GATE Technologies is committed to engaging with regulators and other market participants to support the growth of alternative markets. Recent correspondence with regulators and government officials is listed below.
The following letter was sent on January 11th, 2011 to the Securities and Exchange Commission advocating a revision in the number of shareholders of record a private company can have before registration. In the letter, GATE CEO Vince Molinari lays out the case for increasing the 500 investor cap – which has not changed since 1964. As a thought leader committed to the expansion of electronic trading of illiquid assets, Mr. Molinari hopes to proactively engage regulators on this very important issue on entrepreneurial capital formation and begin a discussion that leads to appropriate reform.
500 Shareholder Open Letter to SEC
SEC Response to 500 Shareholder Letter
Gate Technologies, LLC, recently contacted every member of the U.S. House of Representatives Committee on Financial Services in order to support U.S. Rep. David Schweikert’s (AZ) legislation, the Small Company Capital Formation Act of 2011. Cosponsored by U.S. Rep. Anna Eshoo (CA), the legislation, H.R. 1070, would expand the ability of private companies to raise capital by increasing the cap for companies exempt from SEC registration under Regulation A from the current $5 million to $50 million. Posted here are Gate's letters to Chairman Spencer Bachus (AL) and Ranking Member Barney Frank (MA). The legislation passed the Committee by voice vote on Wednesday, June 22.
1070 Letter to Republican Chairman of the Financial Services Committee Spencer Bachus
1070 Letter to Democratic Chairman of the House Financial Services Committee Barney Frank
GATE invites you to join us in advocating for rule changes to improve access to capital for small and private companies. Please download the 1070 Letter, complete the editable fields and send to your State Representative.