The SEC announced that the next meeting held on June 3rd of its Advisory Committee on Small and Emerging Companies will focus on public company disclosure effectiveness, intrastate crowdfunding, venture exchanges, and treatment of “finders.” The Committee also will vote on a recommendation to the Commission regarding the “Section 4(a)(1½) exemption” sometimes used by shareholders to resell privately issued securities. This topic was initially discussed at the committee’s March 4 meeting. The exemption is the subject of proposed legislation, titled the RAISE Act, and sponsored by Congressman McHenry. See the SEC’s notice here: http://www.sec.gov/news/pressrelease/2015-101.html
