The frenzy to own a piece of one of the white-hot Internet companies rumbling toward what is expected to be an eventual blockbuster IPO has caught the attention of the Securities and Exchange Commission. The regulatory agency has sent information requests to people involved in the buying and selling of shares in Facebook, Twitter, Zynga and LinkedIn, according to the New York Times, which cited sources familiar with the inquiry.
SecondMarket, the most well-known private-shares marketplace, told the Wall Street Journal it had not been contacted by the SEC, raising the possibility that the agency’s focus could be on the slew of company-specific funds that have cropped up in recent months focused on buying up private-company shares on behalf of limited partners - often individuals who may not be professional investors.
To read the full, original article click on this link: SEC Takes Closer Look At Buying And Selling Of Private Company Shares - Venture Capital Dispatch - WSJ
Author: Zoran Basich
