Alright, we put our hands up, we’ve been reading Zero Hedge.
His Anonymous Handsome Midriffness is busy being his usual self, and on this topic he’s made us go hmmm about a certain Wall Street Journal story concerning SecondMarket Holdings, Inc. The platform is launching a service that will allow lenders to sell exposure in student loans to (accredited) investors. The WSJ describes it thus (emphasis ours): Read more
The WSJ on Friday reports that the SEC is looking to relax the regulations on share issuances by private companies. These attracted widespread attention following Goldman’s botched effort to set up a special purpose vehicle to purchase Facebook stock.
As FT Alphaville explained in a post in January, one of the main rules under the spotlight is in section 12(g) of the Securities Exchanges Act, which requires a firm to register securities with the SEC if it: Read more
There’s something ickily uncomforting about the Facebook/Goldman mash-up — and not just the scars of a well flogged horse. A well flogged horse going public with financial information by 2012, no less.
As you know, the SEC is looking into “pre-IPO Pooled Investment Funds” such as the one Goldman set up, and which may operate via private share markets. Read more
Secondary transactions — sales of private stock by company shareholders via private exchanges or placements — have received increased attention in the last few months.
And for good reason. NYPPEX numbers obtained by FT Alphaville claim that the secondary market for privately held companies is worth $9.6bn in 2010, up from $900m in 2005. Read more