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SEC could lease offerings of securities via the Web; Commission has the power to block states' registration requirements for online offers made exclusively to 'qualified purchasers.'(Internet/CD-Rom)

Article Abstract:

The Capital Markets Efficiency Act of 1996 facilitates the use of the Internet for some offerings of securities by preempting what SEC rules deem to be 'qualified purchasers' from state registration of security offers and sales. The SEC could expand this exemption to make it easier for small issuers to use the Internet for marketing. California already has such an exemption and the SEC should make a national one, thus easing the regulatory burden born by small businesses. Securities exempt from state registration under such an expanded rule would still be subject to state fraud provisions.

Interpretation and construction, Powers and duties, Going public (Securities), Initial public offerings, Securities law, United States. Securities and Exchange Commission

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Web lenders tread slowly into traditional waters; regs and laws designed to protect public now stand in the way of Internet bank progress

Article Abstract:

Internet banking is discussed, and the absence of well-defined laws, especially with Internet lending, has slowed growth. Marketing loan products on the Internet can raise Community Reinvestment Act and fair lending concerns, as well as jurisdictional, licensing, and general contingent liability considerations. The Uniform Electronic Transactions Act, governing digital signatures, also comes into play.

Financial services industry, Financial services

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Securities; SEC Internet report

Article Abstract:

Issues regarding 1999's SEC online brokerage report are discussed. The topics include suitability requirements, best execution, market data-mining utility, and online investor education initiatives.

Electronic commerce, E-commerce, Securities

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