:
Issues regarding 1999's SEC online brokerage report are discussed. The topics include suitability requirements, best execution, market data-mining utility, and online investor education initiatives.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 2000
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