Category Archives: Industry news

80% of Top SEC Transaction Law Firms Worked With Vintage in 2014

“Intelligent Value” hastens processes and lowers costs for law firms and issuers

NEW YORK, January 27, 2015 / PR Newswire / — In 2014, 80% of the Top 30 law firms that specialize in the SEC transactions required by the Securities Act Of 1933, worked with Vintage, the capital markets, corporate services and institutional & mutual fund services division of PR Newswire. These filings, including IPO and secondary offering registrations, are very complex legal documents that require an immaculate attention to detail and extensive expertise in financial publishing.

“2014 was a watershed year for Vintage, particularly for our capital markets team. I could not be more pleased about this accomplishment,” said Liam Power, President of Vintage. “We began the year with a systemic evaluation of everything we do – our technologies, our processes, our people and even our brand. Subsequently, the decisions we’ve made brought a focus onto what matters most to our clientele. 2014’s results validates our success becoming the industry’s intelligent value,” finished Power.

Top_30_lawfirms_Vintage

Click image to enlarge

The capstone of Vintage capital markets group is its IPO and transaction drafting sessions. The company has defined three models for these sessions, based on the flexibility and budget the client requires and not a one-size-fits-all approach.

  • Vintage office location: a traditional session model
  • Client-selected location: minimum travel and billable hours while allowing senior executives to keep abreast of their daily workload
  • 100% virtual: the most cost and time efficient alternative

A brief video explaining transaction drafting sessions scan be viewed here: http://promotions.prnewswire.com/Vintage-transaction-solutions.html

Securities law firms, like Sichenzia Ross Friedman Ference LLP, work with Vintage and the process that best suits their own issuer clients’ needs.

“We are very pleased to be recognized as the 12th most active law firm in the United States for transactions involving public offerings in 2014,” said Gregory Sichenzia, Partner, Sichenzia Ross Friedman Ference LLP. It is an outstanding accomplishment and we thank our friends at Vintage for their help and support during the year.”

Absolute cost transparency is a hallmark of the Vintage approach, and a key part of their ability to deliver value to our client, presenting pricing simply, clearly and to the level of detail that matters to clients. In fact, Vintage pioneered the concept of open, up-front, and transparent pricing.

“I believe that our presence on this Top 30 securities lawyer list is a testament to the hard work and smart decisions our partners and associates make on behalf of our clients,” said Gregg E. Jaclin, Esq., Partner from Szaferman Lakind Blumstein & Blader, PC. “Certainly, one key decision we assist our clients with is resource selection and we have found that Vintage compliments both our processes and our clients’ requirements.”

In addition to capital markets practice group that works with law firms, investment banks and M&A deal-drivers, Vintage also supports two other practice groups:

  • Corporate Services, which supports public companies with compliance and investor relations solutions
  • Institutional & Fund Services for investment management and mutual fund organizations

Vintage is headquartered in New Your City with regional sales and service offices through the US and internationally within PR Newswire and Canada Newswire (CNW) offices.

Top 30 research is from 2014 SEC filings: S-1, S-3, S-4, S-11, N-2, F-1, 10-12B and 10-12G. All files are available on SEC.gov website.

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About Vintage

Vintage, a PR Newswire division, is a top-three provider of full-service regulatory compliance and shareholder communications services, delivered across our three practice areas: Capital Markets, Corporate Services and Institutional & Fund Services.

Founded in 2002 and acquired by PR Newswire in 2007, Vintage has evolved to become the industry’s intelligent value choice. We deliver a flexible balance of people, facilities and technology to ensure that regulatory compliance and shareholder communications processes are efficient, transparent and painless. Services include IPO registrations, transactions, virtual data rooms, EDGAR & XBRL filing, typesetting, financial printing and investor relations websites. www.thevintagegroup.com 

About PR Newswire

PR Newswire (www.prnewswire.com) is the premier global provider of multimedia platforms that enable marketers, corporate communicators, sustainability officers, public affairs and investor relations officers to leverage content to engage with all their key audiences. Having pioneered the commercial news distribution industry 60 years ago, PR Newswire today provides end-to-end solutions to produce, optimize and target content — from rich media to online video to multimedia — and then distribute content and measure results across traditional, digital, mobile and social channels. Combining the world’s largest multi-channel, multi-cultural content distribution and optimization network with comprehensive workflow tools and platforms, PR Newswire enables the world’s enterprises to engage opportunity everywhere it

Media Contact:

Bradley H. Smith
Director of Marketing, IR and Compliance Services
PR Newswire & Vintage
+1 201.942.7157
bradley.smith@prnewswire.com

SEC closed on Martin Luther King, Jr. Day: January 19, 2015

In honor of Martin Luther King, Jr., the SEC is closed on Monday, January 19, 2015.  No files can be received. 

MLK

 

Files submitted after 5:30 pm ET, Friday, January 16, 2015 will receive a filing date of Tuesday, January 20, 2015 and will be posted to the public on January 20.

As with other holiday closings, the following file types will receive a Friday, January 16, 2015 filing date if filed by 10:00 pm ET on Friday:

  • Form 13H filings
  • Section 16 filings (3, 3/A, 4, 4/A, 5, 5/A)

For any filing with a due date of Monday, January 19, 2015, the SEC will move the due date of Tuesday, January 20, 2015.

HAPPY NEW YEAR!

PS: Download a 2015 SEC calendar here.

Once again, Vintage ranked as top-three EDGAR agent

The beauty of being in the SEC compliance business is that our efforts are 100% transparent. Many 3rd party sites and feeds measure filings… the ultimate “client testimonial.” Once again, Vintage has made the top three in 2014 , just behind the legacy (yawn) firms for 2014.

Thanks once again to the data-crunchers over at SEC Info for their 2014 research.

I count the two RRDs as one.

I count the two RRDs as one.

2014 was an important year.

  • We celebrated our “rebirth” with a new brand and a new energy.
  • We further expanded our IPO transactions business and hosted many drafting sessions in our space within PR Newswire’s office. (watch video)
  • We launched a new Capital Markets group to help small and micro-cap companies with their investor relations.
  • Our fleXBRL program has helped hundreds of companies make XBRL filing less burdensome (workflow and cost).

Bottom-line. Why did we do so well in 2014? We’ve become the industry’s intelligent value. Learn more – contact us. 

Kudos to our product and sales people for making marketing and blog writing so easy!

Have a great day.

 

Nous sommes une famille – je ai eu toutes mes sœurs avec moi !

I cannot vouch for the French Canadian accuracy of the headline above, (click here) however the family pride is clear: congratulations to our sister company, CNW, a PR Newswire company, for the continued endorsement from the Toronto Stock Exchange (TSX) for newswire and financial results webcasting services. TSX has endorsed CNW’s newswire services since 2003.

From the TSX:

“We feel the CNW brand speaks to quality, integrity and expertise,” said Ungad Chadda, Senior Vice President, Toronto Stock Exchange. “We use CNW for our own investor relations communications and find their one-stop-shop approach helpful in reducing complexity. CNW‘s services also fit well with what we provide to our issuers through our TSX Company Services offering.”

CNW and TSX have worked closely together for many years to provide listed companies with the support they need to succeed as a publicly listed organisation. It’s important to emphasis that CNW support does not stop at the border…

PrimaryLogoSubline_CMYK_FullColor_CS5_french

…all CNW clients have seamless access to the full quiver of the global services of PR Newswire and Vintage as well. This is especially important for Canadian companies who are listed on the USA stock exchanges.

CNW_cmyk1Again, congrats to the hard working service and solutions teams at CNW who earned this honor ~  and thank you to the Toronto Stock Exchange for your due diligence and confidence on behalf of your issuers. Success has no language barrier. 

Passez une bonne journée.

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SEC closed for Christmas Holiday: December 25th AND December 26th

In honor of Christmas, the SEC is closed on Thursday, December 25, 2014 and Friday, December 26, 2014. No files can be received. 

December 26th is a special Executive Order gift this year due to the date falling on a Friday! 

Files submitted after 5:30 pm ET, Wednesday, December 24, 2014 will receive a filing date of Monday, December 29, 2014 and will be posted to the public on December 29.

SECCOOKIES

 

As with other holiday closings, the following file types will receive a Wednesday, December 24, 2014 filing date if filed by 10:00 pm ET on Wednesday:

  • Form 13H filings
  • Section 16 filings (3, 3/A, 4, 4/A, 5, 5/A)

For any filing with a due date of Thursday, December 25, 2014 or Friday, December 26, 2014, the SEC will move the due date of Monday, December 29, 2014.

Have a great day.

Vintage Corporate Transactions Team Offer Guidance to Small and Mid-cap Companies at ROTH New Industrials Corporate Access Day Conference

M&A, regularly compliance and investor relations drive conversations at New York City event, December 16

KINGKONG

NEW YORK, December 10, 2014 / PR Newswire / — Vintage, the capital markets, corporate services and institutional & fund services division of PR Newswire, today announced that the company will be presenting their Capital Markets and Corporate Services solutions the ROTH New Industrials Corporate Access Day Conference the Park Hyatt New York in New York, NY, on December 16.

To keep up-to-date on their continued growth, Vintage invites interested persons to follow the company: https://www.linkedin.com/company/vintage-filings-llc

Recognized as the industry’s intelligent value, Vintage’s M&A, transactions and IR specialists will be guiding attendees through the company’s comprehensive solution suite that includes:

  • Virtual Data Rooms
  • S-1 and secondary offering transactions
  • Shareholder communications and investor visibility
  • Cost-effective EDGAR and XBRL programs

Please visit Vintage today for more information: www.thevintagegroup.com

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About Vintage

Vintage, a PR Newswire division, is a top-three provider of full-service regulatory compliance and shareholder communications services, delivered across our three practice areas: Capital Markets, Corporate Services and Institutional & Fund Services.

Founded in 2002 and acquired by PR Newswire in 2007, Vintage has evolved to become the industry’s intelligent value choice. We deliver a flexible balance of people, facilities and technology to ensure that regulatory compliance and shareholder communications processes are efficient, transparent and painless. Services include IPO registrations, transactions, virtual data rooms, EDGAR & XBRL filing, typesetting, financial printing and investor relations websites. www.thevintagegroup.com

About PR Newswire

PR Newswire (www.prnewswire.com) is the premier global provider of multimedia platforms that enable marketers, corporate communicators, sustainability officers, public affairs and investor relations officers to leverage content to engage with all their key audiences. Having pioneered the commercial news distribution industry 60 years ago, PR Newswire today provides end-to-end solutions to produce, optimize and target content — from rich media to online video to multimedia — and then distribute content and measure results across traditional, digital, mobile and social channels. Combining the world’s largest multi-channel, multi-cultural content distribution and optimization network with comprehensive workflow tools and platforms, PR Newswire enables the world’s enterprises to engage opportunity everywhere it exists. PR Newswire serves tens of thousands of clients from offices in the Americas, Europe, Middle East, Africa and the Asia-Pacific region, and is a UBM plc company. www.prnewswire.com

Media Contact:

Bradley H. Smith
Director of Marketing, IR and Compliance Services
PR Newswire & Vintage
+1 201.942.7157
bradley.smith@prnewswire.com

 

 

 

The EDGAR time-lag is not high frequency traders’ conspiracy. But it is why XBRL is needed.

Recent articles by the WSJ’s industry watchdog Scott Patterson highlighted academic research that showed that some (assumedly professional) investors are receiving SEC EDGAR files moments-to-minutes before retail investors via a dedicated paid subscription feed. This paid feed is in comparison to the files being openly available on the SEC.gov EDGAR site… free for anyone.

From the WSJ:

The studies were the latest indication that some superfast, sophisticated trading firms enjoy an advantage over other investors, echoing previous cases in which high-frequency traders received corporate news releases or key data on the U.S. economy milliseconds before competitors.

It wasn’t clear whether the change in timing was the result of action by the SEC, a contractor running a direct feed or simply stemmed from technology glitches in its distribution system.

In this case, unlike the high frequency traders’ conscious effort to game the system, this is more likely to be a result of “left-overs” from pre-2002.

SEC_balloon

 

Allow me to explain: up until May 2002, the SEC did not publish issuers’ SEC files when they received them – their website technology took up to 48 hours!

I know this first-hand via the shareholder communications business - as to populate the SEC files on investor relations websites, we bought a separate “real-time” feed from ye olde’ Edgar Online. Besides, being pert-near instantly available (to advance corporate transparency), the commercial feed was also property parsed for import. In fact, all IR website vendors still buy a feed from a 3rd party – not the SEC. I doubt the research looked at the EDGAR file publishing timing on an issuers own IR website.

Obviously, this data formatting is a necessity for Street portals like Bloomberg. It’s a tried and true data feed that the portals have used for years – long before the SEC itself went real-time. No conspiracy. Just the reality of the data business.

From the WSJ:

Still, the episode underscores how outmoded the system has become, say securities experts.

“It’s an ancient computer system that is processing more and more data than it was designed for,” said Scott Kimpel, a partner at law firm Hunton & Williams LLP.

The SEC is in the early stages of a multiyear modernization of the system. Ms. White said in congressional testimony earlier this year that the effort would simplify the financial-reporting process and ensure investors have access to better data.

This is where the evolution to XBRL will level the playing field compared to EDGAR. One single source – directly verified by both issuer and SEC. Will XBRL curtail the nefarious appetite of high frequency traders? – of course not, but at least the SEC will not be accused as an enabler.

This discussion above makes my XBRL rant even more “interesting.”

Have a great day.