Podcasts about securities law

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Best podcasts about securities law

Latest podcast episodes about securities law

The Voice of Corporate Governance
Texas, Delaware, and the New Controller Primacy with Christine Hurt

The Voice of Corporate Governance

Play Episode Listen Later Jul 24, 2025 17:42


In this episode, CII General Counsel Jeff Mahoney interviews Christine Hurt, Senior Associate Dean for Academic Affairs, the Alan R. Bromberg Centennial Chair in Corporate, Partnership, Business and Securities Law, and Professor of Law at the Southern Methodist University Dedman School of Law. Professor Hurt is the author of a new research paper titled "Texas, Delaware, and the New Controller Primacy."

The Passive Income Attorney Podcast
RTBL 02 | The Truth About Capital Raising That Your Attorney Won't Tell You with Devin Robinson

The Passive Income Attorney Podcast

Play Episode Listen Later Jul 22, 2025 40:36


Title: The Truth About Capital Raising That Your Attorney Won't Tell You with Devin Robinson Summary: In this episode of the “Funds on Fire” podcast, host Devin Robinson interviews Seth Bradley, a seasoned SEC attorney and a friend. Both share insights into the world of capital rasing, investment funds, and legal compliance. Robinson highlights the rapid learning curve and opportunities within the fund management landscape. He discusses his background in raising millions for real estate ventures and transitions into the value of complying with SEC regulations when raising capital. The conversation sheds light on common misconceptions surrounding securities law, stressing the importance of education and understanding regulations related to passive investments. Bradley offers practical advice on starting investment funds, the advantages of teaming up with experienced SEC attorneys, and the evolving trends in alternative investments, particularly in light of recent market changes. He emphasizes the necessity for diversity in investment management and the need for entrepreneurs from all backgrounds to have access to the financial education that empowers them to raise capital and scale their business ventures effectively. Links to watch and subscribe: https://www.youtube.com/watch?v=P-w_w6WAUVw Bullet Point Highlights: Capital Raising Insights: Devin Robinson shares his journey in successfully raising millions for investment projects. Legal Compliance Importance: Seth Bradley emphasizes the significance of understanding SEC regulations to avoid legal troubles in fund management. Fund Management Strategies: Discussion on navigating funds, from 506(b) to 506© offerings, providing clarity on compliance requirements. Education Gaps: The necessity for education in the finance and investment space is underscored, highlighting the lack of resources for aspiring fund managers. Diversity in Investment: Recognition of the disparity in investment opportunities for minorities and the importance of fostering diversity in fund management. Trends in Capital Raising: A shift towards fund-of-funds structures and other innovative investment vehicles as alternatives to traditional capital raising models. Confidence Building: Advice encouraging newcomers in investment to be confident and educated, asserting their place in the industry. Transcript: raised tens of millions of dollars myself as well as um you know we purchased just in 2022 Alone um I was a GP on over $120 Million worth of commercial assets we don't want to say anything that might get us into trouble you know I'm I'm an entrepreneur first so I'm out there to to educate it started going down you started seeing some people get in trouble but all along the way on that rise up he's suing anybody because they've been getting their returns and they've been everybody's been crushing it and even if   you're a terrible operator you've still been crushing it because the market saved you and nobody's getting sued so it's all good until it's not welcome to funds on fire the podcast that ignites The Passion of investment funds in capital raising here we turn the complexities of fund management into clear actionable steps that drive results I've invested into diverse real estate across the United States and managed thriving funds and I'm committed to transforming lives through the vehicle of investment funds and helping   others to do the same join me as we document the Journey of scaling businesses raising capital and impacting tens of thousands of people around the world my name is Devin Robinson and welcome to funds on fire on this episode of the podcast I actually interview Seth Bradley who is an SEC attorney and has become a really good friend of mine so him and I met a couple years back at raay Fest and which is we're part of a mastermind for Capital raising and fun launching and then both of us as we've become friends   as we did this podcast interview gosh a couple of months ago and then now I've launched the podcast and even since then this is pretty cool him and I have actually started a partnership on um on helping people to launch uh manage scale and raise capital for investment funds and it's something really cool so you'll hear more about that later but it's really cool that it started uh with this podcast we both are very like-minded people we both have very similar goals and desires especially when it comes to   Capital raising and the access to information with when it comes to that and for other people to be able to learn how to um honestly be able to launch and scale an investment fund and there are so many people that have the ability to do it have the um the skills and the knowledge to do it but don't have the opportunity to do it or honestly just think it's too hard to do and so I'm so excited because partnering with somebody like Seth is incredible he's a guy who has helped hundreds of people to launch   and manage their funds or would just really launch their funds he has raised hundreds of millions of dollars and invested into hundreds and hundreds of millions of dollars worth of real estate himself and so to be able to partner with him on something like this is really really awesome so I'm excited for that as we talked through his journey talk through all the things as we go through his progression from just being a real estate attorney to then an SEC attorney that goes and helps people to launch and manage funds his involvement   in that some of the things he's doing and honestly it's going to be a really good conversation for you all to hear how to stay compliant how to make sure that you guys are raising Capital appropriately how to make sure that you guys aren't going to get in trouble with the SEC because of how you guys are raising Capital so excited for this really pumped for this episode just thought I'd give you a little preface before we dive in you are going to want to listen to this cuz he is awesome and I'm excited so thank you so much enjoy   the episode all right what's up and welcome to this episode of funds on fire I I love this uh because today we have a friend of mine Seth Seth we go back I don't know like at this point I feel like it's like two years now or a year and a half what we met at Ray's Fest a while ago and I'll tell you I was super impressed by this dude because we met we met at a bar we were like at this event we had guess us that's right that's exactly right we were at this event for Ray Fest and like I'd gone downstairs he was   chilling I was chilling we started talking and I was like I like this dude because one he's not like the typical like white dude that's here he's all tatted up he's really cool and then I realized he's by far the smartest in the room and I was like yo Seth is the man so Seth I would love for people to tell or for you to tell people like who you are and what you do I've enjoyed keeping up with you over the years content you're putting out is incredible and so if you haven't give this man a follow   ESP if you want to stay compliant with funds and the legal aspect of it cuz he's doing some really awesome stuff and I love how just like fit you and your Wi-Fi that's pretty cool too so I respect that too so Seth like tell people who you are where you're from what do you do cuz I think it's going to be important for people to know you all right man Deon I appreciate that intro brother yeah it was it was great meeting you back in the day now we've kind of followed each other on social media and   kept in contact and loved it love it man love it but I'm I'm a Securities attorney so anytime you're raising capital from passive investors you can get me involved I've got I've got the pedigree I worked in big law for seven years before starting my own Boutique Law Firm I think what people like the most about working with me is that I actually come from the business side as well so I'm a syndicator and a fund manager myself so um you know I've raised tens of millions of dollars myself as well as um you know we   purchased just in 2022 Alone um I was a GP on over $120 Million worth of commercial assets so you know I come from not just the legal side but also the business side and I look at every single deal like you know whether I'm you know actually an equity holder or I am just the vendor as the Securities attorney I look at the deal like hey how are we going to get this thing done right a lot of attorneys kind of get in the way um I don't want to get in the way I I will tell you what the risks are what your liabilities are what you might   be opening yourself up to what the gray areas are but at the end of the day you're the business person and you're the entrepreneur so you make the decisions based on the information that I give you so I'm I'm there to help you you get the deal done that's cool man cuz like I know man there's a lot of misconceptions about funds and so one I can tell you I really appreciate I really appreciate you because I have had some not so great SEC attorneys that I was not a big fan of then I've had some good ones and so I'm thankful for it and   so when it comes to that uh we're going to we're going to talk about compliance because that's super important but we'll also talk about uh because I I I guess so I'm in another Mastermind I think I was going to bring this up a little bit later but I'll bring it up now and I want to talk about the importance of finding a good attorney because like I I'm in a different Mastermind and it's more of an operators based Mastermind like how to a lot of single family things and I I talk to people and I'm like and because I'm   going to set the groundwork for this podcast but I talk to people and they're like oh yeah I've got some friends they've let me borrow some of their money and I'm just using that money and I'm like oh hold on uh what do you mean and so I talked to like I mean I can't tell you the last po I was there two months ago three people told me this said three people and so they were like they were like yeah so I have an LLC and they wire the money into my LLC account it's like three or four friends they   wire this money into my LLC account and then I use it and I give them a return and I'm like you need to call an attorney right now because you are literally violating Securities Law like you you you are and they're like wait wait wait okay but but what if what if they they say we we sign up you know a promisory note they put it in here and I'm like security and then they're like okay but what if that the the the people hold it an escrow our attorney is holding an escrow I'm like security and so like just to even like set the   groundwork what is like what what is a security and and and what do you see most often when people come to you and they're looking for an attorney and they're like hey I'm doing this is this legal and you're like no that's not legal but what do you see like what is the security and what is the misconception or the mistake that you see a lot of people make when they come to you yeah I mean you just said it so the number one problem or the the biggest problem I see every single day is just the lack of knowledge like   people just don't know and there's there's maybe a fine line there between not knowing and not caring enough to know right exactly you're like I know I'm doing something here and I don't care to look into it a little bit further to figure it out but that's but that's really what it comes down to is just not having the knowledge because you think like you know I'm just going to you know me and this guy are going to partner he's going to give me all this money and they're not going to do anything and they're going to they're   going to expect a return on their investment and all that kind of stuff and it's all good but it's not you're getting yourself into into issues you know to define a security in a in layman's terms I like to just say look if you've got a passive investor involved in your deal and they're expecting a return on their money and on the actions that you're taking as the active participant then that's a security and that that's it like if if you have a passive investor meaning they're not you know making decisions   they're not managing they're not helping you out on the active side that's a passive investor and you're probably dealing with the security right and this is what I think separates like syndication from the fund right so like if you have a syndication and then you have somebody who is brings the capital typically they're making some of the decisions which makes them a little bit more active so then it's not in that sense of violating that Securities laws if it's just either like one person or even a couple a group that's actually   making decisions on that and I guess that's not the main differentiator between a syndication and and a fund but I think that's where people get confused is the passive part of things that's right that's right it's the passive part of it right like you have people that come in whether it's a syndication or a fund if if they have um some sort of managerial rights or meaningful voting rights because you'll see if you if you invest passively in a deal and you read through the PPM and the operating   agreement you'll see that you really don't have any rights to make any sort of decisions there might be some convoluted way that you might be able to get the manager out if a b c d and f happens but probably not so you'll see that you're really passive right and if you're passive then that's a security that you're dealing with you're investing into security cool that's cool and I appreciate us understanding that groundwork because I want people to listen to this I want people in my Mastermind to listen to this I want   people to just hear and understand that more often times like more than you think there are people clearly violating SEC like security law and so I just want to make sure that people are compliant and this is like you mentioned it earlier and I think that's really important is just the lack of Education side of things and you and I talk about that we talked about this before this of like really there's only like two main Educators in this space that are doing this and unless you know those two you   run the risk of not really being honestly educated enough to run a fund unless you have the self-education side of these and so I love like what you're doing and the content you're putting out especially from a Securities attorney aspect to be able to help that what what have you seen has been like the main sources of Education because even just like outside of what I do outside of what you do uh are there other sources of Education since you've been in this space longer than me that people can go to to gain more   information about what it looks like to raise a fund or uh or even start looking in that direction yeah dude it's tough out there right like you just you just said it and I I'll just name him I mean Hunter Thompson has some really good content that he puts out love Hunter super intelligent guy great stuff it's about raising Capital 4 real estate specifically which is great for the for your audience um and then Bridger Pennington of course um his is a little bit not necessarily real estate related   more in the private Equity space but also real estate sometimes and those are really the only two guys that are putting out content um typically before them you're really getting your education from your securities attorney that you engage with you know that can you know they're going to give you legal advice they're not going to give you kind of like you know they they'll review your marketing materials and things like that to tell you hey this is compliant this is not maybe this is what you should do this is what you shouldn't   do but there's not really anything comprehensive out there where you put the whole package together when you're really trying to start a capital raising business other than those two guys right now so you know there's a lot of room in that space for people to to step in and do it and and also you know Securities attorneys if you look I mean there's only a few of us putting out any kind of content cuz you know as an attorney most most of us are pretty conservative we don't want to put ourselves out there we   don't want to say anything that might get us into trouble you know I'm I'm an entrepreneur first so I'm out there to to educate and that's what I was going to ask so for you man just like a little bit about your journey because like it's not every day that you meet a a Securities attorney now granted we are at a fund event so then like of course you're going to run into a Securities attorney but like honestly you you I feel like and this is kind of cool I feel like me and you don't fit the molds   of our role like for like we're tatted like you know like you know I'm saying we're tatted we're a little bit more laid-back I got I think I posted this the other day I graduated college with a 2.3 GPA like I I just am not very qualified of what you would put the normal qual qualifications of a fund manager would be but for you like for you how did you get started and like what Drew you to Securities Law cuz it's a very specific Niche to be in for sure yeah and I really got started in real estate law so I was always drawn to real   estate I just knew it was a great investment I've just like intrinsically loved real estate I don't know what it was like even when I was in undergrad I was like man it would be so great to own these tow houses that I'm living in like things like that I've just always been attracted to it and investing in it so I started investing in it myself I started out doing real estate transactional law oh cool from that from that perspective and then I realized that you know raising Capital was a little bit more   sophisticated I I like that aspect better and I started gravitating towards that and got into Securities Law and and again at the same time as I was doing that I was also starting to Syndicate my own deal so um pretty interesting that I got kind of the legal side got the business side going at the same time so it gave me really good perspective that's cool so you talked about your journey a little bit I love like diving into that Journey because you you said that you you were in on some of your own   deals so you started as real estate attorney chop that like started doing that were you like a closing attorney yeah yeah okay so like a closing attorney uh and then started did you get to a point where you're like yo I see all this money that people are making I kind of want to do that is that how it like switched into you becoming an active investor into real estate uh yeah somewhat man I mean I took kind of the traditional route of real estate investing I read Rich Dad Poor Dad I started listening to Big Pockets the   purple Bible you know it man what it is um yeah did all that and house hacked into a duplex I mean that was my first property started fixing and flipping a few few property still own some single family those sorts of things um and then you're San Diego right I'm in San Diego yeah but I'm originally from West Virginia West Virginia West by God Virginia that's right all right I mean like I feel like if you I feel like if you're from there you would say something like that that does make sense that does make that's the say that's   what we say West by God Virginia no I don't know anything about V West Virginia but now but now I do so now do you own some of your properties in in very two very different markets West Virginia or San Diego is that like where you own them or are you in other markets they're all over the place so like we invested I lived in Charlotte for a little bit like you know so own a couple properties there own a property in West Virginia that duplex that I was telling you about cuz I moved there for a job really you know California is   tough like to make anything cash flow there's some Adu opportunities right now for that but really just own the house that I live in then I have a condo that I rent out up in Orange County and that's about it but the other ones are all kind of all over the place like we invested in Cleveland for a little bit as well oh yeah some multi family stuff in Cleveland that that was kind of in the single family phase but as far as like the multif family the retail a lot of that was like in the midwest um in   the in the um in the sun sun Bel area so all over the place and we did like industrial we did retail we did multif family um all all sorts of stuff man on the commercial side and it's good to know that background for you like not that background but like you had the ability to understand and how to structure some of those deals um and so I'd love to I'd love to talk about the structure of funds a little bit because this is sure I'm going to as the question that I think like everybody wants to ask an SEC attorney about the   difference between a 506b and a 506c and then what constitutes like having that pre-existing relationship right because like if you have a 506b or a 506c there's certain stipulations but those are the two most common right like 90% of funds are 506 BS or 506 C's and so and if I'm wrong just just let me know but I believe that's like the statistic and and with those what constitutes the differences and then the pre-existing relationship part is one that a lot of people have questions about for sure man   yeah you're spot on so far I mean 506b I like to Remember by buddy so it's typically going to be a buddy right like yeah you have to have so the rule isn't that you have to have a pre-existing substantive relationship the rule is you're not allowed to solicit or advertise that's the rule and the way that you show that is by having a pre-existing substantive relationship with those investors so that that's a little bit of a Nuance there the rule is really you can't or advertised you can't go on Facebook and talk about it you   can't take out Google ads and and put it out there you can't even talk about it really to strangers and invite them into your deals you have to have that pre-existing substantive relationship because otherwise think about it well how would they know about your deal if you didn't right like that's that's kind of the the mindset there so yeah be but the the advantage there of course is that you're allowed to bring in 35 non-accredited investors so that's why people go with the 506b route number one   you can bring in a limited number of non-accredited investors uh number two there's there's less requirements for you as the uh fund manager or the syndicator the capital raiser on proving if they're accredited or not because they just self-certify so those are really the two big reasons you would choose a 506b versus a 506c which you can remember that by community so it's a bigger pool of people all right it's 506c for Community those folks when you have that exemption then you can go out there to your community you can solicit   you can advertise you can put it on Facebook you can put it out there in your m mind you go speak on stage and say hey guys come invest in my deal you can do whatever you want really it gives you the freedom to operate and not feel like oh am I doing something wrong but obviously the big thing there is accredited investors only so if you choose that 6C exemption you're only allowed to bring in accredited investors and they're all you're also going to have to take reasonable steps to verify that and that's typically through uh a   third party vendor or through that Investor's attorney or uh CPA that's going to write them a letter that says that they're qualified yeah which typically and you and not typically but like this is why you see even older more established funds go with a B because it's easier to just bring them in so they don't have to do all that stuff yeah what you see is they'll do a 506b but they won't allow uh non accredited investors in so it'll be 506b but only allow accredited investors so that they don't have to they don't they can   self-certify yeah which is makes it just a whole lot easier of paperwork standpoint so then uh that's which is really really interesting so for for me and I'm actually I'm going to just dive in a little bit deeper because there's so much gray here and like you can it's fine if you don't bring any like Clarity to the situation but there's so much gray here because I hear people that are like all right now when you meet that person add it to your calendar that you met that person and then you could talk   to them three weeks later and then like then you could pitch your fun to them and then like then now you're showing the SEC that it's a a pre-existing relationship and then it's like well where the heck is the line if there isn't even a line and then it's like then then what do they what is the expect me to do you know like if somebody introduces me to somebody how the heck do I make sure that I'm compliant in that in that relationship that we have if I know that they even come into the relationship interested in   what I'm doing I want to take a quick second to talk to you guys about something that could completely change the game for you if you're serious about launching and scaling an investment fund if you've ever wanted to start a real estate fund private Equity Fund or syndication but didn't know where to start this is for you fund Founders is giving you free access to foundations 101 a step-by-step course designed to help you to structure your fund the right way so you stay SEC compliant raise Capital like a pro even if you   don't have a network yet scale your fund without constantly chasing investors and avoid costly legal mistakes that can shut you down this is the exact road map successful fund managers use to launch manage and raise capital for their funds without wasting time or money and the best part it's completely free go to funds onf fire.com back/ Founders or click the links in the notes to get instant access to the fund Foundation 101 course don't miss this if you're serious about raising capital and growing your fund this is where you   start again that's funds onf fire.com Founders or click the link in the notes now let's get back to the show yeah uh pre-existing uh actually just means pre-existing the offering so pre-existing your syndication pre-existing your fund so that makes it a little bit difficult when you've got let's say an evergreen fund right it's like well you got that offering open forever right so you can't even bring anybody in after you've opened it um that you don't already know but there is a there is a kind of a loophole I'll   call it it's not really a loophole it's it's actually a regulation but you can actually convert um a 506b to a 506c now you didn't used to be able to do that but I think that pass um maybe like two or three years ago where you can convert the 506b to the 506c now you can't go back after that but once you make that conversion you know get all your 506b investors in if you want to fill that 35 non accredited pool and then convert it to a see you can do that and then you can go out you can solc it you can   advertise you can talk about it you can bring in strangers yeah now that's really interesting too well and I do know that I think you just have to close subscription for like 24 hours right or something like that and then you can open back up you really just have yeah there's not really a Time requirement you'll hear something you you'll hear where there's like a cooling off period and they'll say 30 days 60 days but it really just comes down to closing that first offering because it's separate   that 506 B exemption offering and then opening that new C offering and just to be safe because again we're dealing with Securities it's always gray maybe give it that 30 days to cool off and then open up that 506c and then you're good to go and you have to refile like a form D and everything like that you do okay you do okay cool I wonder if you're your blue skies you can use the same documents but You' need a new form D yeah okay cool all right very interesting so that's cool to know too so I use a platform and I think we've   talked about it briefly called aester and I'm a big fan because it's a customizable fund they actually don't I think because of the nature of the customizable fund they actually said that I can't close down my be and open back up as a c just by nature of that type of fund and I thought that was really interesting and I know you and I have talked about potentially chopping up like what the heck is the I I think I sent you the stuff for it I can't remember but uh yeah I think so yeah talking about that customizable fund   because it sounds like um you know there's different fund models there's um there are the reg d506 B and C's there's reg CF reg A's and then you also run into like syndications and then you have fun of funds right and so it sounds like and for you you've kind of done all of them I think oh yeah but right now you're really focused on one major one right is that what you like so the fund that you currently operate and you're running uh I'd love to hear a little bit more about that yeah for sure so just to   comment on the the aester fund you know it's it's a kind of a new product right the customizable fund it's pretty new it hasn't really been tested on the legal side quite yet it's pretty complicated right like complicated from well what it spits out is simple right they say Hey you create this Evergreen fund and then you get you know each investor only gets 1 K1 even though they might be invested across a bunch of deals things like that which is great um but you lose that flexibility so I don't know the the   intricacies of it but you know you can imagine you've got this this customizable fund that's invested in let's say 10 different other deals or whatever and some of them it's acting as a fun of fund some of them it's acting as u a lead sponsor or all these different things so trying to convert that to a 506b from a or 506b to a 506c I can see where you can run into some complications there it might not be possible yeah and I think so because the structure sorry the structure of it they tell me what makes it customizable is   the fact that like our investors can log in and I don't actually like I have an overarching PPM they log in and they choose the their investment that they want to I'm not telling them the investment that they have to like invest into they read the deal disclosures and decide decide that that's what they want where they want to allocate their money to which allows for for the customizability of this type of model so I think like that's where converting it to a c would be yeah what you're saying for sure y that's that's kind of the   defining I guess piece of that customizable fund is that investor actually gets to pick and choose within your fund that you created where they invest um and that actually I can see where that why they do that I mean it's a it's a great concept but also that keeps you from actually making any decisions as the fund manager so that keeps you out of some certain regulations I'm like hey this is what we offer yep you can look at the deal disclosures and decide on where you want but like they could and this is like one   of the things that they like is I can say oh you could you could essentially diversify your portfolio within one fund because you could choose this one this one this one this one but you choose how much you want to go into there so that's that is a very interesting model and so that's really cool um or like yeah the investor chooses it yep the investor chooses it and yeah and and I'll you know that contrast to what you're alluding to which is an SPV fund of fund so that's what we do over at tribe vest   in full disclosure I'm Chief legal officer and a and a shareholder of tribe vest um so I'm a little bit biased and aester is you know we don't like to call him a competitor honestly they do fund of funds and we do fund of funds is like the overarching product but it's completely different you know one situation which why I brought it up it's the only reason why I brought it up because I'm excited to dive into tribe vest and what you guys offer um because this is not a pitch for tribe vest and like I didn't even know about I did know   I've heard of trivest but didn't even know you were a part of it before this podcast but I love hearing what you're a part of and that's why I want to dive into that a little bit because I think it's cool yeah and I like it it it might be a good to kind of lay it out right you've got these customizable fun of funds out there avor is really the only one offering them there's a couple other uh groups out there that are going to be offering them soon you can actually go to a Securities attorney and they can   put it together for you as well um and yeah and then you've got the SPV fun of fund again you can go through triest or you can SPV just for clarity special right special purpose vehicle or single purpose vehicle kind of either either one really applies then you've got your typical discretionary fund which you would go directly to a Securities attorney and that's where you're actually making some decisions you're saying okay I'm going to raise 10 million bucks and I'm going to invest in Deal one two three four five six seven   eight um and you're kind of making those decisions and there's a lot of rules and regulations that you've got to abide by to be able to do that without a license but anyways back to the SPV the single-purpose vehicle instead of a customizable fund where you know the investor is making the decision and you as the fund manager in you know you make all these different things Avail all these different Investments available the SPV is designed as a single purpose vehicle to invest in one single deal so   if there's a Target deal let's say a 200 unit multif family property in San Antonio um we're going to spin up an SPV for you to invest as a passive investor into that Target deal and that's it it's super simple it's super contained it's not complicated it it just keeps everything compartmentalized both from an asset protection standpoint and from visibility right you're going to know as the fund manager and as the investor exactly what you're investing in what you're how you're going to get paid what   your projective returns are and it doesn't really get mudded by other Investments and this is what I CU I've talked to other SEC attorneys and they've talked about it's funny they've talked about how rare what I've done so I've like maxed out my 506b on a my first fund being a blind fund and they were like that's super rare because you're saying hey just trust me but what you guys are saying what you're doing is saying hey this is the specific and that makes it a lot easier to raise Capital because like you said ton more   transparency they know what they're investing into and so for people starting out that's probably the route that they want to start with is something where they can bring transparency and then the investors that they're coming in know exactly what they're investing into that's right de yeah what you did Devon was incredible like it's really difficult to do most people don't start there they can't start there they don't have the ability to um to be able to build that up that level of trust and track record prior to   you launching the fund that's why you're able to do it but most people can't do it most people have to get their first few in the door by showing the investors hey this is the exact deal that you're going to invest in and you're getting you're going to be a part of and they can do their own due diligence and underwriting and those sorts of things and they're say oh yes I believe in that property or that deal and I also believe in you as the the fund manager or the syndicator and it's easier to raise   Capital that way as opposed to a blind pool fund where it's like hey just give me your money and we're going to invest in something that looks like this and yeah exactly exactly so I actually I want to dive into more into tribe vests cuz like so where does the benefit come in because like somebody can just go and get with an SEC attorney and create their own SPV and and kind of go that route but where's the benefit of somebody coming in and working with tribe vest like why I mean honestly like I please I like tell me like why have   you invested into it why do you believe in it so much and then yeah tell me a little bit more about it man yeah because it it just makes everything super simple and super contained and we handle everything so if you go to an SEC attorney like myself I'm going to come in and I'm going to I'm going to draft your offering documents I'm going to file your exemptions do your blue sky filings and that's it and I I'm going to wipe my hands of it and I'll say you know good luck you know more than that I'll help you out of yeah exactly I'm   going to charge you a lot of money I'm going to charge you at least 25k right Tri vest includes everything that you could possibly imagine so all these different parts that you would have to put together as a capital aggregator TR vest handles so that includes not just the offering documents the legal stuff the filing of the exemptions and the blue sky filings but we're going to file for your entity we're going to get your EIN we're going to be your registered agent we are going to uh onboard your   investors so we're going to act like an like an investor relations person on your team so all you do is send us your list of investors and we start reaching out we send them the docs we walk them through how to sign and get them through the signing ceremony we hound them or we call it hurting the cats to get them to actually fund the deal cuz sometimes people get cold feet so bug the hell out of them yep bug the hell out of them until they make that wire we do all that we do the uh the accounting in your k1s   we configure your cap table very cool we do your distributions we open your business banking account we do uh everything on the back end uh we've got the investor dashboard or investor portal that you can use which alone is you know you're going to pay $500 a month at minimum for that by itself so it it's incredible and we do it at an incredible price and I mean we're not we're very transparent about that it's $5,000 upfront and then $2,000 a year annually and that comes with docs and everything that comes with docks and   everything there's just you can't be beat I mean it literally can't be beat and the other thing is the speed so as soon as you sign the greenl docks which is basically just like hey you agree to the services that we're going to provide we will have you raising capital in five business days no way man that's really cool that's fantastic if you come to to me if you come to me as a security attorney I've got that hat on you know we're not doing in 5 days I'll tell you that now how much education do you help   with because I tell people all the time like here's the questions you should have beforehand because your SEC like your attorney will be the most expensive education you have ever paid for if you don't have that information beforehand so like what what type of because they'll charge you like if you don't know if you want a 506b or 506 C you don't know if you if you want your waterfall this way if you want this and you're just asking questions they're going to charge you by the hour to ask those questions and so for you like how   much help do you guys help for people who are like I've never started a fund I'm really looking forward to starting this but I don't know where to go what does that look like for you guys yeah I mean for tribe vest we're putting together some modules actually right now we're going to roll them out literally before the end of the year which will be fantastic because we're going to share that with with the world you're going to be able to self-educate on what is a fun to fund how does that look like in the   fundraising ecosystem like you know what is a preferred return what is the profits what kind of fees can you charge all kind of the nuts and bolts that you need to know we're going to have that out there so soon enough that'll be available to the public and that'll be a huge value ad and huge help for us as well because we don't have to educate one-on-one anymore as a Securities attorney I I will advise on people I mean I'm I'm happy I'm I'm more of a mentor and a coach when it comes to that sort of stuff and I'll I'll be like look   attorney hat off right now I'm going to tell you this and here's kind of your gray area and that sort of thing so you know I I I think I get into those sorts of things a little bit more than most attorneys will um but if you go to like a a large Law Firm or even a regional Law Firm they're they're going to charge you per hour and that's going to be anywhere between you know $400 to $1,500 an hour yeah there's no doubt there's there's no doubt so and this is really interesting because one of the questions   that I had just going into this um and not even knowing about uh the not even knowing about tribe vest and and all of that is what have you seen as far as like trends that you're seeing in the industry right now because Trends seem to be changing one just even I I'm a disruptor you're it seems like you're a disruptor of Industries and we're trying to disrupt this huge investment fund industry um but it seems like there's being like there's different type of offerings there different structures there's different   things that people are doing what are some of the trends that you're seeing that people are kind of pressing against or starting in as far as funds as a whole you seeing that being the case of being become more common yeah I mean so like biggest picture right is trying to get these types of alternative Investments to the masses because most wealthy people even rich people whatever you want to call them that have some Expendable income that want to invest the only thing they know are 401ks stock market mutual funds   and those sorts of things and they we just need to get that out there and I think you're seeing a trend towards that I think bringing in more people that want to raise capital and start a capital raising business is how you do it right because they've already got their built-in networks and then those networks know other people and and it kind of spiderwebs out from there so that's that's kind of the biggest picture trend is just trying to see well we're seeing you know alternative investments just become more available   to the masses second you're seeing the industry go away from the CP model which I like to say the cgp model is dead and you're seeing people turn to the fun of funds route yeah because the cgp model has just been abused if you do it the right way if you're actually an active partner and you're actually participating in the meetings and and decid on Asset Management typee decisions then all good that's how it's supposed to be but when you're just raising capital and not doing anything else that's when the CP model gets   abused and it's not just oh well you shouldn't do that it's illegal it's plain and simple illegal so that was like the conversation I'm telling you when um I was having the conversation with that guy at my at my Mastermind and he was like we're doing this and I go like stop and he's like haa and I go no no it's illegal and he's like oh haha and I'm like no no like prison illegal and they I feel like just people don't understand the severity because they feel like what's wrong with it it's not that bad and it's like no no it's   illegal yeah and you know that this is just what happens right like you just kind of everybody just pushes boundaries pushes boundaries and you know fortunately or unfortunately however you want to look at it the industry's been fantastic for a long time right the real estate industry's went up since the the crash in 2009 2008 all the way until really covid and that was just a blip and then it took off again and then B basically up until last year 2023 is when you started seeing it kind of take   a nose dive a little bit because of interest rates and not because of the actual state of the market but the interest rates but either way it started going down you started seeing some people get in trouble but all along the way on that rise up all the investors have been happy he's suing anybody because they've been getting their returns and they've been everybody's been crushing it and even if you're a terrible operator you've still been crushing it because the market saved you and nobody's getting sued so it's all   good until it's not and then you've seen in yeah and then you see in 2023 you see you know potential foreclosures and workouts and you know Capital calls things like that investors aren't happy and we're in America and people are like yo how can I get my money back well you try to sue somebody and that's when you start seeing some of these things where the cgp model was abused or people weren't raising Capital the right way or they didn't f exemptions all those sorts of legal things that nobody really   worried about because everything was great start coming up and you're you're seeing that now so you're seeing that shift away from the CP model to the fund of funds model because the fund of funds model is compliant obviously if you do it the right way but it's more compliant and it's always been the answer but at the end of the day it's expensive it's more complicated you've got more attorneys you've got a whole separate offering all these different things that you have to take into account and people   were like I'm not doing that but now we're kind of forced into having to do that and that's where you know tribe vest and aester and some other folks are coming in and having coming up with solutions for that yeah that's really cool um because one one more thing I'm really curious on that you've seen because I feel like there is a fairly irreg irregulate asset you know coming into a very regulated um like structure right so one the things I'm talking about is like the rise of crypto in these crypto funds and these blockchains   based funds have you seen that start to affect like the legal landscape of funds and the formation that people have of that and the way that people are thinking through that and even how the SEC is starting to figure that out and uh and stuff like that have you seen like an emergence of more of those blockchainbased funds I have yeah and not just like strictly you know blockchain and and crypto but also just spin-offs of that right like you saw tokenized real estate was a big thing for a little while it's kind of turned   down a little bit but that was huge that was like I was crazy that you could be like I'm tokenizing my my bathroom and when I sell it you get like that much of the footage and the appreciation it's like what that's crazy yeah so it's kind of cooled out a little bit you know I don't I honestly don't follow that that closely just because I know that it just changes so fast and especially now that we've got the new Administration in here you're probably going to see a lot more loosening of that which would be good   for us but yeah I mean you know you're going to see that right like CU we are just on the the precipice of just crazy technological advancements from tokenized Real Estate to you know crypto to AI like all this stuff is going to like this landscape 5 years from now is is going to be unrecognizable yeah that's it's it really will just because of the way that contract law is going to go from the from the from um from I guess blockchain based like because like you'll see that where the blockchain will take a lot of   those uh a lot of that aspect and change it and flip it on its head so it's going to be super interesting to see how that goes man I want to respect honor your time I appreciate you being on I guess one thing I guess one more question that I have before we kind of go into the exit if there's somebody that's thinking about starting a fund because what you were saying earlier really there's only two main people if I'm fully transparent I want to be able to be uh the voice of funds for minorities and women in this   country because like all those other they all the white dudes they could have all the other white dudes that's fine with me but there's a lot there's a there's a huge disparity I heard uh don peees once say and this has changed my my my thought my process like my mindset ever since he says in the history of America there has been $94 trillion to come in through private equity and real estate in the history of American and history of America 8.3% of that had no sorry 1.7% of that have gone to minorities and women that means 98.3% of   that has gone to white men and so there's this massive disparity between access to education like you're saying access to Capital Access to I think there there's this quote that says the world equally distributes talent but doesn't equally distribute opportunity and so there's this huge disparity of opportunity of people that look like me and look like you and look like women around this country that I would love to make sure we're the voice for and so for people who don't have a lot of that education one what's a big piece of   advice that you would give them and when they're starting to think about starting a fund because I think like if I'm full of transparency most of the people I talked to and I told you I saved from prison there were black dudes they're just trying to do the right thing but don't have the education to do the right thing and so for for that like what what's a big piece of advice you would give people that are thinking like I think I want to start a fund um what should I look out for how expensive does   it matter because we've talked about a better solution for how expensive it can be but what's the thing that they should be looking out for yeah I mean you know right off the bat like be confident and don't be intimidated because I think some people yep in those groups that you described might feel a little discouraged because of that because you walk into a room that is maybe all fund managers or all capital risers or you know those types of people and you're like who I don't look like everybody   else so maybe I don't belong here or maybe your confidence goes from here to to hear and you're like and then and then you come off that way right like you've got to you got to step into that room with confidence and a lot of a lot of that comes down to self-education right like it comes from education and it's out there now I mean we mentioned that there's only a few really good sources but you can still piece it together I mean you can find anything on YouTube University just to at least get the you know being able to talk to talk   and walk the walk and and feel confident doing that so just get educated to start get that Baseline and then get out there and just be be confident like I said don't be intimidated don't feel like you don't belong because we got to get folks out there that are that are doing it from from those groups yep that's right man well I appreciate it Seth where can people find you where can people hire you where can people join what you're doing um because I think that they should I'm a big believer in you and   what you're doing and I'm excited for for all those things appreciate it man I usually update all my Links at Seth Paul bradley.com so you can find everything there I'm all over social media so all my handles are Seth Bradley Esq cool man I appreciate you thankful for your time thankful for your friendship I really look forward to uh to Growing growing together man it's fun to see other people that like we're about the same age I don't know you look like you're in your 20s but you're you're not I know   that but like uh but like like for us to just rise together on this man and so I'm thankful for this journey that we're on together and I appreciate you being here today love it brother appreciate you yes sir talk to you later man wow I hope you enjoyed that I have a quick favor if you've been enjoying the show there's one simple way you can support us and it's by hitting that follow button or that subscribe button on the app app you're listening to I want to level this podcast up in every single   way possible bringing you more value incredible content and guests and new strategies Following the show and leaving a quick review goes a really long way in helping us to grow and continue to deliver top tier content it's the only free thing I'll ever ask you to do and it makes a bigger impact than I can possibly put into words so thank you for being a part of this journey and I'll definitely catch you on the next episode to great success and greater impact peace Links from the Show and Guest Info and Links: https://www.youtube.com/watch?v=P-w_w6WAUVw https://www.instagram.com/p/DHbcSjGT7Jn/ https://tinyurl.com/FFfoundations-YT https://pfcapital.us/ Seth Bradley's Links: https://x.com/sethbradleyesq https://www.youtube.com/@sethbradleyesq www.facebook.com/sethbradleyesq https://www.threads.com/@sethbradleyesq https://www.instagram.com/sethbradleyesq/ https://www.linkedin.com/in/sethbradleyesq/ https://passiveincomeattorney.com/seth-bradley/ https://www.biggerpockets.com/users/sethbradleyesq https://medium.com/@sethbradleyesq https://www.tiktok.com/@sethbradleyesq?lang=en Devin Robinson's Links: https://www.instagram.com/devin.robinson1/ https://www.linkedin.com/in/devin-robinson-997ba040/ https://www.facebook.com/drob737/ https://x.com/devinrobinson37 https://www.threads.com/@devin.robinson1 https://www.tiktok.com/@devin.robinson1  

The Passive Income Attorney Podcast
RTBL 02 | The Truth About Capital Raising That Your Attorney Won't Tell You with Devin Robinson

The Passive Income Attorney Podcast

Play Episode Listen Later Jul 22, 2025 40:36


Title: The Truth About Capital Raising That Your Attorney Won't Tell You with Devin Robinson Summary: In this episode of the “Funds on Fire” podcast, host Devin Robinson interviews Seth Bradley, a seasoned SEC attorney and a friend. Both share insights into the world of capital rasing, investment funds, and legal compliance. Robinson highlights the rapid learning curve and opportunities within the fund management landscape. He discusses his background in raising millions for real estate ventures and transitions into the value of complying with SEC regulations when raising capital. The conversation sheds light on common misconceptions surrounding securities law, stressing the importance of education and understanding regulations related to passive investments. Bradley offers practical advice on starting investment funds, the advantages of teaming up with experienced SEC attorneys, and the evolving trends in alternative investments, particularly in light of recent market changes. He emphasizes the necessity for diversity in investment management and the need for entrepreneurs from all backgrounds to have access to the financial education that empowers them to raise capital and scale their business ventures effectively. Links to watch and subscribe: https://www.youtube.com/watch?v=P-w_w6WAUVw Bullet Point Highlights: Capital Raising Insights: Devin Robinson shares his journey in successfully raising millions for investment projects. Legal Compliance Importance: Seth Bradley emphasizes the significance of understanding SEC regulations to avoid legal troubles in fund management. Fund Management Strategies: Discussion on navigating funds, from 506(b) to 506© offerings, providing clarity on compliance requirements. Education Gaps: The necessity for education in the finance and investment space is underscored, highlighting the lack of resources for aspiring fund managers. Diversity in Investment: Recognition of the disparity in investment opportunities for minorities and the importance of fostering diversity in fund management. Trends in Capital Raising: A shift towards fund-of-funds structures and other innovative investment vehicles as alternatives to traditional capital raising models. Confidence Building: Advice encouraging newcomers in investment to be confident and educated, asserting their place in the industry. Transcript: raised tens of millions of dollars myself as well as um you know we purchased just in 2022 Alone um I was a GP on over $120 Million worth of commercial assets we don't want to say anything that might get us into trouble you know I'm I'm an entrepreneur first so I'm out there to to educate it started going down you started seeing some people get in trouble but all along the way on that rise up he's suing anybody because they've been getting their returns and they've been everybody's been crushing it and even if   you're a terrible operator you've still been crushing it because the market saved you and nobody's getting sued so it's all good until it's not welcome to funds on fire the podcast that ignites The Passion of investment funds in capital raising here we turn the complexities of fund management into clear actionable steps that drive results I've invested into diverse real estate across the United States and managed thriving funds and I'm committed to transforming lives through the vehicle of investment funds and helping   others to do the same join me as we document the Journey of scaling businesses raising capital and impacting tens of thousands of people around the world my name is Devin Robinson and welcome to funds on fire on this episode of the podcast I actually interview Seth Bradley who is an SEC attorney and has become a really good friend of mine so him and I met a couple years back at raay Fest and which is we're part of a mastermind for Capital raising and fun launching and then both of us as we've become friends   as we did this podcast interview gosh a couple of months ago and then now I've launched the podcast and even since then this is pretty cool him and I have actually started a partnership on um on helping people to launch uh manage scale and raise capital for investment funds and it's something really cool so you'll hear more about that later but it's really cool that it started uh with this podcast we both are very like-minded people we both have very similar goals and desires especially when it comes to   Capital raising and the access to information with when it comes to that and for other people to be able to learn how to um honestly be able to launch and scale an investment fund and there are so many people that have the ability to do it have the um the skills and the knowledge to do it but don't have the opportunity to do it or honestly just think it's too hard to do and so I'm so excited because partnering with somebody like Seth is incredible he's a guy who has helped hundreds of people to launch   and manage their funds or would just really launch their funds he has raised hundreds of millions of dollars and invested into hundreds and hundreds of millions of dollars worth of real estate himself and so to be able to partner with him on something like this is really really awesome so I'm excited for that as we talked through his journey talk through all the things as we go through his progression from just being a real estate attorney to then an SEC attorney that goes and helps people to launch and manage funds his involvement   in that some of the things he's doing and honestly it's going to be a really good conversation for you all to hear how to stay compliant how to make sure that you guys are raising Capital appropriately how to make sure that you guys aren't going to get in trouble with the SEC because of how you guys are raising Capital so excited for this really pumped for this episode just thought I'd give you a little preface before we dive in you are going to want to listen to this cuz he is awesome and I'm excited so thank you so much enjoy   the episode all right what's up and welcome to this episode of funds on fire I I love this uh because today we have a friend of mine Seth Seth we go back I don't know like at this point I feel like it's like two years now or a year and a half what we met at Ray's Fest a while ago and I'll tell you I was super impressed by this dude because we met we met at a bar we were like at this event we had guess us that's right that's exactly right we were at this event for Ray Fest and like I'd gone downstairs he was   chilling I was chilling we started talking and I was like I like this dude because one he's not like the typical like white dude that's here he's all tatted up he's really cool and then I realized he's by far the smartest in the room and I was like yo Seth is the man so Seth I would love for people to tell or for you to tell people like who you are and what you do I've enjoyed keeping up with you over the years content you're putting out is incredible and so if you haven't give this man a follow   ESP if you want to stay compliant with funds and the legal aspect of it cuz he's doing some really awesome stuff and I love how just like fit you and your Wi-Fi that's pretty cool too so I respect that too so Seth like tell people who you are where you're from what do you do cuz I think it's going to be important for people to know you all right man Deon I appreciate that intro brother yeah it was it was great meeting you back in the day now we've kind of followed each other on social media and   kept in contact and loved it love it man love it but I'm I'm a Securities attorney so anytime you're raising capital from passive investors you can get me involved I've got I've got the pedigree I worked in big law for seven years before starting my own Boutique Law Firm I think what people like the most about working with me is that I actually come from the business side as well so I'm a syndicator and a fund manager myself so um you know I've raised tens of millions of dollars myself as well as um you know we   purchased just in 2022 Alone um I was a GP on over $120 Million worth of commercial assets so you know I come from not just the legal side but also the business side and I look at every single deal like you know whether I'm you know actually an equity holder or I am just the vendor as the Securities attorney I look at the deal like hey how are we going to get this thing done right a lot of attorneys kind of get in the way um I don't want to get in the way I I will tell you what the risks are what your liabilities are what you might   be opening yourself up to what the gray areas are but at the end of the day you're the business person and you're the entrepreneur so you make the decisions based on the information that I give you so I'm I'm there to help you you get the deal done that's cool man cuz like I know man there's a lot of misconceptions about funds and so one I can tell you I really appreciate I really appreciate you because I have had some not so great SEC attorneys that I was not a big fan of then I've had some good ones and so I'm thankful for it and   so when it comes to that uh we're going to we're going to talk about compliance because that's super important but we'll also talk about uh because I I I guess so I'm in another Mastermind I think I was going to bring this up a little bit later but I'll bring it up now and I want to talk about the importance of finding a good attorney because like I I'm in a different Mastermind and it's more of an operators based Mastermind like how to a lot of single family things and I I talk to people and I'm like and because I'm   going to set the groundwork for this podcast but I talk to people and they're like oh yeah I've got some friends they've let me borrow some of their money and I'm just using that money and I'm like oh hold on uh what do you mean and so I talked to like I mean I can't tell you the last po I was there two months ago three people told me this said three people and so they were like they were like yeah so I have an LLC and they wire the money into my LLC account it's like three or four friends they   wire this money into my LLC account and then I use it and I give them a return and I'm like you need to call an attorney right now because you are literally violating Securities Law like you you you are and they're like wait wait wait okay but but what if what if they they say we we sign up you know a promisory note they put it in here and I'm like security and then they're like okay but what if that the the the people hold it an escrow our attorney is holding an escrow I'm like security and so like just to even like set the   groundwork what is like what what is a security and and and what do you see most often when people come to you and they're looking for an attorney and they're like hey I'm doing this is this legal and you're like no that's not legal but what do you see like what is the security and what is the misconception or the mistake that you see a lot of people make when they come to you yeah I mean you just said it so the number one problem or the the biggest problem I see every single day is just the lack of knowledge like   people just don't know and there's there's maybe a fine line there between not knowing and not caring enough to know right exactly you're like I know I'm doing something here and I don't care to look into it a little bit further to figure it out but that's but that's really what it comes down to is just not having the knowledge because you think like you know I'm just going to you know me and this guy are going to partner he's going to give me all this money and they're not going to do anything and they're going to they're   going to expect a return on their investment and all that kind of stuff and it's all good but it's not you're getting yourself into into issues you know to define a security in a in layman's terms I like to just say look if you've got a passive investor involved in your deal and they're expecting a return on their money and on the actions that you're taking as the active participant then that's a security and that that's it like if if you have a passive investor meaning they're not you know making decisions   they're not managing they're not helping you out on the active side that's a passive investor and you're probably dealing with the security right and this is what I think separates like syndication from the fund right so like if you have a syndication and then you have somebody who is brings the capital typically they're making some of the decisions which makes them a little bit more active so then it's not in that sense of violating that Securities laws if it's just either like one person or even a couple a group that's actually   making decisions on that and I guess that's not the main differentiator between a syndication and and a fund but I think that's where people get confused is the passive part of things that's right that's right it's the passive part of it right like you have people that come in whether it's a syndication or a fund if if they have um some sort of managerial rights or meaningful voting rights because you'll see if you if you invest passively in a deal and you read through the PPM and the operating   agreement you'll see that you really don't have any rights to make any sort of decisions there might be some convoluted way that you might be able to get the manager out if a b c d and f happens but probably not so you'll see that you're really passive right and if you're passive then that's a security that you're dealing with you're investing into security cool that's cool and I appreciate us understanding that groundwork because I want people to listen to this I want people in my Mastermind to listen to this I want   people to just hear and understand that more often times like more than you think there are people clearly violating SEC like security law and so I just want to make sure that people are compliant and this is like you mentioned it earlier and I think that's really important is just the lack of Education side of things and you and I talk about that we talked about this before this of like really there's only like two main Educators in this space that are doing this and unless you know those two you   run the risk of not really being honestly educated enough to run a fund unless you have the self-education side of these and so I love like what you're doing and the content you're putting out especially from a Securities attorney aspect to be able to help that what what have you seen has been like the main sources of Education because even just like outside of what I do outside of what you do uh are there other sources of Education since you've been in this space longer than me that people can go to to gain more   information about what it looks like to raise a fund or uh or even start looking in that direction yeah dude it's tough out there right like you just you just said it and I I'll just name him I mean Hunter Thompson has some really good content that he puts out love Hunter super intelligent guy great stuff it's about raising Capital 4 real estate specifically which is great for the for your audience um and then Bridger Pennington of course um his is a little bit not necessarily real estate related   more in the private Equity space but also real estate sometimes and those are really the only two guys that are putting out content um typically before them you're really getting your education from your securities attorney that you engage with you know that can you know they're going to give you legal advice they're not going to give you kind of like you know they they'll review your marketing materials and things like that to tell you hey this is compliant this is not maybe this is what you should do this is what you shouldn't   do but there's not really anything comprehensive out there where you put the whole package together when you're really trying to start a capital raising business other than those two guys right now so you know there's a lot of room in that space for people to to step in and do it and and also you know Securities attorneys if you look I mean there's only a few of us putting out any kind of content cuz you know as an attorney most most of us are pretty conservative we don't want to put ourselves out there we   don't want to say anything that might get us into trouble you know I'm I'm an entrepreneur first so I'm out there to to educate and that's what I was going to ask so for you man just like a little bit about your journey because like it's not every day that you meet a a Securities attorney now granted we are at a fund event so then like of course you're going to run into a Securities attorney but like honestly you you I feel like and this is kind of cool I feel like me and you don't fit the molds   of our role like for like we're tatted like you know like you know I'm saying we're tatted we're a little bit more laid-back I got I think I posted this the other day I graduated college with a 2.3 GPA like I I just am not very qualified of what you would put the normal qual qualifications of a fund manager would be but for you like for you how did you get started and like what Drew you to Securities Law cuz it's a very specific Niche to be in for sure yeah and I really got started in real estate law so I was always drawn to real   estate I just knew it was a great investment I've just like intrinsically loved real estate I don't know what it was like even when I was in undergrad I was like man it would be so great to own these tow houses that I'm living in like things like that I've just always been attracted to it and investing in it so I started investing in it myself I started out doing real estate transactional law oh cool from that from that perspective and then I realized that you know raising Capital was a little bit more   sophisticated I I like that aspect better and I started gravitating towards that and got into Securities Law and and again at the same time as I was doing that I was also starting to Syndicate my own deal so um pretty interesting that I got kind of the legal side got the business side going at the same time so it gave me really good perspective that's cool so you talked about your journey a little bit I love like diving into that Journey because you you said that you you were in on some of your own   deals so you started as real estate attorney chop that like started doing that were you like a closing attorney yeah yeah okay so like a closing attorney uh and then started did you get to a point where you're like yo I see all this money that people are making I kind of want to do that is that how it like switched into you becoming an active investor into real estate uh yeah somewhat man I mean I took kind of the traditional route of real estate investing I read Rich Dad Poor Dad I started listening to Big Pockets the   purple Bible you know it man what it is um yeah did all that and house hacked into a duplex I mean that was my first property started fixing and flipping a few few property still own some single family those sorts of things um and then you're San Diego right I'm in San Diego yeah but I'm originally from West Virginia West Virginia West by God Virginia that's right all right I mean like I feel like if you I feel like if you're from there you would say something like that that does make sense that does make that's the say that's   what we say West by God Virginia no I don't know anything about V West Virginia but now but now I do so now do you own some of your properties in in very two very different markets West Virginia or San Diego is that like where you own them or are you in other markets they're all over the place so like we invested I lived in Charlotte for a little bit like you know so own a couple properties there own a property in West Virginia that duplex that I was telling you about cuz I moved there for a job really you know California is   tough like to make anything cash flow there's some Adu opportunities right now for that but really just own the house that I live in then I have a condo that I rent out up in Orange County and that's about it but the other ones are all kind of all over the place like we invested in Cleveland for a little bit as well oh yeah some multi family stuff in Cleveland that that was kind of in the single family phase but as far as like the multif family the retail a lot of that was like in the midwest um in   the in the um in the sun sun Bel area so all over the place and we did like industrial we did retail we did multif family um all all sorts of stuff man on the commercial side and it's good to know that background for you like not that background but like you had the ability to understand and how to structure some of those deals um and so I'd love to I'd love to talk about the structure of funds a little bit because this is sure I'm going to as the question that I think like everybody wants to ask an SEC attorney about the   difference between a 506b and a 506c and then what constitutes like having that pre-existing relationship right because like if you have a 506b or a 506c there's certain stipulations but those are the two most common right like 90% of funds are 506 BS or 506 C's and so and if I'm wrong just just let me know but I believe that's like the statistic and and with those what constitutes the differences and then the pre-existing relationship part is one that a lot of people have questions about for sure man   yeah you're spot on so far I mean 506b I like to Remember by buddy so it's typically going to be a buddy right like yeah you have to have so the rule isn't that you have to have a pre-existing substantive relationship the rule is you're not allowed to solicit or advertise that's the rule and the way that you show that is by having a pre-existing substantive relationship with those investors so that that's a little bit of a Nuance there the rule is really you can't or advertised you can't go on Facebook and talk about it you   can't take out Google ads and and put it out there you can't even talk about it really to strangers and invite them into your deals you have to have that pre-existing substantive relationship because otherwise think about it well how would they know about your deal if you didn't right like that's that's kind of the the mindset there so yeah be but the the advantage there of course is that you're allowed to bring in 35 non-accredited investors so that's why people go with the 506b route number one   you can bring in a limited number of non-accredited investors uh number two there's there's less requirements for you as the uh fund manager or the syndicator the capital raiser on proving if they're accredited or not because they just self-certify so those are really the two big reasons you would choose a 506b versus a 506c which you can remember that by community so it's a bigger pool of people all right it's 506c for Community those folks when you have that exemption then you can go out there to your community you can solicit   you can advertise you can put it on Facebook you can put it out there in your m mind you go speak on stage and say hey guys come invest in my deal you can do whatever you want really it gives you the freedom to operate and not feel like oh am I doing something wrong but obviously the big thing there is accredited investors only so if you choose that 6C exemption you're only allowed to bring in accredited investors and they're all you're also going to have to take reasonable steps to verify that and that's typically through uh a   third party vendor or through that Investor's attorney or uh CPA that's going to write them a letter that says that they're qualified yeah which typically and you and not typically but like this is why you see even older more established funds go with a B because it's easier to just bring them in so they don't have to do all that stuff yeah what you see is they'll do a 506b but they won't allow uh non accredited investors in so it'll be 506b but only allow accredited investors so that they don't have to they don't they can   self-certify yeah which is makes it just a whole lot easier of paperwork standpoint so then uh that's which is really really interesting so for for me and I'm actually I'm going to just dive in a little bit deeper because there's so much gray here and like you can it's fine if you don't bring any like Clarity to the situation but there's so much gray here because I hear people that are like all right now when you meet that person add it to your calendar that you met that person and then you could talk   to them three weeks later and then like then you could pitch your fun to them and then like then now you're showing the SEC that it's a a pre-existing relationship and then it's like well where the heck is the line if there isn't even a line and then it's like then then what do they what is the expect me to do you know like if somebody introduces me to somebody how the heck do I make sure that I'm compliant in that in that relationship that we have if I know that they even come into the relationship interested in   what I'm doing I want to take a quick second to talk to you guys about something that could completely change the game for you if you're serious about launching and scaling an investment fund if you've ever wanted to start a real estate fund private Equity Fund or syndication but didn't know where to start this is for you fund Founders is giving you free access to foundations 101 a step-by-step course designed to help you to structure your fund the right way so you stay SEC compliant raise Capital like a pro even if you   don't have a network yet scale your fund without constantly chasing investors and avoid costly legal mistakes that can shut you down this is the exact road map successful fund managers use to launch manage and raise capital for their funds without wasting time or money and the best part it's completely free go to funds onf fire.com back/ Founders or click the links in the notes to get instant access to the fund Foundation 101 course don't miss this if you're serious about raising capital and growing your fund this is where you   start again that's funds onf fire.com Founders or click the link in the notes now let's get back to the show yeah uh pre-existing uh actually just means pre-existing the offering so pre-existing your syndication pre-existing your fund so that makes it a little bit difficult when you've got let's say an evergreen fund right it's like well you got that offering open forever right so you can't even bring anybody in after you've opened it um that you don't already know but there is a there is a kind of a loophole I'll   call it it's not really a loophole it's it's actually a regulation but you can actually convert um a 506b to a 506c now you didn't used to be able to do that but I think that pass um maybe like two or three years ago where you can convert the 506b to the 506c now you can't go back after that but once you make that conversion you know get all your 506b investors in if you want to fill that 35 non accredited pool and then convert it to a see you can do that and then you can go out you can solc it you can   advertise you can talk about it you can bring in strangers yeah now that's really interesting too well and I do know that I think you just have to close subscription for like 24 hours right or something like that and then you can open back up you really just have yeah there's not really a Time requirement you'll hear something you you'll hear where there's like a cooling off period and they'll say 30 days 60 days but it really just comes down to closing that first offering because it's separate   that 506 B exemption offering and then opening that new C offering and just to be safe because again we're dealing with Securities it's always gray maybe give it that 30 days to cool off and then open up that 506c and then you're good to go and you have to refile like a form D and everything like that you do okay you do okay cool I wonder if you're your blue skies you can use the same documents but You' need a new form D yeah okay cool all right very interesting so that's cool to know too so I use a platform and I think we've   talked about it briefly called aester and I'm a big fan because it's a customizable fund they actually don't I think because of the nature of the customizable fund they actually said that I can't close down my be and open back up as a c just by nature of that type of fund and I thought that was really interesting and I know you and I have talked about potentially chopping up like what the heck is the I I think I sent you the stuff for it I can't remember but uh yeah I think so yeah talking about that customizable fund   because it sounds like um you know there's different fund models there's um there are the reg d506 B and C's there's reg CF reg A's and then you also run into like syndications and then you have fun of funds right and so it sounds like and for you you've kind of done all of them I think oh yeah but right now you're really focused on one major one right is that what you like so the fund that you currently operate and you're running uh I'd love to hear a little bit more about that yeah for sure so just to   comment on the the aester fund you know it's it's a kind of a new product right the customizable fund it's pretty new it hasn't really been tested on the legal side quite yet it's pretty complicated right like complicated from well what it spits out is simple right they say Hey you create this Evergreen fund and then you get you know each investor only gets 1 K1 even though they might be invested across a bunch of deals things like that which is great um but you lose that flexibility so I don't know the the   intricacies of it but you know you can imagine you've got this this customizable fund that's invested in let's say 10 different other deals or whatever and some of them it's acting as a fun of fund some of them it's acting as u a lead sponsor or all these different things so trying to convert that to a 506b from a or 506b to a 506c I can see where you can run into some complications there it might not be possible yeah and I think so because the structure sorry the structure of it they tell me what makes it customizable is   the fact that like our investors can log in and I don't actually like I have an overarching PPM they log in and they choose the their investment that they want to I'm not telling them the investment that they have to like invest into they read the deal disclosures and decide decide that that's what they want where they want to allocate their money to which allows for for the customizability of this type of model so I think like that's where converting it to a c would be yeah what you're saying for sure y that's that's kind of the   defining I guess piece of that customizable fund is that investor actually gets to pick and choose within your fund that you created where they invest um and that actually I can see where that why they do that I mean it's a it's a great concept but also that keeps you from actually making any decisions as the fund manager so that keeps you out of some certain regulations I'm like hey this is what we offer yep you can look at the deal disclosures and decide on where you want but like they could and this is like one   of the things that they like is I can say oh you could you could essentially diversify your portfolio within one fund because you could choose this one this one this one this one but you choose how much you want to go into there so that's that is a very interesting model and so that's really cool um or like yeah the investor chooses it yep the investor chooses it and yeah and and I'll you know that contrast to what you're alluding to which is an SPV fund of fund so that's what we do over at tribe vest   in full disclosure I'm Chief legal officer and a and a shareholder of tribe vest um so I'm a little bit biased and aester is you know we don't like to call him a competitor honestly they do fund of funds and we do fund of funds is like the overarching product but it's completely different you know one situation which why I brought it up it's the only reason why I brought it up because I'm excited to dive into tribe vest and what you guys offer um because this is not a pitch for tribe vest and like I didn't even know about I did know   I've heard of trivest but didn't even know you were a part of it before this podcast but I love hearing what you're a part of and that's why I want to dive into that a little bit because I think it's cool yeah and I like it it it might be a good to kind of lay it out right you've got these customizable fun of funds out there avor is really the only one offering them there's a couple other uh groups out there that are going to be offering them soon you can actually go to a Securities attorney and they can   put it together for you as well um and yeah and then you've got the SPV fun of fund again you can go through triest or you can SPV just for clarity special right special purpose vehicle or single purpose vehicle kind of either either one really applies then you've got your typical discretionary fund which you would go directly to a Securities attorney and that's where you're actually making some decisions you're saying okay I'm going to raise 10 million bucks and I'm going to invest in Deal one two three four five six seven   eight um and you're kind of making those decisions and there's a lot of rules and regulations that you've got to abide by to be able to do that without a license but anyways back to the SPV the single-purpose vehicle instead of a customizable fund where you know the investor is making the decision and you as the fund manager in you know you make all these different things Avail all these different Investments available the SPV is designed as a single purpose vehicle to invest in one single deal so   if there's a Target deal let's say a 200 unit multif family property in San Antonio um we're going to spin up an SPV for you to invest as a passive investor into that Target deal and that's it it's super simple it's super contained it's not complicated it it just keeps everything compartmentalized both from an asset protection standpoint and from visibility right you're going to know as the fund manager and as the investor exactly what you're investing in what you're how you're going to get paid what   your projective returns are and it doesn't really get mudded by other Investments and this is what I CU I've talked to other SEC attorneys and they've talked about it's funny they've talked about how rare what I've done so I've like maxed out my 506b on a my first fund being a blind fund and they were like that's super rare because you're saying hey just trust me but what you guys are saying what you're doing is saying hey this is the specific and that makes it a lot easier to raise Capital because like you said ton more   transparency they know what they're investing into and so for people starting out that's probably the route that they want to start with is something where they can bring transparency and then the investors that they're coming in know exactly what they're investing into that's right de yeah what you did Devon was incredible like it's really difficult to do most people don't start there they can't start there they don't have the ability to um to be able to build that up that level of trust and track record prior to   you launching the fund that's why you're able to do it but most people can't do it most people have to get their first few in the door by showing the investors hey this is the exact deal that you're going to invest in and you're getting you're going to be a part of and they can do their own due diligence and underwriting and those sorts of things and they're say oh yes I believe in that property or that deal and I also believe in you as the the fund manager or the syndicator and it's easier to raise   Capital that way as opposed to a blind pool fund where it's like hey just give me your money and we're going to invest in something that looks like this and yeah exactly exactly so I actually I want to dive into more into tribe vests cuz like so where does the benefit come in because like somebody can just go and get with an SEC attorney and create their own SPV and and kind of go that route but where's the benefit of somebody coming in and working with tribe vest like why I mean honestly like I please I like tell me like why have   you invested into it why do you believe in it so much and then yeah tell me a little bit more about it man yeah because it it just makes everything super simple and super contained and we handle everything so if you go to an SEC attorney like myself I'm going to come in and I'm going to I'm going to draft your offering documents I'm going to file your exemptions do your blue sky filings and that's it and I I'm going to wipe my hands of it and I'll say you know good luck you know more than that I'll help you out of yeah exactly I'm   going to charge you a lot of money I'm going to charge you at least 25k right Tri vest includes everything that you could possibly imagine so all these different parts that you would have to put together as a capital aggregator TR vest handles so that includes not just the offering documents the legal stuff the filing of the exemptions and the blue sky filings but we're going to file for your entity we're going to get your EIN we're going to be your registered agent we are going to uh onboard your   investors so we're going to act like an like an investor relations person on your team so all you do is send us your list of investors and we start reaching out we send them the docs we walk them through how to sign and get them through the signing ceremony we hound them or we call it hurting the cats to get them to actually fund the deal cuz sometimes people get cold feet so bug the hell out of them yep bug the hell out of them until they make that wire we do all that we do the uh the accounting in your k1s   we configure your cap table very cool we do your distributions we open your business banking account we do uh everything on the back end uh we've got the investor dashboard or investor portal that you can use which alone is you know you're going to pay $500 a month at minimum for that by itself so it it's incredible and we do it at an incredible price and I mean we're not we're very transparent about that it's $5,000 upfront and then $2,000 a year annually and that comes with docs and everything that comes with docks and   everything there's just you can't be beat I mean it literally can't be beat and the other thing is the speed so as soon as you sign the greenl docks which is basically just like hey you agree to the services that we're going to provide we will have you raising capital in five business days no way man that's really cool that's fantastic if you come to to me if you come to me as a security attorney I've got that hat on you know we're not doing in 5 days I'll tell you that now how much education do you help   with because I tell people all the time like here's the questions you should have beforehand because your SEC like your attorney will be the most expensive education you have ever paid for if you don't have that information beforehand so like what what type of because they'll charge you like if you don't know if you want a 506b or 506 C you don't know if you if you want your waterfall this way if you want this and you're just asking questions they're going to charge you by the hour to ask those questions and so for you like how   much help do you guys help for people who are like I've never started a fund I'm really looking forward to starting this but I don't know where to go what does that look like for you guys yeah I mean for tribe vest we're putting together some modules actually right now we're going to roll them out literally before the end of the year which will be fantastic because we're going to share that with with the world you're going to be able to self-educate on what is a fun to fund how does that look like in the   fundraising ecosystem like you know what is a preferred return what is the profits what kind of fees can you charge all kind of the nuts and bolts that you need to know we're going to have that out there so soon enough that'll be available to the public and that'll be a huge value ad and huge help for us as well because we don't have to educate one-on-one anymore as a Securities attorney I I will advise on people I mean I'm I'm happy I'm I'm more of a mentor and a coach when it comes to that sort of stuff and I'll I'll be like look   attorney hat off right now I'm going to tell you this and here's kind of your gray area and that sort of thing so you know I I I think I get into those sorts of things a little bit more than most attorneys will um but if you go to like a a large Law Firm or even a regional Law Firm they're they're going to charge you per hour and that's going to be anywhere between you know $400 to $1,500 an hour yeah there's no doubt there's there's no doubt so and this is really interesting because one of the questions   that I had just going into this um and not even knowing about uh the not even knowing about tribe vest and and all of that is what have you seen as far as like trends that you're seeing in the industry right now because Trends seem to be changing one just even I I'm a disruptor you're it seems like you're a disruptor of Industries and we're trying to disrupt this huge investment fund industry um but it seems like there's being like there's different type of offerings there different structures there's different   things that people are doing what are some of the trends that you're seeing that people are kind of pressing against or starting in as far as funds as a whole you seeing that being the case of being become more common yeah I mean so like biggest picture right is trying to get these types of alternative Investments to the masses because most wealthy people even rich people whatever you want to call them that have some Expendable income that want to invest the only thing they know are 401ks stock market mutual funds   and those sorts of things and they we just need to get that out there and I think you're seeing a trend towards that I think bringing in more people that want to raise capital and start a capital raising business is how you do it right because they've already got their built-in networks and then those networks know other people and and it kind of spiderwebs out from there so that's that's kind of the biggest picture trend is just trying to see well we're seeing you know alternative investments just become more available   to the masses second you're seeing the industry go away from the CP model which I like to say the cgp model is dead and you're seeing people turn to the fun of funds route yeah because the cgp model has just been abused if you do it the right way if you're actually an active partner and you're actually participating in the meetings and and decid on Asset Management typee decisions then all good that's how it's supposed to be but when you're just raising capital and not doing anything else that's when the CP model gets   abused and it's not just oh well you shouldn't do that it's illegal it's plain and simple illegal so that was like the conversation I'm telling you when um I was having the conversation with that guy at my at my Mastermind and he was like we're doing this and I go like stop and he's like haa and I go no no it's illegal and he's like oh haha and I'm like no no like prison illegal and they I feel like just people don't understand the severity because they feel like what's wrong with it it's not that bad and it's like no no it's   illegal yeah and you know that this is just what happens right like you just kind of everybody just pushes boundaries pushes boundaries and you know fortunately or unfortunately however you want to look at it the industry's been fantastic for a long time right the real estate industry's went up since the the crash in 2009 2008 all the way until really covid and that was just a blip and then it took off again and then B basically up until last year 2023 is when you started seeing it kind of take   a nose dive a little bit because of interest rates and not because of the actual state of the market but the interest rates but either way it started going down you started seeing some people get in trouble but all along the way on that rise up all the investors have been happy he's suing anybody because they've been getting their returns and they've been everybody's been crushing it and even if you're a terrible operator you've still been crushing it because the market saved you and nobody's getting sued so it's all   good until it's not and then you've seen in yeah and then you see in 2023 you see you know potential foreclosures and workouts and you know Capital calls things like that investors aren't happy and we're in America and people are like yo how can I get my money back well you try to sue somebody and that's when you start seeing some of these things where the cgp model was abused or people weren't raising Capital the right way or they didn't f exemptions all those sorts of legal things that nobody really   worried about because everything was great start coming up and you're you're seeing that now so you're seeing that shift away from the CP model to the fund of funds model because the fund of funds model is compliant obviously if you do it the right way but it's more compliant and it's always been the answer but at the end of the day it's expensive it's more complicated you've got more attorneys you've got a whole separate offering all these different things that you have to take into account and people   were like I'm not doing that but now we're kind of forced into having to do that and that's where you know tribe vest and aester and some other folks are coming in and having coming up with solutions for that yeah that's really cool um because one one more thing I'm really curious on that you've seen because I feel like there is a fairly irreg irregulate asset you know coming into a very regulated um like structure right so one the things I'm talking about is like the rise of crypto in these crypto funds and these blockchains   based funds have you seen that start to affect like the legal landscape of funds and the formation that people have of that and the way that people are thinking through that and even how the SEC is starting to figure that out and uh and stuff like that have you seen like an emergence of more of those blockchainbased funds I have yeah and not just like strictly you know blockchain and and crypto but also just spin-offs of that right like you saw tokenized real estate was a big thing for a little while it's kind of turned   down a little bit but that was huge that was like I was crazy that you could be like I'm tokenizing my my bathroom and when I sell it you get like that much of the footage and the appreciation it's like what that's crazy yeah so it's kind of cooled out a little bit you know I don't I honestly don't follow that that closely just because I know that it just changes so fast and especially now that we've got the new Administration in here you're probably going to see a lot more loosening of that which would be good   for us but yeah I mean you know you're going to see that right like CU we are just on the the precipice of just crazy technological advancements from tokenized Real Estate to you know crypto to AI like all this stuff is going to like this landscape 5 years from now is is going to be unrecognizable yeah that's it's it really will just because of the way that contract law is going to go from the from the from um from I guess blockchain based like because like you'll see that where the blockchain will take a lot of   those uh a lot of that aspect and change it and flip it on its head so it's going to be super interesting to see how that goes man I want to respect honor your time I appreciate you being on I guess one thing I guess one more question that I have before we kind of go into the exit if there's somebody that's thinking about starting a fund because what you were saying earlier really there's only two main people if I'm fully transparent I want to be able to be uh the voice of funds for minorities and women in this   country because like all those other they all the white dudes they could have all the other white dudes that's fine with me but there's a lot there's a there's a huge disparity I heard uh don peees once say and this has changed my my my thought my process like my mindset ever since he says in the history of America there has been $94 trillion to come in through private equity and real estate in the history of American and history of America 8.3% of that had no sorry 1.7% of that have gone to minorities and women that means 98.3% of   that has gone to white men and so there's this massive disparity between access to education like you're saying access to Capital Access to I think there there's this quote that says the world equally distributes talent but doesn't equally distribute opportunity and so there's this huge disparity of opportunity of people that look like me and look like you and look like women around this country that I would love to make sure we're the voice for and so for people who don't have a lot of that education one what's a big piece of   advice that you would give them and when they're starting to think about starting a fund because I think like if I'm full of transparency most of the people I talked to and I told you I saved from prison there were black dudes they're just trying to do the right thing but don't have the education to do the right thing and so for for that like what what's a big piece of advice you would give people that are thinking like I think I want to start a fund um what should I look out for how expensive does   it matter because we've talked about a better solution for how expensive it can be but what's the thing that they should be looking out for yeah I mean you know right off the bat like be confident and don't be intimidated because I think some people yep in those groups that you described might feel a little discouraged because of that because you walk into a room that is maybe all fund managers or all capital risers or you know those types of people and you're like who I don't look like everybody   else so maybe I don't belong here or maybe your confidence goes from here to to hear and you're like and then and then you come off that way right like you've got to you got to step into that room with confidence and a lot of a lot of that comes down to self-education right like it comes from education and it's out there now I mean we mentioned that there's only a few really good sources but you can still piece it together I mean you can find anything on YouTube University just to at least get the you know being able to talk to talk   and walk the walk and and feel confident doing that so just get educated to start get that Baseline and then get out there and just be be confident like I said don't be intimidated don't feel like you don't belong because we got to get folks out there that are that are doing it from from those groups yep that's right man well I appreciate it Seth where can people find you where can people hire you where can people join what you're doing um because I think that they should I'm a big believer in you and   what you're doing and I'm excited for for all those things appreciate it man I usually update all my Links at Seth Paul bradley.com so you can find everything there I'm all over social media so all my handles are Seth Bradley Esq cool man I appreciate you thankful for your time thankful for your friendship I really look forward to uh to Growing growing together man it's fun to see other people that like we're about the same age I don't know you look like you're in your 20s but you're you're not I know   that but like uh but like like for us to just rise together on this man and so I'm thankful for this journey that we're on together and I appreciate you being here today love it brother appreciate you yes sir talk to you later man wow I hope you enjoyed that I have a quick favor if you've been enjoying the show there's one simple way you can support us and it's by hitting that follow button or that subscribe button on the app app you're listening to I want to level this podcast up in every single   way possible bringing you more value incredible content and guests and new strategies Following the show and leaving a quick review goes a really long way in helping us to grow and continue to deliver top tier content it's the only free thing I'll ever ask you to do and it makes a bigger impact than I can possibly put into words so thank you for being a part of this journey and I'll definitely catch you on the next episode to great success and greater impact peace Links from the Show and Guest Info and Links: https://www.youtube.com/watch?v=P-w_w6WAUVw https://www.instagram.com/p/DHbcSjGT7Jn/ https://tinyurl.com/FFfoundations-YT https://pfcapital.us/ Seth Bradley's Links: https://x.com/sethbradleyesq https://www.youtube.com/@sethbradleyesq www.facebook.com/sethbradleyesq https://www.threads.com/@sethbradleyesq https://www.instagram.com/sethbradleyesq/ https://www.linkedin.com/in/sethbradleyesq/ https://passiveincomeattorney.com/seth-bradley/ https://www.biggerpockets.com/users/sethbradleyesq https://medium.com/@sethbradleyesq https://www.tiktok.com/@sethbradleyesq?lang=en Devin Robinson's Links: https://www.instagram.com/devin.robinson1/ https://www.linkedin.com/in/devin-robinson-997ba040/ https://www.facebook.com/drob737/ https://x.com/devinrobinson37 https://www.threads.com/@devin.robinson1 https://www.tiktok.com/@devin.robinson1  

Investor Fuel Real Estate Investing Mastermind - Audio Version
Unlocking Real Estate Success: Gene Trowbridge on Syndication Secrets

Investor Fuel Real Estate Investing Mastermind - Audio Version

Play Episode Listen Later Jul 4, 2025 32:29


In this conversation, Gene Trowbridge, a seasoned real estate attorney and syndicator, shares his journey from being a syndicator to becoming a legal expert in real estate securities law. He discusses the intricacies of real estate syndication, the importance of understanding securities laws, and the dynamics of raising capital through private placements. Gene emphasizes the significance of networking in the real estate industry and the pressures faced by syndicators in ensuring profitable investments. He also highlights the differences between public offerings and private placements, providing insights into the legalities involved in forming syndications and the impact of the Jobs Act on raising private money. Professional Real Estate Investors - How we can help you: Investor Fuel Mastermind:  Learn more about the Investor Fuel Mastermind, including 100% deal financing, massive discounts from vendors and sponsors you're already using, our world class community of over 150 members, and SO much more here: http://www.investorfuel.com/apply   Investor Machine Marketing Partnership:  Are you looking for consistent, high quality lead generation? Investor Machine is America's #1 lead generation service professional investors. Investor Machine provides true ‘white glove' support to help you build the perfect marketing plan, then we'll execute it for you…talking and working together on an ongoing basis to help you hit YOUR goals! Learn more here: http://www.investormachine.com   Coaching with Mike Hambright:  Interested in 1 on 1 coaching with Mike Hambright? Mike coaches entrepreneurs looking to level up, build coaching or service based businesses (Mike runs multiple 7 and 8 figure a year businesses), building a coaching program and more. Learn more here: https://investorfuel.com/coachingwithmike   Attend a Vacation/Mastermind Retreat with Mike Hambright: Interested in joining a “mini-mastermind” with Mike and his private clients on an upcoming “Retreat”, either at locations like Cabo San Lucas, Napa, Park City ski trip, Yellowstone, or even at Mike's East Texas “Big H Ranch”? Learn more here: http://www.investorfuel.com/retreat   Property Insurance: Join the largest and most investor friendly property insurance provider in 2 minutes. Free to join, and insure all your flips and rentals within minutes! There is NO easier insurance provider on the planet (turn insurance on or off in 1 minute without talking to anyone!), and there's no 15-30% agent mark up through this platform!  Register here: https://myinvestorinsurance.com/   New Real Estate Investors - How we can work together: Investor Fuel Club (Coaching and Deal Partner Community): Looking to kickstart your real estate investing career? Join our one of a kind Coaching Community, Investor Fuel Club, where you'll get trained by some of the best real estate investors in America, and partner with them on deals! You don't need $ for deals…we'll partner with you and hold your hand along the way! Learn More here: http://www.investorfuel.com/club   —--------------------

The Academy Presents podcast
Avoid These SEC Pitfalls in Real Estate with Dugan Kelley

The Academy Presents podcast

Play Episode Listen Later May 19, 2025 24:06


What do most new investors overlook when raising capital, and how can a single missing document expose the entire deal?   In this episode, Dugan Kelley breaks down the legal side of raising money for real estate deals, especially under Rule 506(b) exemptions. Dugan shares a clear, actionable breakdown of the syndication process, how securities laws apply, and the key legal structures every investor should understand. With over $4 billion in structured transactions under his belt, he walks through the must-have documents, how to avoid legal pitfalls, and the significance of understanding the difference between accredited and sophisticated investors. Whether you're syndicating your first deal or investing passively, this episode outlines what you need to know to stay compliant and protect your capital.     [00:01 - 05:42] Syndication Basics: What Are You Selling? The importance of understanding whether you're selling a security Why real estate syndication usually involves securities law The role of passive investors and operator equity in typical deal structures   [05:42 - 10:53] Securities Law 101: Are You in the SEC's Jurisdiction? What defines a security in real estate transactions Why even small deals may trigger SEC oversight The need for a Private Placement Memorandum (PPM) in most syndications   [10:54 - 15:27] The Six Ingredients Every PPM Must Have What the SEC expects in a compliant real estate offering The importance of risk disclosures, business plans, and subscription agreements Why a company agreement governs everything after the close   [15:28 - 20:33] Who Qualifies to Invest: Accredited vs. Sophisticated What makes someone an accredited investor (net worth or income thresholds) How recent SEC updates have expanded access to more people The significance of entity-based accreditation   [20:34 - 24:05] Sophisticated Investors: A Gray Area You Need to Understand What defines a sophisticated investor and how to evaluate suitability Why Rule 506(b) limits the number of these investors to 35 The risk tolerance, intent, and understanding needed to qualify       Connect with Dugan:   LinkedIn: https://www.linkedin.com/in/dugan-kelley-0019b435/     Key Quotes:   “If your purpose is to raise capital and the buyer's purpose is to receive a profit, you're selling a security.” — Dugan Kelley   “If your deal is missing a company agreement or key disclosures, that's a red flag—don't invest.” — Dugan Kelley     Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!

Law of Code
#145 - How Peer-to-Peer transactions are regulated differently online vs. in-person, with Tuongvy Le

Law of Code

Play Episode Listen Later Apr 30, 2025 38:08


If the law were truly “technology-neutral,” what would that look like in practice for a P2P securities transaction via smart contracts?In this episode, Jacob Robinson is joined by Tuongvy Le (@TuongvyLe12), who has served as General Counsel of Anchorage Digital, Partner and Head of Regulatory and Policy at Bain Capital Crypto, and Deputy GC and Compliance Officer at Worldcoin. She also spent almost six years at the SEC as Senior Counsel in the Division of Enforcement and Chief Counsel of the Legislative and Intergovernmental Affairs Office.Together, they discuss her recent Fortune article on why the SEC needs to take a hands-off approach to peer-to-peer transactions (link) and market structure history and regulation (link).Timestamps:➡️ 00:00 Intro➡️ 0:46 Sponsor: Day One Law➡️ 03:43 Peer-to-Peer Transactions: Analog vs. Digital➡️ 06:36 The Intersection of DeFi and Securities Law➡️ 12:40 Industry Self-Regulation and Best Practices➡️ 15:40 Understanding Market Structure: A Historical Context➡️ 24:31 Designing a New Market Structure for Crypto➡️ 32:25 The SEC's Evolving Stance on Crypto InnovationThis episode is brought to you by Day One Law — a boutique law firm helping crypto startups navigate complex legal challenges. Visit https://www.dayonelaw.xyz/ to get in touch.Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

Investor Fuel Real Estate Investing Mastermind - Audio Version
Scale Smarter, Not Harder: The Ultimate Guide to Using OPM

Investor Fuel Real Estate Investing Mastermind - Audio Version

Play Episode Listen Later Apr 18, 2025 35:09


In this conversation, Brett McCollum and Bethany LaFlam discuss the intricacies of scaling real estate investments using other people's money (OPM). Bethany shares her journey from law to real estate syndication, emphasizing the importance of legal compliance and effective communication with investors. They explore the challenges posed by market shifts and the necessity of maintaining transparency with investors. Bethany also introduces her subscription-based model for legal services and her new book, 'The Power of OPE,' which focuses on leveraging other people's resources for business growth.   Professional Real Estate Investors - How we can help you: Investor Fuel Mastermind:  Learn more about the Investor Fuel Mastermind, including 100% deal financing, massive discounts from vendors and sponsors you're already using, our world class community of over 150 members, and SO much more here: http://www.investorfuel.com/apply   Investor Machine Marketing Partnership:  Are you looking for consistent, high quality lead generation? Investor Machine is America's #1 lead generation service professional investors. Investor Machine provides true ‘white glove' support to help you build the perfect marketing plan, then we'll execute it for you…talking and working together on an ongoing basis to help you hit YOUR goals! Learn more here: http://www.investormachine.com   Coaching with Mike Hambright:  Interested in 1 on 1 coaching with Mike Hambright? Mike coaches entrepreneurs looking to level up, build coaching or service based businesses (Mike runs multiple 7 and 8 figure a year businesses), building a coaching program and more. Learn more here: https://investorfuel.com/coachingwithmike   Attend a Vacation/Mastermind Retreat with Mike Hambright: Interested in joining a “mini-mastermind” with Mike and his private clients on an upcoming “Retreat”, either at locations like Cabo San Lucas, Napa, Park City ski trip, Yellowstone, or even at Mike's East Texas “Big H Ranch”? Learn more here: http://www.investorfuel.com/retreat   Property Insurance: Join the largest and most investor friendly property insurance provider in 2 minutes. Free to join, and insure all your flips and rentals within minutes! There is NO easier insurance provider on the planet (turn insurance on or off in 1 minute without talking to anyone!), and there's no 15-30% agent mark up through this platform!  Register here: https://myinvestorinsurance.com/   New Real Estate Investors - How we can work together: Investor Fuel Club (Coaching and Deal Partner Community): Looking to kickstart your real estate investing career? Join our one of a kind Coaching Community, Investor Fuel Club, where you'll get trained by some of the best real estate investors in America, and partner with them on deals! You don't need $ for deals…we'll partner with you and hold your hand along the way! Learn More here: http://www.investorfuel.com/club   —--------------------

Heart Of The Matter - A Podcast On Legal Developments From Around The World
Reforming Insider Trading: Enhancing Integrity and Fairness in U.S. Securities Law

Heart Of The Matter - A Podcast On Legal Developments From Around The World

Play Episode Listen Later Mar 23, 2025 33:48


Discover why the U.S. securities laws, despite being considered the global "gold standard," have significant flaws in their insider trading framework. Professor Marc Steinberg reveals how the current system, based on vague fiduciary duty concepts, creates unfair outcomes and legal uncertainties.Drawing from his book "Rethinking Securities Law," Steinberg highlights the stark contrast between U.S. regulations and other developed markets. While other jurisdictions clearly prohibit trading on material non-public information, the U.S. approach leaves concerning loopholes, particularly in M&A situations.Key insights include:The need for a comprehensive "access" approach to insider trading rulesProblems with SEC's extraterritorial enforcementTensions between SEC regulations and Supreme Court decisionsComparison with more effective EU and Singapore modelsReady to dive deep into the complexities of securities law and understand why reform is crucial? Listen to this eye-opening episode that challenges everything you thought you knew about U.S. insider trading regulations.Our GuestMarc I. SteinbergMarc I. Steinberg is the Radford Professor of Law at the SMU School of Law. He has served as a Professor, Fellow, or has lectured at several other prominent universities, including the University of Cambridge, Oxford University, King's College London, University of Hong Kong, and University of Pennsylvania.  Professor Steinberg was an attorney for the U.S. Securities and Exchange Commission (SEC). He also has been retained as an expert witness in several high profile cases.  Professor Steinberg is the most prolific author of securities law scholarship in the United States, having authored more than 150 law review articles as well as approximately 50 books. He is editor-in-chief of The International Lawyer and The Securities Regulation Law Journal.  Our HostAjay ShamdasaniAjay Shamdasani is a veteran writer, editor and researcher based in Hong Kong. He holds an AB in history and government from Ripon College, JD and MIPCT degrees from the University of New Hampshire Franklin Pierce Law School, and an LLM in financial regulation from the Illinois Institute of Technology's Chicago-Kent College of Law.His 15-year long career as a financial and legal journalist began as deputy editor of A Plus magazine – the journal of the Hong Kong Institute of Certified Public Accountants. From there, he assumed the helm of Macau Business magazine as its editor-in-chief, and later, joined Asialaw magazine as its deputy editor.More recently, he spent close to seven years as a senior correspondent with Thomson Reuters' subscription-based trade-wire service Regulatory Intelligence/Compliance Complete (previously called Complinet) in Hong Kong. While there, he covered regulatory developments in that city, as well as Singapore, India and South Korea.

Crazy Wisdom
Episode #419: Bitcoin, Bureaucracy, and the AI Takeover: A No-BS Look at What's Next with Terrance Yang

Crazy Wisdom

Play Episode Listen Later Dec 20, 2024 70:13


On this episode of the Crazy Wisdom Podcast, host Stewart Alsop sits down with returning guest Terrance Yang for a wide-ranging discussion on critical financial and societal issues. They explore the state of U.S. federal debt, drawing comparisons to historical periods like World War II, and consider modern-day parallels with Argentina's economic struggles and the election of Javier Milei. The conversation shifts to broader reflections on government waste, regulatory overreach, and the potential for AI to streamline bureaucracy and disrupt traditional finance. Terrance shares sharp insights on Bitcoin as a long-term investment and critiques other cryptocurrencies as vehicles for insider speculation. The episode also touches on market-making, trading psychology, and the rise of autonomous vehicles, hinting at the transformative impact of AI-driven innovation. You can connect with Terrance through his LinkedIn profile.Check out this GPT we trained on the conversation!Timestamps00:00 Introduction and Guest Welcome00:35 Discussing U.S. Debt and Financial Insights02:14 Historical Context and Comparisons04:38 Libertarian Governments and Economic Policies08:55 Government Spending and Regulation18:21 Homelessness and Urban Challenges23:06 Bitcoin and Cryptocurrency Insights26:22 Investment Strategies and Market Dynamics33:28 AI and Future Investments34:06 AI Market Predictions and Amazon's Strategy36:37 The Struggles of Big Tech with AI Integration38:21 The Future of Self-Driving and Flying Cars42:22 Investment Advice: Bitcoin and AI53:52 Argentina's Economic Lessons01:04:23 The Role of AI in Government and Society01:08:12 Conclusion and Contact InformationKey Insights1. The U.S. Debt Crisis Has Parallels to World War II, But the Path Forward is UnclearTerrance Yang highlights how the current U.S. debt situation resembles the debt spike seen during World War II. Back then, the U.S. "grew its way out" of debt as GDP growth outpaced debt growth. However, today's environment is more complex, with federal net outlays growing at an unsustainable rate. While the debt-to-GDP ratio appears alarming, Yang suggests that focusing on cash flow (tax revenue minus expenditures) as a percentage of GDP offers a more nuanced view. The big question is whether the U.S. can grow its way out of debt again or if fundamental spending cuts are required.2. Bitcoin is a Long-Term Bet, But Most Other Cryptos Are Insider GamesYang views Bitcoin as the only viable long-term store of value among cryptocurrencies, while labeling most altcoins as speculative vehicles designed to "pump and dump" retail investors. He advises listeners to avoid trading Bitcoin due to the dominance of market makers like Goldman Sachs, who use superior data and trading models. Instead, he recommends dollar-cost averaging and focusing on the long-term potential of Bitcoin as "digital gold." Yang cautions against chasing short-term gains in crypto, comparing it to amateur players trying to compete with professional athletes.3. Regulatory Overreach is Stifling American Efficiency, But AI Could Change ThatThe conversation critiques the inefficiencies in U.S. government bureaucracy, using California's high-speed rail project as a cautionary tale of regulatory bloat and government waste. Terrance Yang believes AI has the potential to streamline government services, automate repetitive tasks, and reduce the need for an ever-expanding workforce. He suggests that as government employees retire, many of their roles could be replaced with AI systems, leading to leaner, more efficient public institutions. This vision echoes similar efficiency models seen in Singapore and other high-performing nations.4. The Rise of AI-Enhanced Legal and Coding ProductivityYang points out how large language models (LLMs) like ChatGPT Pro are already allowing people to reduce their reliance on lawyers and coders. People are saving thousands of dollars in legal fees by using AI to review contracts and analyze legal risks. In coding, AI tools are helping developers find errors, refactor code, and improve efficiency. Yang himself plans to use AI to help document Bitcoin's core code, a project aimed at making the codebase more accessible to non-technical users. This marks a major shift in the accessibility of technical knowledge.5. Trading is a Rigged Game, and Most People Should Stay OutYang compares day trading to amateur athletes trying to compete with NBA stars like LeBron James. Most retail investors are going up against highly sophisticated market makers like Citadel and Jane Street, who have access to superior information, tools, and algorithms. He explains that market makers profit by always being ready to buy and sell, unlike retail traders who get caught up in emotional decision-making. The best option for most people, Yang says, is to avoid trading entirely and instead invest in low-cost index funds, like the Vanguard S&P 500 fund.6. Argentina's Crisis Offers Lessons for the U.S. on Debt and Welfare StatesDrawing on Argentina's economic collapse, the conversation explores how unsustainable welfare policies and out-of-control debt can bring a nation to its knees. Stewart Alsop notes that while Argentina's citizens are acutely aware of their country's fiscal dysfunction, many Americans remain oblivious to similar risks in the U.S. Yang and Alsop highlight that Argentina's reliance on printing pesos mirrors what could happen if the U.S. dollar's dominance weakens. Javier Milei's rise as Argentina's libertarian president signals a possible shift away from this broken system, but the U.S. appears far from having its own "wake-up moment."7. AI-Driven Automation Will Reshape Cities, Transportation, and JobsWaymo's driverless cars, which are already being tested in Los Angeles, represent a fundamental shift in how cities will operate in the future. Yang explains how autonomous vehicles could make traffic "less painful" by allowing passengers to be productive while stuck in slow-moving traffic. This shift will likely spur greater suburbanization as people find it more tolerable to live farther from work. Coupled with AI-driven automation in government and the workforce, the nature of cities and daily life is poised for a profound transformation, with L.A. potentially becoming more livable than it has been in decades.

China Daily Podcast
英语新闻丨涉恒大财务造假!普华永道被重罚

China Daily Podcast

Play Episode Listen Later Sep 19, 2024 3:29


Chinese authorities have slapped 441 million yuan ($62.1 million) in penalties and imposed a six-month business suspension on PwC's auditing unit in the country, after the entity was found to have "covered up and even condoned" fraud at Evergrande Real Estate Group.中国证监会、财政部就普华永道中国审计部门“掩盖甚至纵容”恒大地产财务造假的违法行为,处以罚款4.41亿元人民币(合6,210万美元),并暂停经营业务6个月。The China Securities Regulatory Commission said on Friday that PwC Zhong Tian LLP had failed to exercise due diligence in its audit of Evergrande Real Estate Group, the flagship subsidiary of Evergrande Group.13日,中国证监会表示,普华永道中天会计师事务所在对中国恒大集团旗舰子公司恒大地产集团有限公司进行审计时未勤勉尽责。In May, the CSRC had fined the troubled real estate developer some 4.18 billion yuan for fraudulent bond issuances and false statements.今年5月,中国证监会因其欺诈发行公司债券和虚假记载行为,对陷入困境的恒大地产处以约41.8亿元的罚款。Based on China's Securities Law, the commission confiscated the auditing unit's revenue involved in the Evergrande case of 27.74 million yuan and fined it 297 million yuan — totaling about 325 million yuan, which, according to the commission, was a "record-breaking" punishment against auditing firms.依据《中华人民共和国证券法》,中国证监会没收普华永道涉恒大地产案收入2774万元,罚款2.97亿元,总计约3.25亿元。中国证监会称,这是针对审计公司的“创纪录”处罚。The Ministry of Finance also said on Friday that, in accordance with the law of certified accountants, it had decided to impose a six-month business suspension on PwC Zhong Tian and fined it 116 million yuan, while closing down its Guangzhou office.13日,财政部也表示,依据《中华人民共和国注册会计师法》,决定对普华永道中天处以1.16亿元罚款,暂停经营业务6个月,同时撤销普华永道广州分所。CSRC and the Finance Ministry have examined PwC's role in the Evergrande fraud, in which the developer was found to have engaged in five fraudulent bond issuances based on false statements in the annual reports of 2019 and 2020.中国证监会和财政部已对普华永道在恒大地产欺诈案中扮演的角色进行了审查,发现恒大地产2019年、2020年的年报存在虚假记载,相关5次公司债券发行构成欺诈发行。CSRC said PwC Zhong Tian had violated multiple audit standards with inaccurate working papers and ineffective on-site inspections, failed to detect Evergrande's fraud and issued unqualified audit reports.中国证监会称,普华永道中天违反多项审计准则,审计工作底稿失真,现场走访程序失效,未能发现恒大地产的欺诈行为,并出具了标准无保留意见审计报告。"PwC's actions were not merely simple audit negligence or failure. To some extent, it covered up and even condoned Evergrande Real Estate's financial fraud and fraudulent bond issuances.“普华永道上述行为,不只是简单的审计失职、失效行为,它在一定程度上掩盖甚至纵容了恒大地产财务造假和欺诈发行公司债券。”"The actions severely eroded the foundation of law and integrity, significantly harmed the legitimate rights and interests of investors, seriously undermined market confidence and should be severely punished according to the law," said CSRC.对此,中国证监会表示:“这些行为严重侵蚀法律和诚信基础,严重损害投资者合法权益,严重破坏市场信心,依法应予严惩。”Citing the case, the Finance Ministry said it will continue to enhance supervision and inspection.财政部援引该案例表示,将继续加强监督和检查。"For any discovered cases of accounting and auditing fraud, we will investigate and punish them severely to ensure that regulation has 'teeth and thorns'."“对于发现的任何会计审计造假案件,我们都将严厉查处,确保监管‘长牙带刺'”。PwC issued a statement on its global website to say that PwC Zhong Tian's work in Evergrande's case fell unacceptably below expected standards. It said it respects the regulators' decisions and that it would fully comply with the administrative penalties.普华永道在其全球网站上发表声明称,普华永道中天对恒大地产的审计工作严重低于预期标准,令人无法接受。普华永道尊重监管机构的决定,并将全力遵守行政处罚。Dai Guanchun, a senior capital markets lawyer, said the punishments indicate that Chinese regulators are intensifying their crackdown on violations by capital market intermediary institutions according to law.资本市场资深律师戴冠春表示,这些处罚表明中国监管机构正在依法加强对资本市场中介机构违法违规行为的打击力度。The case could help deter other institutions from misbehavior as it would result in not only financial losses but reputational damage to PwC's China business, Dai added.戴冠春补充道,此案有助于遏制其他机构的不当行为,因为这不仅会给普华永道的中国业务带来经济损失,还会造成声誉受损。

The Scoop
Securities law professor: It's time for Uniswap to 'prepare for war'

The Scoop

Play Episode Listen Later Apr 12, 2024 22:25


Professor J.W. Verret teaches corporate and securities law and financial accounting at George Mason Law School. In this episode of The Scoop,  Verret discusses the potential legal challenges that Uniswap may face from the Securities and Exchange Commission and highlights the similarities between the Coinbase case and the possible claims against Uniswap. Verret says the charges the SEC is likely to bring against Uniswap could include operating as an unlicensed broker dealer, operating an unregistered exchange, and/or selling unregistered securities.

The Angel Next Door
The SEC's Role in Empowering Entrepreneurs and Angel Investors

The Angel Next Door

Play Episode Listen Later Apr 11, 2024 31:05


Are you an aspiring entrepreneur looking to navigate the complex world of small business capital formation, aka raising money? In the latest episode of The Angel Next Door Podcast, host Marcia Dawood engages in an insightful conversation with Stacey Bowers, Director of the Office of the Advocate for Small Business Capital Formation at the Securities and Exchange Commission. Stacey shares her extensive experience, ranging from working in securities law to representing founders and small businesses in raising capital, eventually leading her back to the SEC in a significant role. The episode goes into the crucial role of the Office of Advocacy in amplifying the voices of small businesses and investors to advance their interests in the capital markets.In a stimulating discussion, Stacey unveils the vital functions of the Office of Advocacy, shedding light on its mission to support small businesses, investors, and underrepresented entities. The office undertakes substantial outreach, collects data, and publishes an annual report that encapsulates the challenges and experiences of small businesses and investors. The episode emphasizes the array of educational resources available, including a glossary to demystify legal jargon and a funding roadmap to guide potential entrepreneurs in their capital-raising endeavors. With an emphasis on promoting awareness and engagement, this episode is a must-listen for both aspiring entrepreneurs and angel investors seeking comprehensive insights into small business capital formation and the vital support available through the SEC's Office of Advocacy. To get the latest from Stacey Bowers, you can follow her below!LinkedIn - https://www.linkedin.com/in/stacey-bowers-1a65ba/https://www.sec.gov/news/press-release/2024-32024 SEC Small Business Forum Sign up for Marcia's newsletter to receive tips and the latest on Angel Investing!Website: www.marciadawood.comLearn more about the documentary Show Her the Money: www.showherthemoneymovie.comAnd don't forget to follow us wherever you are!Apple Podcasts: https://pod.link/1586445642.appleSpotify: https://pod.link/1586445642.spotifyLinkedIn: https://www.linkedin.com/company/angel-next-door-podcast/Instagram: https://www.instagram.com/theangelnextdoorpodcast/TikTok: https://www.tiktok.com/@marciadawood

Cambridge Law: Public Lectures from the Faculty of Law
'Rethinking Securities Law': 3CL Lecture

Cambridge Law: Public Lectures from the Faculty of Law

Play Episode Listen Later Oct 11, 2023 32:35


Speaker: Professor Marc I. Steinberg (SMU Dedman School of Law)Abstract: This presentation, based on Professor Steinberg's recent Oxford University Press book Rethinking Securities Law, which was awarded Winner — Best Law Book of 2021 by the American Book Fest Awards, focuses on the need to “rethink” the U.S. securities laws — with particular emphasis on the Securities Act of 1933 and the Securities Exchange Act of 1934 (and as amended). In both transactional and litigation settings, with frequency, U.S. securities law mandates apply that are erratic and antithetical to sound public policy. The objective of this book — and the presentation — is to highlight the deficiencies that exist under the current regimen, address their failings, provide recommendations for rectifying these deficiencies, and set forth a thorough analysis for remediation in order to prescribe a consistent and sound securities law framework. The book has received widespread favorable reviews from both practitioners and academicians. Professor Steinberg will focus on several key subjects that are addressed in the book.3CL runs the 3CL Travers Smith Lunchtime Seminar Series, featuring leading academics from the Faculty, and high-profile practitioners.For more information see the Centre for Corporate and Commercial Law website at http://www.3cl.law.cam.ac.uk/

Cambridge Law: Public Lectures from the Faculty of Law
'Rethinking Securities Law': 3CL Lecture

Cambridge Law: Public Lectures from the Faculty of Law

Play Episode Listen Later Oct 11, 2023 32:35


Speaker: Professor Marc I. Steinberg (SMU Dedman School of Law)Abstract: This presentation, based on Professor Steinberg's recent Oxford University Press book Rethinking Securities Law, which was awarded Winner — Best Law Book of 2021 by the American Book Fest Awards, focuses on the need to “rethink” the U.S. securities laws — with particular emphasis on the Securities Act of 1933 and the Securities Exchange Act of 1934 (and as amended). In both transactional and litigation settings, with frequency, U.S. securities law mandates apply that are erratic and antithetical to sound public policy. The objective of this book — and the presentation — is to highlight the deficiencies that exist under the current regimen, address their failings, provide recommendations for rectifying these deficiencies, and set forth a thorough analysis for remediation in order to prescribe a consistent and sound securities law framework. The book has received widespread favorable reviews from both practitioners and academicians. Professor Steinberg will focus on several key subjects that are addressed in the book.3CL runs the 3CL Travers Smith Lunchtime Seminar Series, featuring leading academics from the Faculty, and high-profile practitioners.For more information see the Centre for Corporate and Commercial Law website at http://www.3cl.law.cam.ac.uk/

IFN OnAir
Islamic Sustainable Finance and Investment Dialogue

IFN OnAir

Play Episode Listen Later Oct 6, 2023 42:17


What represents a blueprint for advancing the transition to a low-carbon economy via effective stakeholder collaboration, regulation, resource allocation, positioning and product innovation in the Omani financial services sector?What are the implications for the Islamic sustainable financial services sector of the introduction of various regulatory taxonomies, frameworks and standards?How will new bond and Sukuk regulations, as part of the executive regulations to the Securities Law, accommodate and facilitate sustainable finance in Oman?What are current tax and operational cost incentive frameworks for the development of Islamic sustainable finance and investment products in Oman? Are they effective, and what more can be done?The juxtaposition facing the GCC: funding the hydrocarbon sector, while simultaneously developing a thriving green and sustainable finance sectorAre we sufficiently capitalizing on the powerful synergies between sustainable finance and Islamic finance and how do we effectively position the sector?What are important criteria in the development of Islamic sustainable finance and investment products, and are we successfully developing products which satisfy both Shariah and ESG requirements?What approaches are large regional institutional investors taking to sustainable finance and investment, and what can be learnt from this?How do we fund clean energy, sustainable activities and social projects in Oman such through an effective, liquid Islamic capital market?How do we continue to measure impact from green and sustainable issuance? What tools are available for issuers and investors for this purpose?Moderator:Luma Saqqaf, CEO, Ajyal Sustainability ConsultingPanelists:Asad Qayyum, Managing Partner, MAQ Legal Kemal Rizadi Arbi, Expert/Advisor, Capital Market Authority, Sultanate of Oman Khalid Al Kayed, CEO, Bank Nizwa Shahariah Shaharudin, President, Saturna Malaysia Talha Ahmed Khan, Country Manager and Head Global Investment Unit, Pak Oman Investment Company Thamer Al Shahry, Partner, Said Al Shahry & Partners

IFN OnAir
Driving the Development of Shariah Compliant Direct Investment and Fund & Asset Management in Oman

IFN OnAir

Play Episode Listen Later Oct 2, 2023 44:42


Building on the success of Shariah compliant real estate investment funds and trusts domiciled in Oman, as well as direct investment into real estate assets in the Sultanate.Opportunities for regional Shariah compliant funds domiciled in Oman: equity, Sukuk and private equity funds.Private equity and venture capital investment — framework enhancements, cross-border and foreign direct investment opportunities.Changes to fund regulatory frameworks resulting from the executive regulations to the Securities Law, and implications for various fund structures.Exploring the potential for the application of Waqf to Islamic funds in Oman.The prospects for Islamic sustainable investing in the Sultanate.Moderator:Mike Tirman, Partner, Ice MillerPanelists:Anand Raghavendran, Head of Asset Management, BankDhofarHassan Ali Ansari, CFO, Takaful OmanSalman Kabani, Sr. Head of Enterprise Risk and Strategy, Bank NizwaShahariah Shaharudin, President, Saturna MalaysiaTalha Ahmed Khan, Country Manager and Head of Global Investment Unit, Pak Oman Investment Company

Administrative Static Podcast
NCLA Asks SCOTUS to Hear Securities Law Appeal with Major 1 st Amendment Implications

Administrative Static Podcast

Play Episode Listen Later Aug 8, 2023 25:00


NCLA Asks SCOTUS to Hear Securities Law Appeal with Major 1st AmendmentImplications NCLA has filed a petition for a writ of certiorari in Lemelson, et al. v. SEC, asking the U.S. Supreme Court to hear a case that poses an important First Amendment issue. May the SEC punish commentary about publicly traded corporations that contains a few purported misstatements or omissions when a jury has cleared the accused of all fraud and deception charges? Surprisingly perhaps, the Supreme Court has never answered this question. So, for now, the SEC punishes such speech freely. Mark describes NCLA's U.S. Supreme Court petition for a writ of certiorari in Lemelson v. SEC. 9th Circuit Hears Arguments in McDonald v. Lawson NCLA Litigation Counsel Jenin Younes discusses the recent oral arguments before the U.S.Court of Appeals for the Ninth Circuit in McDonald v. Lawson, an NCLA amicus case.See omnystudio.com/listener for privacy information.

The Scoop
Landmark XRP ruling could force SEC to settle with Coinbase, says securities law professor

The Scoop

Play Episode Listen Later Jul 15, 2023 26:55


Professor J.W. Verret teaches corporate and securities law and financial accounting at George Mason Law School.  In this episode, Verret analyzes the recent verdict on Ripple's XRP token which concludes that "Ripple's Programmatic Sales of XRP did not constitute the offer and sale of investment contracts." In addition to providing a degree of regulatory clarity for crypto assets, Verret also argues that the court's decision in the XRP case will greatly improve Coinbase's chances in their court case against the SEC. Outline: 1:05 - XRP Court Verdict 6:00 - Coinbase Re-listing XRP 7:15 - Coinbase vs. SEC 9:55 - Will the SEC Settle? 12:08 - Appellate Court 13:04 - New SEC Chair 14:06 - Unregistered Securities 15:00 - Major Questions Doctrine 16:22 - Crypto Legislation 17:00 - Partisan Politics 20:40 - Spot Bitcoin ETF 22:05 - Closing Thoughts

The Vivek Show
The Crypto Frontier: Regulatory Frameworks and their Future with Mark Lurie

The Vivek Show

Play Episode Listen Later Jul 10, 2023 30:20


In this episode of The Vivek Ramaswamy Show, Vivek engages in a riveting discussion with his college friend, cryptocurrency expert Mark Lurie. This dialogue centers around cryptocurrency's role in modern financial systems and its interaction with traditional regulations. Mark insightfully dives into topics like Bitcoin's initial appeal, the potential disruption caused by crypto, and its need for a distinct regulatory approach. The latter half of the episode explores securities law, the concept of 'Know Your Transaction', and possible changes to accommodate crypto in these laws. Finally, a fascinating talk about crypto's ability to check the administrative state, serve as an opt-out jurisdiction, and its potential long-term impacts ensues. The episode concludes with reflections on a recent political event they both attended.--Donate here: https://t.co/PE1rfuVBmbFor more content follow me here:Twitter - @VivekGRamaswamyInstagram - @vivekgramaswamyFacebook - http://facebook.com/VivekGRamaswamyTruth Social - @VivekRamaswamyRumble - @VivekRamaswamy--Time-codes:00:01:14 - Vivek introduces Mark Lurie, a cryptocurrency authority, who starts sharing his insightful views on the subject.00:05:00 - Mark discusses the potential impact of cryptocurrency on the traditional financial system, highlighting its ability to disrupt the status quo.00:08:25 - Vivek delves into the idea of 'opting in' to traditional regulations for legal protections, bringing new perspectives to the crypto community's autonomy.00:14:19 - Mark introduces the concept of 'Know Your Transaction' (KYT), proposing it as a bridge between the crypto and traditional financial worlds.00:19:00 - Vivek comments on the purposeful vagueness of securities laws, questioning its intention to empower regulatory bodies.00:24:30 - Mark talks about how cryptocurrency can serve as a check and balance on the administrative state, sparking debates on checks and balances.00:26:30 - The discussion concludes with Mark and Vivek envisaging the long-term goals of cryptocurrency and its potential societal impact. 

The Scoop
Securities law professor analyzes the SEC's crypto crackdown: Part 2

The Scoop

Play Episode Listen Later Jun 20, 2023 38:55


Previously on The Scoop, Professor J.W. Verret explained how the ‘major questions doctrine' could put an end to SEC Chair Gensler's regulation by enforcement. In this episode, Verret continues his analysis of the SEC's recent enforcement actions against Coinbase and Binance, and examines the ways in which U.S. regulation of the crypto industry might be able to strike a balance between innovation and consumer protection. This episode is brought to you by our sponsors PayPal and CleanSpark. About PayPal Make your crypto move with PayPal. Get started today at PayPal.com/crypto About CleanSpark CleanSpark (NASDAQ: CLSK) is America's Bitcoin Miner™. Visit cleanspark.com/theblock to learn more about the CleanSpark way.

The Scoop
Securities law professor analyzes the SEC's crypto crackdown: Part 1

The Scoop

Play Episode Listen Later Jun 19, 2023 44:25


Professor J.W. Verret teaches corporate and securities law and financial accounting at George Mason Law School. From May 2018 to March 2022, Professor Verret served as an Advisory Committee Member to the U.S. Securities and Exchange Commission where he represented the interests of investors in making recommendations to SEC Chair Gensler and other Commissioners. In part one of this two part interview, Verret explains how a principle of administrative law in the United States known as the 'major questions doctrine' could challenge the SEC's use of the Howey Test to determine if an asset is a security under federal law. According to Verret, the major questions doctrine is a way for the court to check the power of independent agencies: "If Congress has not given you specific authority to regulate a thing as an agency and you're seeking to regulate it, if it involves a major question of national, economic or political importance, then you need to get authorization from Congress before you do anything." The major questions doctrine will likely not be discussed until the SEC's lawsuits against Coinbase and Binance.US reach the appellate courts, says Verret, "but it's one of the things that looms over these cases, without a doubt." This episode is brought to you by our sponsors PayPal and CleanSpark. About PayPal Make your crypto move with PayPal. Get started today at PayPal.com/crypto About CleanSpark CleanSpark (NASDAQ: CLSK) is America's Bitcoin Miner™. Visit cleanspark.com/theblock to learn more about the CleanSpark way.

The Capital Raiser Show
Stacey Bowers, Esq. Preview: Securities Law for Syndicators

The Capital Raiser Show

Play Episode Listen Later Apr 21, 2023 1:28


You are asking for trouble if you are raising capital without an understanding of securities law for syndications. As soon as you have 1 person who is passive in your deal it becomes a security and is subject to SEC Federal Regulations. Educate and refresh your understanding of this by spending time with lawyers like Stacey Bowers, Esq. On the full show we covered: Helping syndicators understand lawyer's roles. Exemptions and understanding syndication structures. Securities law compliances. Shop talk on Fund of Funds. When can a fund manager be viewed as an investment advisor? Being cognizant of securities acts that affect the syndicator. When might fund managers consider getting a securities license? The different exemptions . Reg. A+ vs Reg. CF. Why would a syndicator would start a fund? Fund Administration can be a mess! How to violate securities laws. What kind of solicitation is allowed for 506(c)? What is conditioning the market? Can The FBI knock on your door if your LP is a criminal? Find Stacey at www.3pillarslaw.com   Get all your syndication and capital raising marketing at pitchdecks.com  If you would like to find out more about Family Office Capital Raising events you can visit lnkd.in/gD6mJ5gp Book a call with Ruben at calendly.com/rlgreth  

How Did They Do It? Real Estate
SA629 | Legal Entities, Capital Raising, and Securities Law in RE Syndications with Gene Trowbridge, Esq.

How Did They Do It? Real Estate

Play Episode Listen Later Feb 13, 2023 29:21


We're living the #notretiringlife with Gene Trowbridge, Esq., as he tells us about his vast real estate investing and legal experiences. Learn the basic knowledge start-up syndicators should know to navigate the industry and legally protect their investors' money. So tune in to this episode!Key Takeaways to Listen forWhy do private placements offer higher yields?The various securities exemptions and which is suitable for youCertified legal advice every syndicator should know aboutFraud: What it is, its possible consequences, and how to prevent itTop 4 questions you should ask before investing with a potential partner Resources Mentioned in This EpisodeSecurities and Exchange CommissionSEC - Form DIt's a Whole New Business! by Gene Trowbridge | PaperbackFree Apartment Syndication Due Diligence Checklist for Passive Investor About Gene Trowbridge, Esq.Gene is a syndication lawyer and a founding partner of Trowbridge Law Group LLP. His law practice concentrates on commercial and investment real estate syndication through debt and equity. He is a former syndicator who raised investor capital through the broker-dealer community for ten years. Gene has represented over 625 clients in this area of practice. His book "It's a Whole New Business!" is a "how-to manual" on real estate syndication.Connect with GeneWebsite: Trowbridge Law GroupYouTube: Trowbridge LawPhone Number: (946) 570-1507To Connect With UsPlease visit our website: www.bonavestcapital.com and please click here, to leave a rating and review!SponsorGrow Your Show, LLCThinking About Creating and Growing Your Own Podcast But Not Sure Where To Start?Visit GowYourShow.com and Schedule a call with Adam A. Adams

The Encrypted Economy
When Howey Met Judges (Law). Lewis Cohen, Greg Strong, Freeman Lewin and Sarah Chen, DLx Law - E100

The Encrypted Economy

Play Episode Listen Later Jan 4, 2023 52:42 Transcription Available


On this week's episode of The Encrypted Economy, our guests are Lewis Cohen, Greg Strong, Freeman Lewin, and Sarah Chen of DLx Law. We continue our conversation on the classification of digital assets and delve deeper into the characteristics of judicially recognized security instruments. Be sure to subscribe to The Encrypted Economy for more insights on the latest developments in digital asset regulation.  Topics Covered:·       3:05    Intent of The Howey Test·       9:42    Assessing the Application of Howey to the Secondary Market·       13:14    Assessing the Approach to Contract Analysis·       15:00    Overview and Implications of the LBRY Decision ·       38:00    The Flaws of the Hinman Test·       44:50    Discussing Informational Asymmetry Resource List:·       Lewis Cohen's LinkedIn·       Lewis Cohen's Twitter·       The Ineluctable Modalities of Securities Law, why Fungible Crypto Assets Are NotSecurities?·       SEC case against LBRY of New Ham pshire·       Howey Test·       Reeves Test·       Token Safe Harbor Proposal 2.0·       Hinman Test·       Lummis-Gillibrand Responsible Financial Innovation Act Follow The Encrypted Economy on your favorite platforms!TwitterLinkedInInstagramFacebook 

Best Real Estate Investing Advice Ever
JF3020: Securities Law & Common Mistakes to Avoid ft. Tilden Moschetti

Best Real Estate Investing Advice Ever

Play Episode Listen Later Dec 11, 2022 21:17


Tilden Moschetti is the managing partner of Moschetti Syndication Law Group, a boutique syndication law firm. In this episode, he shares his expertise on securities law, the different deal structures he's seen, and some of the common mistakes he's seen clients make.    Tilden Moschetti | Real Estate Background Managing partner of Moschetti Syndication Law Group, a boutique syndication law firm.  Based in: Raleigh, NC, and Los Angeles, CA Say hi to him at: moschettilaw.com  Join the newsletter for the expert tips & investing content.   Sign up to be a guest on the show. FREE eBook: The Ultimate Guide to Multifamily Deals & Investing Register for this year's Best Ever Conference in Salt Lake City Stay in touch with us! www.bestevercre.com YouTube Facebook LinkedIn Instagram Click here to know more about our sponsors: PassiveInvesting.com | DLP Capital |Reliant

FINRA Unscripted
Enhancing Your Compliance Practice with the FINRA Institute at Georgetown CRCP Program

FINRA Unscripted

Play Episode Listen Later Nov 15, 2022 16:37


The FINRA Institute at Georgetown Certified Regulatory and Compliance Professional Program is designed to give compliance, legal and regulatory professionals an in-depth understanding of the foundation, theory and practical application of securities laws and regulation. On this episode, we hear from Jim Angel, CRCP Program Academic Director and Associate Professor with the Georgetown McDonough School of Business, and Susanne Goldsmith, a Senior Director with FINRA's Member Relations and Education team, about what makes a CRCP Program a must for FINRA member firms and their high-performing compliance staff.Resources mentioned on this episode: FINRA Institute at GeorgetownEpisode 28: A Look at the FINRA Institute at Georgetown CRCP ProgramGeorgetown360: James J AngelHave questions? Email: Membership@finra.org

Business Scholarship Podcast
Ep.161 – Marc Steinberg on Fiduciary Duty

Business Scholarship Podcast

Play Episode Listen Later Oct 27, 2022 15:20


Marc Steinberg, professor of law at SMU, joins the Business Scholarship Podcast to discuss his article To Call a Donkey a Racehorse — The Fiduciary Duty Misnomer in Corporate and Securities Law. In this article Steinberg considers the rhetoric and reality of corporate fiduciary duty and concludes that directors, officers, and controlling shareholders are not fiduciaries strictly speaking but rather should be understood as having corporate-law-specific duties. This episode is hosted by Andrew Jennings, assistant professor at Brooklyn Law School, with editing by Steven Rozenfeld, a third-year student at Brooklyn Law School.

Law Profs Are People Too

Benjamin Edwards joined the faculty of the William S. Boyd School of Law in 2017. He researches and writes about business and securities law, corporate governance, arbitration, and consumer protection. Prior to teaching, Professor Edwards practiced as a securities litigator in the New York office of Skadden, Arps, Slate, Meagher & Flom LLP. At Skadden, he represented clients in complex civil litigation, including securities class actions arising out of the Madoff Ponzi scheme and litigation arising out of the 2008 financial crisis. His writing has appeared in the Northwestern University Law Review, Washington and Lee Law Review, University of California Davis Law Review, Georgia State Law Review, William & Mary Law Review Online, Virginia Law and Business Review, Michigan Business and Entrepreneurial Law Review, Journal of Business and Securities Law, Virginia Journal of Social Policy and the Law, InvestmentNews, Wall Street Journal, Salon, The Hill, The Washington Post, BloombergView, Oxford Business Law Blog, and Columbia Blue Sky Blog. He also writes regularly for the Business Law Professor blog. Professor Edwards earned his law degree from Columbia Law School and clerked for Judge Samuel H. Mays, Jr. of the U.S. District Court for the Western District of Tennessee.

#plugintodevin - Your Mark on the World with Devin Thorpe
She Uses Securities Law As a Tool for Social Justice

#plugintodevin - Your Mark on the World with Devin Thorpe

Play Episode Listen Later Aug 2, 2022 24:48


Devin: What is your superpower?Elizabeth: My superpower. I think I have the ability to spark. Interests, movements, and to really, really get people going.Enjoy every episode!“To be honest, if [social justice] wasn’t part of my work, I would have no interest in securities,” Elizabeth Carter says, explaining how she sees the law as a tool to help underserved communities, especially women, Black and Afro-Latinx communities.“I’m a business capital attorney who represents investment companies, small businesses, even nonprofits and co-ops, with the legal strategy and compliance of raising capital from investors,” she says.Elizabeth worked in community development and sees crowdfunding as a tool incorporating community-building principles.She says her firm, Elizabeth Carter, Esq., LLC, helps people with essential securities compliance, including articles of incorporation, operating agreement, investment contracts and filings with the Securities and Exchange Commission or state regulators. She is now working to transition the firm to a co-op structure.Her focus on social justice comes from the problems she sees. “The issue is super stark. I mean, the statistics show that black women, despite being the most educated as in proportion to most with degrees, secondary degrees, leading—most likely lead—households, most likely to become entrepreneurs, are still the least likely to be funded.” She’s out to change that.Not only do underserved entrepreneurs face challenges accessing capital, Elizabeth says, they also have difficulty getting legal representation and other professional support.In this context, she says, “We have to talk about race.”She says that systemic racism is intentional. “We have to be intentional to reverse it.”For instance, she says that Black and Latinx communities are underinvested precisely because of who lives there. Too often, funding only becomes available for projects in these communities when white developers step in. She wants to see that funding available to developers, even the up-and-coming, in the community.Wanting to address these problems, Elizabeth sees herself and her team as more than lawyers. “Let’s be social equity lawyers, right? Let’s be community lawyers. Let’s focus beyond just the transactional work.”The progress she sees motivates her to keep going. “When you see a founder raise capital for their business that then brings back resources and other products and goods to real communities, that’s what really gets me going.”She sees crowdfunding as a primary tool—not a stand-alone solution—to these problems. Crowdfunding provides a model for an entrepreneur who represents the community they serve to raise capital from both the local community and the wider community. In this way, everyone in the local community benefits from the success. People outside the community who invest can earn a return on funds they commit to projects and businesses there.Elizabeth will speak at SuperCrowd22 on September 15-16. She will deliver a keynote address during the closing session of the conference. Don’t miss it! Readers register for half price with the code superpowers4good! Paid subscribers register for free. Email to ask me how.Elizabeth uses her ability to spark movements, her superpower, to both grow her business and drive the change she wants to see in the world.How to Develop Sparking Movements As a SuperpowerElizabeth is sparking movements in social justice by helping entrepreneurs, investment companies, nonprofits and co-ops. She’s also building a practice devoted to empowering women in her community.“The other part of the mission of the firm is to increase the diversity within securities law—crowdfunding right—from the legal perspective,” she says. “Black women represent about 2 percent in the legal field in general, 4 percent Black people as a whole.” She describes representation within the field of securities law as “dismal.”“Black women are the fastest growing group of entrepreneurs,” Elizabeth says. “They’re going to need support. Who’s there to support them in a way that they can feel comfortable in the way that they understand that they will have confidence that the practitioner understands their challenges? That is where we come in.”Building on her goal to expand representation of Black women practicing law, she created a clerkship program to train Black women law students.”“When I was in law school, I had no interest in securities. I just thought of Wall Street and big corporations. I said that has nothing to do with our community or anything,” Elizabeth says. “But I was wrong. It was probably because crowdfunding was still relatively new when I was in law school, and I didn’t know anything about it. Looking back, I wish someone would have told me, you know, this is something you can use for good for a superpower.”“I’m very proud of the programming we’re building because I see the changes in these young women. For instance, one of them had actually been licensed since 2003 and said, “I didn’t feel the law was for me until I started working with you because you do it so differently.”Elizabeth has a bit of advice for those who would like to develop her superpower. “Don’t think of money first. Think of if you can do anything in the world and money was not an issue, what would you do?”By following Elizabeth’s example and advice, you can develop your ability to spark movements into a superpower that will help you do more good in the world. Get full access to Superpowers for Good at devinthorpe.substack.com/subscribe

Virtual Legality
CRYPTO CATASTROPHE | Insider Trading, Coinbase and Securities Law (VL693)

Virtual Legality

Play Episode Listen Later Jul 21, 2022 33:06


When one of the biggest cryptocurrency exchanges (Coinbase) has an employee allegedly leaking valuable information to his brother and friend, the law will certainly have something to say. The question is are the DOJ and SEC right, or does the law need a full rework to fully accommodate our allegedly inevitable crypto future. This isn't a bit, we just sometimes find ourselves out in the ether...in Virtual Legality. CHECK OUT THE VIDEO AT: https://youtu.be/EafL0w48IAg #crypto #cryptocurrency #insidertrading *** WANT TO SUPPORT THE CHANNEL? UTREON - https://utreon.com/c/hoeglaw/ PATREON - https://www.patreon.com/VirtualLegality STORE - https://teespring.com/stores/hoeg-law-store BITCAST (Sundays 11AM Eastern) - https://www.youtube.com/channel/UCgHBXONMT06nX_8RZ5r32UA *** CHAPTERS 00:00 Introduction 02:25 Charges of Insider Trading 16:49 Wire Fraud Explained 21:50 What is a Security/SEC Regulation 30:09 Conclusion *** Discussed in this episode: ARTICLES https://www.wsj.com/articles/former-coinbase-employee-charged-in-alleged-insider-trading-scheme-11658420556 https://fortune.com/2022/07/21/coinbase-sec-lack-clear-digital-securities-rules-crypto-huge-missed-opportunity-faryar-shirzad/ DOJ DOCUMENTS https://www.justice.gov/usao-sdny/pr/three-charged-first-ever-cryptocurrency-insider-trading-tipping-scheme https://www.justice.gov/usao-sdny/press-release/file/1521186/download LAW https://www.law.cornell.edu/uscode/text/18/1343 https://www.law.cornell.edu/uscode/text/15/78j https://www.law.cornell.edu/cfr/text/17/240.10b-5 COINBASE DOCUMENTS https://www.coinbase.com/price/tribe https://blog.coinbase.com/a-beginners-guide-to-ethereum-tokens-fbd5611fe30b https://blog.coinbase.com/an-update-on-our-asset-listing-processes-e74421da21cc https://assets.ctfassets.net/c5bd0wqjc7v0/5NRidtW8lvwVEfSHpndWQm/78f95afa4f0ebaaefb303e1a4f172d03/Coinbase_petition_for_SEC_rulemaking.pdf https://blog.coinbase.com/the-crypto-securities-market-is-waiting-to-be-unlocked-but-first-we-need-workable-rules-c0ba63eabab3 SEC DOCUMENTS https://www.sec.gov/news/press-release/2022-127 *** "Virtual Legality" is a continuing series discussing the law, video games, software, and everything digital, hosted by Richard Hoeg, of the Hoeg Law Business Law Firm (Hoeg Law). CHECK OUT THE REST OF VIRTUAL LEGALITY HERE: https://www.youtube.com/playlist?list=PL1zDCgJzZUy9YAU61GoW-00K0TJOGnPCo DISCUSSION IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT TO BE CONSTRUED AS LEGAL ADVICE. INDIVIDUALS INTERESTED IN THE LEGAL TOPICS DISCUSSED IN THIS VIDEO SHOULD CONSULT WITH THEIR OWN COUNSEL. *** Twitter: @hoeglaw Web: hoeglaw.com

The Jake Dunlap Show
Empowering Others Despite Our Differences with Dr. Daryl Jones and Charles Mitchell

The Jake Dunlap Show

Play Episode Listen Later Jul 14, 2022 56:12


This week, we are doing something for the first time on the show. For the first time, I will be joined by 2 purpose driven leaders who are on missions to show others the importance of hustling against the odds and empowering each other despite our differences One of these guest's is the CEO of a purpose driven company that is ranked in the Top 500 African American Owned Companies and is the 3rd Largest Minority owned company in the state of Arizona. Outside of the business, he is very involved in non-profit work.  Our next guest is a former 20 Year Nike Executive, who covered Nike's largest region globally covering $2.3B in annual revenue. He is also a former college professor, as well as the owner of his own consulting firm. Together, they developed “The Conscious Vibe,” which has gained popularity for it's multifaceted conversations around race, politics, business and culture, all with the intention of driving forward compelling stories and building sustainable intellectual capital. The conduits to critical conversations that benefit the greater good of all people, Mr. Charles Mitchell and Dr. Daryl Jones are this week's guests on “The Jake Dunlap Show.” Dr. Daryl Jones:Dr. Jones was born in Battle Creek Michigan, and lived in 5 states before 5th grade. He spent much of his time with his mother outside of being very active in sports (Football, Track, and Baseball). Dr. Jones graduated with his Marketing undergraduate degree at Michigan State University, his MBA from DePaul University, and his Doctorate of Management, Human Behavior, Strategy, and Crisis Management from Weatherhead School of Management at Case Western Reserve.Daryl was recruited to work at Pepsi at the time they were bringing Tiger Woods on. Later, he went on to work as a Management Executive for Nike, where he held roles of Director of Diversity & Inclusion, Head of Global Sales for the 2016 Rio Olympics, and VP/GM of Nike's largest region with over $2.5B in annual revenue. He later was an Adjunct Prof. at the University of Oregon where he taught Business, Sports Marketing and Product Development. Now, he is a Leadership and Organization/Transformation Consultant at Dalmar Consulting. He also serves at the Founder/President of the E-5 Foundation, a non-profit entity focused on transformation of Chicago's underserved youth in critical areas of development. Charles Mitchell: Education was a cornerstone for Charles growing up, and this continued when he completed his undergraduate Finance degree at North Carolina Agricultural and Technical State University before obtaining his MBA at UNC, and JD in Corporate and Securities Law from American University. He also completed OPM at Harvard Business School. Charles is the Chief Executive Officer at All About People, a professional recruiting firm that sources the best and brightest talent for temp/direct to hire senior leadership roles for Fortune 50, Mid-Market, and Growth companies. They are ranked in the Top 500 African American Owned Companies, and 3rd-largest minority owned company in the state of Arizona. Together, they created the Conscious Vibe, where they interview some of today's most diverse, prolific, and interesting people to elevate intellect through conscious dialogue. These multifaceted conversations around race, politics, business and culture drive compelling stories, capture critical concepts, and build sustainable intellectual capital. Please enjoy this week's episode with Dr. Daryl Jones, and Charles Mitchell.  Dr. Daryl Jones Social Links:Website: tcvpodcast.com   LinkedIn: https://www.linkedin.com/in/dr-daryl-l-jones-90657321/Instagram:https://www.instagram.com/djthedoc/?hl=enSoundcloud: https://soundcloud.com/djthedoc Charles Mitchell Social Links:Website: tcvpodcast.com     LinkedIn: https://www.linkedin.com/in/charles-mitchell-8694581/Instagram: https://www.instagram.com/theconsciousvibepodcast/ Jake Dunlap:Personal Site - http://jakedunlap.com/LinkedIn - https://www.linkedin.com/in/jakedunlap/Twitter - https://twitter.com/JakeTDunlapInstagram - http://instagram.com/jake_dunlap _Facebook - https://www.facebook.com/JakeTDunlap/ Skaled:Website - https://skaled.com/LinkedIn - https://www.linkedin.com/company/skaled

MasterMind Minutes
KEY CHALLENGES EMERGING FRANCHISORS FACE AND HOW TO OVERCOME THEM?

MasterMind Minutes

Play Episode Listen Later Jul 13, 2022 29:06


MasterMind Minutes - One Guest, One Question, One Answer in Minutes not Hours... KEY CHALLENGES EMERGING FRANCHISORS FACE AND HOW TO OVERCOME THEM? Don't miss this week's episode, especially if you are a start-up or emerging franchisor. This week's guest is Tom Spadea. Tom Spadea is the co-founder and Partner at Spadea Lignana Franchise Attorneys. The firm has offices in Philadelphia and NY and specializes in the areas of: Franchising, Buying or Selling a Business, Lease Negotiation, Litigation, Commercial law and Securities Law. But Tom didn't start out as an attorney. He has a vast entrepreneurial background. He was the co-owner and President of a communications equipment manufacturer where he co-founded a factory in Latin America, successfully created an international sales network in Asia and invented a product for which he was granted a US Patent. He spent more than 15 years in corporate and entrepreneurial positions before completing law school. Tom has been named a “Legal Eagle” by Franchise Times Magazine, a distinguished award recognizing Tom as a leader among his peers in franchising. He is also the founding member of the Philadelphia Franchise Association and is the current President and Chairman. Contact Tom at: https://www.spadealaw.com/ Contact Gary at: gary@frangrow.com Visit: www.frangrow.com --- Support this podcast: https://anchor.fm/gary5396/support

Syndication Made Easy with Vinney (Smile) Chopra
Resolve Your Legal Issues in Real Estate Sector

Syndication Made Easy with Vinney (Smile) Chopra

Play Episode Listen Later May 10, 2022 41:05


Welcome to the Syndication Made Easy with Vinney Chopra show everybody! Today we are with Amy Wan, the founder, and CEO of Bootstrap Legal. Our topic for this conversation is Amy will be sharing her expertise and how to avoid some pretty serious legal troubles through oversights and non-disclosures. Learn the essentials and also hear some great, specific details in the Q&A following the presentation. As you enter a deal, it is vital to know the standard fees that are customary to charge to get compensation. It is essential to hire a syndication attorney to assist with the legal matters of real estate investments. Amy Wan breaks down the fees every realtor and investor should be aware of prior to making and closing deals. A well-known legal expert, Amy reveals the charges sponsors usually advance personally, the three most common ways to structure your investor distributions, and the real estate waterfall method. On the side, she gives away the things you have to take note of before taking money from investors. Topics discussed - 1. Don't pay someone to raise money for you 2. Transaction attorney 3. Enforcement attorney 4. Securities attorney 5. Local real estate attorney 6. SEC investigation 7. Syndications 8. Raising capital 9. Fund of funds 10. Changes from Covid – 19 Vinney agrees with Amy Wan as we all love our privacy, So there is an importance of Privacy Laws. It was a pleasure to interview attorney @AmyWan of BootStrap Legal to discuss Navigating the Securities Law and Capital Fund Raising. It was fun and I learned a lot! Enjoy. ------------------------------------------------ About Vinney (Smile) Chopra: Vinney is a real estate investor, syndicator, International best-selling author, host of 4 podcasts, multifamily educator, mentor, dedicated husband of over 40 years and father of 2 children-Neil and Monica, residing in Danville, California (near San Francisco) for 40+ years. Vinney came to this country with only $7 in his pocket and a dream. Vinney has now built a portfolio of over 6,500 units amounting to over $650 Million in the multifamily, senior assisted living and hospitality arenas. He is passionate about helping others achieve financial freedom and giving back to our seniors who have given us so much. Learn more about Vinney: https://vinneychopra.com/ Learn more about investing with Vinney: https://vinneychopra.com/investor/ Apply for Mentorship: https://vinneychopra.com/mentorship/ Vinney's Youtube: https://www.youtube.com/c/VinneyChopra/videos Vinney's Linkedin: https://www.linkedin.com/in/vinney-smile-chopra/ Vinney's Instagram: https://www.instagram.com/vinneychopra/ Vinney's Free Book: https://vinneychopra.com/freebook/ ------------------------------------------------

CoinDesk's Money Reimagined
DeFi and Disclosures: Securities Law in Blockchain Technology

CoinDesk's Money Reimagined

Play Episode Listen Later Apr 15, 2022 30:45


This episode is sponsored by Nexo.io, Quantstamp and EY.U.S. securities laws, largely dating back to the 1930s, are proving to be a challenge to integrate into the developing world of blockchain technology.Joining this episode of “Money Reimagined” with Sheila Warren and Michael Casey is Chris Brummer, Professor of Law at Georgetown University Law Center. Brummer introduces what defines a security, then describes where these definitions fall short when it comes to blockchain technology.Brummer's recent white paper, “Disclosure, Dapps and DeFi,” published in the Stanford Journal of Blockchain Law and Policy, details his ideas for a new disclosure framework for crypto markets. He walks through how disclosure integration with decentralized finance could achieve key policy goals like protecting against fraud, maintaining level playing fields and promoting consumer education without burdening innovation.From cash to crypto in no time with Nexo. Invest in hot coins and swap between exclusive pairs for cash back, earn up to 17% interest on your idle crypto assets and borrow against them for instant liquidity. Simple and secure. Head on to nexo.io and get started now.-Quantstamp is the leader of blockchain security, having secured over 100 billion USD worth of digital assets. Visit quantstamp.com to learn why top DeFi projects like Maker, Compound and BarnBridge trust Quantstamp to secure the financial infrastructure of tomorrow. Learn more at quantstamp.com/blog.-EY is proud to sponsor “Money Reimagined.” As businesses prepare for the token economy, EY is committed to building a better working world and connecting global business ecosystems on the public Ethereum blockchain. To learn more about the EY Blockchain portfolio of products and services, visit blockchain.ey.com.-Consensus 2022, the industry's most influential event, is happening June 9-12 in Austin, Texas. If you're looking to immerse yourself in the fast-moving world of crypto, Web 3 and NFTs, this is the festival experience for you. Use code MONEYREIMAGINED15 to get 15% off your GA and Pro pass at coindesk.com/consensus2022.This episode was produced and edited by Michele Musso with announcements by Adam B. Levine and additional production support by Eleanor Pahl. Our theme song is “Shepard.”See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

CoinDesk Reports
MONEY REIMAGINED: DeFi and Disclosures - Securities Law in Blockchain Technology

CoinDesk Reports

Play Episode Listen Later Apr 15, 2022 30:45


This episode is sponsored by Nexo.io, Quantstamp and EY.U.S. securities laws, largely dating back to the 1930s, are proving to be a challenge to integrate into the developing world of blockchain technology.Joining this episode of “Money Reimagined” with Sheila Warren and Michael Casey is Chris Brummer, Professor of Law at Georgetown University Law Center. Brummer introduces what defines a security, then describes where these definitions fall short when it comes to blockchain technology.Brummer's recent white paper, “Disclosure, Dapps and DeFi,” published in the Stanford Journal of Blockchain Law and Policy, details his ideas for a new disclosure framework for crypto markets. He walks through how disclosure integration with decentralized finance could achieve key policy goals like protecting against fraud, maintaining level playing fields and promoting consumer education without burdening innovation.From cash to crypto in no time with Nexo. Invest in hot coins and swap between exclusive pairs for cash back, earn up to 17% interest on your idle crypto assets and borrow against them for instant liquidity. Simple and secure. Head on to nexo.io and get started now.-Quantstamp is the leader of blockchain security, having secured over 100 billion USD worth of digital assets. Visit quantstamp.com to learn why top DeFi projects like Maker, Compound and BarnBridge trust Quantstamp to secure the financial infrastructure of tomorrow. Learn more at quantstamp.com/blog.-EY is proud to sponsor “Money Reimagined.” As businesses prepare for the token economy, EY is committed to building a better working world and connecting global business ecosystems on the public Ethereum blockchain. To learn more about the EY Blockchain portfolio of products and services, visit blockchain.ey.com.-Consensus 2022, the industry's most influential event, is happening June 9-12 in Austin, Texas. If you're looking to immerse yourself in the fast-moving world of crypto, Web 3 and NFTs, this is the festival experience for you. Use code MONEYREIMAGINED15 to get 15% off your GA and Pro pass at coindesk.com/consensus2022.This episode was produced and edited by Michele Musso with announcements by Adam B. Levine and additional production support by Eleanor Pahl. Our theme song is “Shepard.”See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Voice of Corporate Governance
The Public - Private Divide in Securities Law with Professor George S. Georgiev

The Voice of Corporate Governance

Play Episode Listen Later Feb 24, 2022 28:00


In this episode, CII General Counsel Jeff Mahoney interviews Professor George S. Georgiev of the Emory University School of Law. Georgiev is the author of an article recently published in N.Y.U. Journal of Law & Business entitled “The Breakdown of the Public–Private Divide in Securities Law: Causes, Consequences, and Reforms.”

The Encrypted Economy
How Can The SEC Adopt A Better Fit for Crypto? Yuliya Guseva, Professor at Rutgers Law School - Ep 68

The Encrypted Economy

Play Episode Listen Later Feb 15, 2022 49:09 Transcription Available


This week on The Encrypted Economy, we continue our conversation with Professor Yuliya Guseva from Rutgers Law School. Yuliya gives her insights on the SEC and its recent regulatory proposals, security registration issues, the importance of gatekeeper's disclosures, amongst many more topics that give listeners a snapshot of the legal environment in the blockchain economy. Be sure to subscribe to The Encrypted Economy for more coverage of the evolution of crypto regulation and other growing legal concerns that surround these new technologies.  Topics Covered:· Introduction · Regulatory Differences Between Crypto and Current Market Participants  · Concerns with Regulating and Registering Exchanges · Has Reg CF Been Beneficial in Achieving the SEC's Mandate? · What is the Appropriate Disclosure?  · Discussing Slippage   · Human Capital Disclosures Compared With Other Mandated Disclosures  · Thoughts on the Current Proposals for Crypto Regulation Resource List:· Yuliya's LinkedIn · Yuliya Guseva Rutgers Profile · Crypto-Enforcement Around the World · The SEC, Digital Assets, and Game Theory · When the Means Undermine the End: The Leviathan of Securities Law and Enforcement in Digital-Asset Markets · A Conceptual Framework for Digital-Asset Securities: Tokens and Coins as Debt and Equity · Amendments to Regulation ATS · DTCC · Regulation D · Regulation CF · Block One  · Digital Asset and Blockchain Technology Act · Virtual Currency and Blockchain Regulation ActFollow The Encrypted Economy on your favorite platforms!Twitter LinkedIn Instagram Facebook       

The Encrypted Economy
Is the SEC's Approach to Crypto Regulation a Good Fit? Yuliya Guseva, Professor & Director, Fintech and Blockchain Program @ Rutgers Law - E64

The Encrypted Economy

Play Episode Listen Later Jan 18, 2022 56:18


This week on The Encrypted Economy, our guest is Yuliya Guseva, Professor of Law at Rutgers University. In this episode, we discuss SEC actions in digital asset enforcement and whether those actions are in line with the mission of the regulator.  Be sure to subscribe to The Encrypted Economy for more coverage of the adoption of digital assets and the regulatory challenges that emerge along the way.  Topics Covered:·       Introduction·       Introduction to Crypto Regulation and Regulatory Bodies·       Takeaways from Yuliya's Research·       Comparing Investor Access to Projects Under Reg D·       Understanding the Goals of the SEC·       Cooperation Between the SEC and Crypto Projects·       Are Increases in SEC Staff Budgets a Solution?·       How Does the SEC Interpret its Mission? Resource List:· Yuliya's LinkedIn· Yuliya Guseva Rutgers Profile· Crypto-Enforcement Around the World· The SEC, Digital Assets, and Game Theory· When the Means Undermine the End: The Leviathan of Securities Law and Enforcement in Digital-Asset Markets· A Conceptual Framework for Digital-Asset Securities: Tokens and Coins as Debt and Equity· Cryptocurrency Regulation and Enforcement at the US Federal and State Levels· Regulation D· 2021 Brought SEC Focus on Crypto Exchanges and Lending Platforms· Coinbase Lending Program Shut Down     Follow The Encrypted Economy on your favorite platforms! Twitter LinkedIn Instagram Facebook      

FedSoc Events
Showcase Panel I: Social Activism and Corporate Leadership

FedSoc Events

Play Episode Listen Later Dec 13, 2021 94:22


What role should publicly traded corporations play in democratic politics?The 2021 National Lawyers Convention took place November 11-13, 2021 at the Mayflower Hotel in Washington, DC. The topic of the conference was "Public and Private Power: Preserving Freedom or Preventing Harm?" The first showcase panel discussed "Social Activism and Corporate Leadership."Corporate resources are increasingly being used to advance social justice policy goals. This corporate engagement includes advocacy for what’s presented as the “corporate perspective” on divisive social questions. It also includes the use of economic leverage to influence public opinion, affect government policy, and induce private agreements to policy choices that have not been adopted through the political process.To some, this is a positive development: it is all to the good for corporations to advance a just cause. Their public leadership and their market power can help bring the country and the world along. To others, this is an abuse and confusion of power. The goals of the “social justice” and “woke” movements are among the most hotly contested questions of American politics and culture, and they should be resolved through democratic processes without corporations putting a thumb on the scale.We will explore these questions both as matters of principle and matters of law.As a matter of principle, should corporations have unfettered discretion to influence any sphere of American life? Is such discretion good for the democratic process, and is it good for individual liberty? Is the libertarian perspective -- that private actors should be largely able to do what they want, and if they overstep, market competition will fill the gap – adequate to this dynamic? Is there any limiting principle to corporations using economic power to influence politics? As a matter of law, are corporations permitted to use whatever levers are available to them to influence matters of politics? Is corporate leadership permitted to do so in publicly traded companies? Should corporate endorsement or support of a policy position or candidate be considered a reportable lobbying expense or campaign contribution and, if so, how should it be valued? What existing legal frameworks might apply to these questions? How does Citizens United fit into this picture?Featuring:Prof. Margaret Blair, Professor of Law Emerita & Milton R. Underwood Chair in Free Enterprise Emerita, Vanderbilt University Law School; Senior Fellow, Brookings InstitutionProf. Jonathan Macey, Sam Harris Professor of Corporate Law, Corporate Finance, and Securities Law, Yale Law SchoolProf. Julia Mahoney, John S. Battle Professor of Law, University of Virginia School of LawProf. Luigi Zingales, Robert C. McCormack Distinguished Service Professor of Entrepreneurship and Finance and George G. Rinder Faculty Fellow, University of Chicago Booth School of BusinessModerator: Hon. Jeffrey S. Sutton, Chief Judge, U.S. Court of Appeals, Sixth Circuit

This Week in FCPA
Episode 280 – the Happy Holiday edition

This Week in FCPA

Play Episode Listen Later Dec 10, 2021 40:54


Hannukah came early this year and we are now in the full holiday swing of things. Tom and Jay are back to look at some of the week's top compliance and ethics stories this week in the Happy Holidays edition.  Stories 1.     New Biden Administration anti-corruption strategy revealed. Matt Kelly in Radical Compliance.   2.     Mike Volkov asks where are the FCPA enforcement actions? In Corruption Crime and Compliance. 3.     Global ESG efforts and compliance. Mike Munro in explores in the FCPA Blog. 4.     More on the OECD recommendations.  Jessica Tillipman in the FCPA Blog.    5.     DOL proposal may change ESG game. Melissa Khan in Harvard Law School Forum on Corporate Governance. 6.     Nurturing ethical culture. Matt Kelly in Risk and Compliance Matters.  7.     Is Italy a safe haven for bribe payors? Rick Messick asks in GAB.   8.     How to avoid a dystopian office culture. Rob Shavell in CCI.  9.     Top ethics and compliance failures in 2021. Jaclyn Jaeger in Compliance Week (sub req'd). 10.  When is a potential fine a threat? Keith Paul Bishop in California Corporate and Securities Law.     Podcasts and Events 11.  The recent announcement by DAG Monaco on the refocus of the DOJ's use of monitors has caused much consternation. To analyze, Affiliated Monitors sponsored a 5-part podcast series this week Not Your Father's Monitor. In this Episode 1, Bethany Hengsbach considers this change in monitorships from the white-collar enforcement and defense perspective. In Episode 2, Mikhail Reider Gordon looks at global aspects of the new DOJ monitor's focus. In Episode 3, Cristina Revelo discusses how E&C assessments help drive more compliant companies. In Episode 4, Jesse Caplan brings his views on the intersection of the twin topics of antitrust and healthcare compliance. In Episode 5, Vin DiCianni looks at where monitors and monitorships are going in 2022 and beyond. 12.  Are you exasperated? Then check, F*ing Argentina. In this podcast series co-hosts Tom Fox and Gregg Greenberg, author of F*ing Argentina explore the current American psyche of being overworked, over leveraged, overtired and overwhelmed. Find out about modern America's exasperation with well…exasperation. In our final episode, we wrap up what we learned from the series.  13.  In November on The Compliance Life, I visit with Matt Silverman, Director of Trade Compliance at VIAVI. Matt is the first Trade Compliance Director I have hosted on TCL. In Part 1, Matt details his academic career and early professional life.  14.  The Compliance Podcast Network welcomes Professor Karen Woody and her new podcast, Once Upon a Trading Law: The History of Insider Trading. In this most unique pod, Karen interviews some of her student to tell the history of insider trading. Check out Episode 1, which looks at the beginnings of insider trading.  15.  Join Tom, Mike Volkov, Carrie Penman, Dr. Pat Harned and Skip Lowney (an all-star panel if there ever was one) for the ECI webinar on the intersection of compliance and E&C programs. Wednesday, December 15, from 2-3:30 ET. Registration and information here.  Tom Fox is the Voice of Compliance and can be reached at tfox@tfoxlaw.com. Jay Rosen is Mr. Monitor and can be reached at jrosen@affiliatedmonitors.com.  Learn more about your ad choices. Visit megaphone.fm/adchoices

ValueSide
Has Pfizer Violated Securities Law?

ValueSide

Play Episode Listen Later Dec 5, 2021 8:35


A fascinating story unfolded this week, involving Pfizer, one of the principal makers of the Covid-19 Vaccine, the Food and Drug Administration, and a citizens watch dog group, named “Public Health and Medical Professionals For Transparency Documents.”

Blockchain Value
Season 1, Episode 4 – What are Digital Assets and Why Securities Law May Apply (with Lewis Cohen)

Blockchain Value

Play Episode Listen Later Sep 23, 2021 32:10


Lewis Cohen is the co-founder of DLx Law, a law firm founded in 2018 to serve the needs of a new, technology-driven economy. Lewis and the DLx Law team provide in-depth legal counsel to startups, growth companies, major enterprises, and governmental entities on a broad range of matters involving the use of blockchain, cryptocurrencies and other disruptive technologies. Passionate about the ability of innovative technologies to change the way businesses and individuals work together, Lewis has become a major advocate for potential of emerging technologies to benefit and transform industries around the globe. Lewis brings more than 25 years of experience advising major clients in capital markets and finance transactions. Lewis is a frequent public speaker on the topic of blockchain and distributed ledger technology. Lewis served on the Board and Executive Committee of the Structured Finance Industry Group (SFIG). Lewis is also recognized by Chambers Global as one of only three lawyers in “Band 1” for Legal: Blockchain & Cryptocurrencies – USA. Follow Lewis on Twitter: @NYCryptolawyer. In this first installment, we will begin by looking at the nature of digital assets from the perspective of a securities lawyer and explore why would securities law might apply to them. Before attempting to apply a system of regulation to a type of asset, it is important to understand the character of that type of asset and how it is similar to (or different from) other assets that are treated as “securities”. We will also briefly look at the history of securities law in the US in general to understand both its breadth of coverage and also its limitations.

inSecurities
Time to Rethink Securities Law?

inSecurities

Play Episode Listen Later Sep 9, 2021 56:26


It's time to rethink securities law, argues SMU Dedman School of Law Professor Marc Steinberg in his latest book Rethinking Securities Law. There are “many deficiencies and inconsistencies in the current regimen,” he says. Chris and Kurt sit down with Professor Steinberg to discuss his recommendations. Learn more about the book, or purchase online, at via Oxford University Press: https://global.oup.com/academic/product/rethinking-securities-law-9780197583142?cc=us&lang=en&

inSecurities
It's All About Connecting: The Value of PLI's IA/BD Programs

inSecurities

Play Episode Listen Later Jun 3, 2021 42:43


Kurt chats with Cliff Kirsch of Eversheds Sutherland about the benefits of PLI's investment adviser and broker-dealer resources, and about Cliff's many contributions to PLI programs and publications, including the upcoming live webcast Securities Law and Practice 2021: How the SEC Works on June 28.  ----more---- Link to PLI's Broker Dealer Blog Link to product details page for Securities Law and Practice 2021: How the SEC Works Link to Cliff Kirsch's PLI Biography and Associated Items  

The Bold Sidebar
NJ Transit $1.8 Million

The Bold Sidebar

Play Episode Listen Later Feb 24, 2021 11:40


Two cases this week.Maison v. NJ TransitAnswers the question of whether NJ Transit is a “common carrier.” Answer = yes. The court imposes common carrier liability duties on NJ Transit. The duty is more than getting people from point A to point B. The court also crafted a specific jury charge for the allocation of damages across the agency, the agency's employee and an unrelated tortfeasor. At stake a $1.8 million award to the plaintiff.Goldfarb v. SolimineEquitable remedies and statutory Securities Law collide when a financial analyst's promise of employment never materializes. The required written term sheet never materialized either. The court found the plaintiff's claims are limited to “reliance damages” not “benefit of the bargain”  damages. He can recover what he would have earned had he not relied upon the oral employment promise.Please Click here to give The BOLD SIDEBAR a nice 5-star Rating.Check out our sound engineer Nick Bates at: Bandcamp - https://nick-bates.bandcamp.com and Twitter - https://twitter.com/nickbatesmusic

Wealth Evolution Club
Investments & Securities Law – Gene Trowbridge, ESQ. CCIM

Wealth Evolution Club

Play Episode Listen Later Jan 9, 2021 28:22


In this episode I am joined by Gene Trowbridge Esq., CCIM. He is the founding partner of Trowbridge Law Group LLP. Gene's law practice concentrates on the syndication of commercial and investment real estate, through both debt and equity. Between Gene's individual syndication practice and the firm's legal practice, the partners in the firm have written offerings for more $5 Billion of money raised. Gene starts this episode briefly talking about his achievements and his contribution to the commercial and investment real estate.  He did a wonderful job about syndications, investments, and Securities Laws. What is “HOWEY test”. He further speaks on whom does Securities Law protects, 506 (b) vs 506 (c). He briefly discusses when and how securities laws came into effect? Who talks about accredited investors, sophisticated investors, and PPM? Why 506(c) was created? Gene further tells that majority of the money is raised by 506(b). I asked him about the pre-existing relationship. He explained in layman language about pre-existing and sophisticated investors. I asked him who are international investors and how they are determined? GENE strongly discourage not to accept cash. There are too many risks associated with accepting cash. Return-on-capital and Return-of-Capital is very confusing sometimes for even very seasoned investors. He did a wonderful job and made it extremely simple to understand. He talks about one of the frauds that is getting noticed very often. As we move on Gene explains who are accredited investors and who are sophisticated investors? He talks about the family office and key employees are also considered as accredited. You can reach out to Gene at  www.trowbridgelawgroup.com Please join us www.wealthevolutionclub.com

The Early Link Podcast
Ralph Smith from the Campaign for Grade-Level Reading

The Early Link Podcast

Play Episode Listen Later Sep 25, 2017 26:16


Ralph Smith is managing director of the Campaign for Grade-Level Reading (GLR), an initiative to mobilize communities to third-grade reading proficiency for children from low-income families. The GLR network now includes more than 300 Campaign communities in 42 states. Smith has served on the boards of the Council of Foundations, the Foundation Center, Venture Philanthropy Partners, and the Wells Fargo Regional Foundation. Recently, he retired as senior vice president of the Annie E. Casey Foundation and also served as a cabinet officer for the School District of Philadelphia. Previously, Smith taught Corporations and Securities Law and Education Law and Policy as a member of the Law Faculty at the University of Pennsylvania, during which time he also served as a senior advisor to Philadelphia's mayor. Smith led efforts to design and implement the school district's landmark voluntary desegregation plan, negotiate some of the nation's first education reform-driven teacher contracts, and develop Children Achieving, a district-wide blueprint supported by the Annenberg Challenge. In this interview, we discuss how GLR is designed to help communities create solutions for kids, the concept of accountable advocacy, the role of philanthropy and state leaders, and much more. Listen, download, and share!

Play to Potential Podcast
184: 17.00 Zia Mody - The full conversation

Play to Potential Podcast

Play Episode Listen Later Aug 31, 2017 39:08


GUEST  Zia Mody is an Indian legal consultant and considered an authority on Corporate Merger and Acquisition Law, Securities Law, Private Equity and Project Finance. She is an alumnus of Harvard Law School and worked for 5 years in the US with Baker and Mackenzie in New York City before returning to India. She started her own practice in Mumbai in 1984 and over the years, she has built AZB & Partners – one of India's largest and most reputed law firms where she is the Managing Partner. She has frequently appeared on Most Powerful Businesswomen and Most Powerful CEO lists over the last several years. In our conversation, we spoke about her take on how people should think about law as a career, her take on women growing to become leaders and the leaky pipeline there, trade-offs between work and life, what it takes to be a trusted advisor with a client, what it takes to build an institution of repute and more. Without further ado, over to my conversation with Zia. This conversation was published in September 2017. We value your feedback on the podcast. If you have 3 minutes, please visit http://bit.ly/p2pfdback. HOST Deepak is a Leadership Advisor and an Executive Coach. He works with leaders to improve their effectiveness and in helping them make better decisions specifically around organizational and career transitions. He currently runs Transition Insight (www.transitioninsight.com) and works with leaders to handle phases of transition thoughtfully. He has worked as an Operations Consultant with KPMG in UK, Strategy Consultant with McKinsey in the US and as a Leadership Consultant with EgonZehnder (a Swiss Leadership Advisory firm) where he helped companies recruit CEOs, CXOs and Board Members and worked on Leadership Development. Deepak is a certified CEO Coach and is an alumnus of IIT Madras, IIM Ahmedabad and London Business School. His detailed profile can be found at https://in.linkedin.com/in/djayaraman  OTHER GUESTS 1.Vijay Amritraj 2.Amish Tripathi 3.Raghu Raman 4.Papa CJ 5.Kartik Hosanagar 6.Ravi Venkatesan 7.Abhijit Bhaduri 8.Viren Rasquinha 9.Prakash Iyer 10.Avnish Bajaj 11.Nandan Nilekani 12.Atul Kasbekar 13.Karthik Reddy 14.Pramath Sinha 15.Vedika Bhandarkar 16.Vinita Bali 17.Zia Mody 18.Rama Bijapurkar 19.Dheeraj Pandey 20.Anu Madgavkar 21.Vishy Anand 22. Meher Pudumjee 23.KV Shridhar (Pops) 24.Suresh Naraynan 25.Devdutt Pattanaik 26.Jay Panda 27.Amit Chandra 28.Chandramouli Venkatesan 29.Roopa Kudva 30.Vinay Sitapati 31.Neera Nundy. DISCLAIMER  All content and opinions expressed in the podcast are that of the guests and are not necessarily the opinions of Deepak Jayaraman and Transition Insight Private Limited. Views expressed in comments to blog are the personal opinions of the author of the comment. They do not necessarily reflect the views of The Company or the author of the blog. Participants are responsible for the content of their comments and all comments that are posted are in the public domain. The Company reserves the right to monitor, edit, and/or publish any submitted comments. Not all comments may be published. Any third-party comments published are third party information and The Company takes no responsibility and disclaims all liability. The Company reserves the right, but is not obligated to monitor and delete any comments or postings at any time without notice.

Oil and Gas This Week Podcast
#054 OGTW: Did this CFO Defy Oil and Gas Securities Law?

Oil and Gas This Week Podcast

Play Episode Listen Later Mar 11, 2016


ExxonMobil says its looking for assets, not takeovers. Dupont's numbers are just crazy talk. And did this CFO Violate Oil and Gas Securities Law? CLICK HERE TO LISTEN NOW We Have a Winner! Tawfik Azer shoots … He scores! Oh baby,

Oil and Gas This Week Podcast
#054 OGTW: Did this CFO Defy Oil and Gas Securities Law?

Oil and Gas This Week Podcast

Play Episode Listen Later Mar 11, 2016


ExxonMobil says its looking for assets, not takeovers. Dupont's numbers are just crazy talk. And did this CFO Violate Oil and Gas Securities Law? CLICK HERE TO LISTEN NOW We Have a Winner! Tawfik Azer shoots … He scores! Oh baby,