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Thought Leadership
IssuWorks leadership provides advisory and consultation services regarding markets structure, function and activity to institutional investors, corporate issuers, regulators and policy makers.
Featured statements, studies and presentations:
• (2014 December) Study "SEC Comment Letter"
• (2014 October) Presentation "NASAA is Doing Incredible Harm to The Economy and They Need to Stand Down"
• (2014 October) Presentation "Dara Albright Events - David Weild Speaks on the New Regulation A+"
• (2014 October) Presentation "ACG Presentation"
• (2014 September) Interview "OneMedRadio Interview with David Weild, Founder and CEO of IssuWorks"
• (2014 August) Presentation "Innovative Regulations: Not an Oxymoron"
• (2014 June) Presentation "Why We Need Enlightened Regulation, with David Weild"
• (2014 May) Interview "How Research on the JOBS Act Led to IssuWorks"
• (2014 January) Response to recommendations by the SEC Market Structure Subcommittee
• (2013 November) Article "Tick Tock: Time for Action on Tick Sizes"
• (2013 November) TEDx presentation "Capital: The Fuel Behind World Transformation"
• (2013 August) Panel Discussion "CrowdFinancing Direct Public Offerings"
• (2013 August) Interview "Live Interview With Crowdfunding Leader David Weild IV"
• (2013 July) OECD Study "Making Stock Markets Work to Support Economic Growth"
• (2013 July) OECD Study with Forward "Making Stock Markets Work to Support Economic Growth"
• (2013 June) Statement in Congress "Hearing on reducing barriers to capital formation"
• (2012 August) Presentation "Nowstreet's Atlanta Crowdfunding Conference - David Weild Presentation"
• (2012 March) Interview "Weild Urges Easing of Rules on Trading of Private Shares"
• (2012 March) Interview "Weild, Kaufman Discuss Drop in Publicly-Held Companies"
• (2012 February) Interview "Getting Funded: What Every Entrepreneur Needs to Know About IPOs"
• (2012 January) Interview "Congressman Patrick McHenry speaks with David Drake & David Weild IV"
• (2011 January) Interview "Small-Cap IPOs"
• (2010 April) Presentation "IPO R.I.P.?"
• (2009 October) Interview "Weild Sees `Enormous Structural Problem' in IPO Market"
Featured citations in others' works:
• (2014 October) "A Way for local businesses to grow"
• (2014 October) Joel Anderson "How Opening Up Capital Helps Today's Small Companies Become Tomorrow's Mega-Caps"
• (2014 October) Dara Albright Events "Industry Leaders Rally to Revive the Thriving Small Cap IPO Market of Yesteryear"
• (2014 September) Ronald Trahan "IssuWorks Launches New Service for Public Companies"
• (2014 July) Carvajal, Rostek, and Sublet, "JOBS and SOX: Evolving with New Paths to Capital Formation"
• (2014 June) Samantha Hurst, "IssuWork Launches Series A Equity Round on Crowdfunder"
• (2014 June) PBIO- Pressure BioSciences Engages IssuWorks in Strategic Advisory Role
• (2014 June) Pressure BioSciences Engages IssuWorks in Strategic Advisory Role
• (2014 March) European Commission report on Long-Term Financing of the European Economy
• (2014 February) New York Venture Hub
• (2014 February) CohnReznick Continues to Expand Services to Help Mid-Market with Capital Needs
• (2013 November) Equity Capital Formation Task Force
• (2013 September) Emman, "IssuWorks Holdings LLC Launches First Private Placement Under New Reg D Legislation"
• (2013 September) Bill Haynes, "Open house for private placements"
• (2013 September) Mark Schoeff Jr., "Private-placement advertising begins quietly"
• (2013 August) Telis Demos, "Some IPOs Aim for Small Investors"
• (2013 July) "David Weild Announced as Keynote Speaker for Leading Crowd Funding Industry Event"
• (2012 October) Senator Ted Kaufman
• (2012 April) Xiaohui Gao, Jay R. Ritter, Zhongyan Zhu,"Where Have All the IPOs Gone?"
• (2012 January) Joshua M Brown, "New Markets Movement: Bring Back the IPOs"
• (2011 October) White House Jobs Council's Interim Report
• (2011 April) Mary L. Shapiro, SEC Chairman
• (2011 March) Darrell E. Issa, Chairman, House Committee on Oversight and Government Reform
• (2011 February) Nathaniel Popper, "New marketplaces match buyers and sellers of private firm shares"
• (2011 February) Nathaniel Popper, "Trade in privately held shares rises dramatically"
• (2010 October) Julie Segal, "Death of the IPO"
• (2010 March) Arleen Jacobius, "Weakened market and lack of bank support limit firms' ability to sell holdings"
REPORTS & TESTIMONY
JOBs Act
David Weild and Ed Kim co-authored the principal studies, published through Grant Thornton, that led to the JOBS Act and were broadly cited by the IPO Task Force Report to the U.S. Treasury that helped create the new designation of “Emerging Growth Company” in the US. These studies shaped other key provisions of the JOBS Act in both the public and private equities markets.
IssuWorks principals have authored numerous studies that have found an audience with trade associations and government and regulatory bodies. Some of these studies have been entered into the Congressional Record and Federal Register while IssuWorks’ principals have worked with, participated in or testified in front of:
• The U.S. House of Representatives Financial Services Subcommittee
on Capital Markets
• The U.S. Treasury’s Capital Formation Conference
• The New York Stock Exchange
• The NASDAQ Stock Market
• The National Venture Capital Association (NVCA)
• The NYSE-NVCA Blue Ribbon Panel
• The CFTC-SEC Joint Panel on Emerging Regulatory Issues
• The American Bar Association
• The Securities Regulation Institute
David Weild and Ed Kim co-authored the principal studies that were cited by, and served as a basis for, the IPO Task Force Report to the U.S. Treasury that helped create the new designation of “Emerging Growth Company” in the US and shaped key provisions of the JOBS Act.
MEDIA & PUBLIC OPINION
IssuWorks principals and senior executives frequently appear in leading business media, including The Wall Street Journal, The New York Times, The Economist, CNBC, Bloomberg and Fox News.
RESOURCES
The following are some of the pivotal works authored or contributed to by David Weild and team.
NEW! (12-03-2014) SEC Comment Letter
- By David Weild
"I applaud the U.S. Securities and Exchange Commission for its initiative and direction. The focus on the health and well-being of markets generally, and of small capitalization companies and capital formation specifically..."
(5-02-2014) Investors Deserve 'Schoolyard Fairness' In Markets
- By David Weild
"Every school-aged kid knows the difference between right and wrong, fair and unfair. Investors know it too. Today's stock markets are systematically unfair..."
"Improving access to equity capital in the United States is one of the most important needs for our economy. Access to equity capital fuels job growth and innovation, which, in turn, enables free markets to solve problems from poverty and unemployment to finding cures to cancer, global warming and many of the other challenges that this generation, and every other generation, will face."
Read More | See all testimonies
(7-11-2013) OECD Report: Making Stock Markets Work to Support Economic Growth
- By David Weild, Edward Kim and Lisa Newport, presented to the 35 member nations on April 16, 2013, by Mr. David Weild under the agenda item "Roundtable on Corporate Governance, Value Creation and Growth."
(6-21-2013) Formulating your company’s growth strategy
- By David Weild and Edward Kim
Reasearch and presentation regarding the latest on the JOBS Act, the future of IPOs, and the capital markets.
IPO Task Force Report / Rebuilding the IPO On-Ramp
David Weild co-authored the principal studies that were cited by, and served as a basis for, the IPO Task Force Report to the U.S. Treasury that helped create the new designation of “Emerging Growth Company” in the US and shaped key provisions of the JOBS Act.
Written statement in Congress on Regulation A
Statement of David Weild before the U.S. House of Representatives Financial Services Committee Capital Markets and Government Sponsored Enterprises Subcommittee.
Wall Street Equity Analyst Turnover Rates Are At Disruptively High Levels
Analyst turnover is highly disruptive to newly public and other modestly covered companies and their investors. Excessive analyst turnover is highly disruptive to newly public and other modestly covered companies and their investors. We believe that these disruptions are likely to lead to higher long-term costs of capital and that efforts by issuers to minimize these risks will be rewarded over the long run.
"U.S. capital markets have undergone a profound transformation in less than a generation, leaving both investors and the U.S. economy worse off. U.S. public markets have lost nearly half of all listed companies since their peak in 1997. While there were 8,823 exchange-listed companies in 1997, at the end of 2012 only 4,916 remained. Moreover, U.S. stock markets are now — on a gross domestic product (GDP) weighted basis — some of the worst in the world, particularly for small companies."
Market structure is causing the IPO crisis -- and more
- By David Weild and Edward Kim
"Market structure is causing the IPO crisis -- and more" brings together two previously published studies, "Why are IPOs in the ICU?" and "Market structure is causing the IPO crisis".
Read More
Timeline for the Campaign to Fix U.S. Stock Markets
Timeline of Weild & Kim’s efforts and the response to those efforts in The Campaign to Fix U.S. Stock Markets to Support Job Growth & The US Economy.
SEC Roundtable on Decimalization
David Weild participated in Panel 1 of the SEC's Roundtable on Decimalization that was held at the SEC's offices in Washington DC on February 5, 2013. Two of the panelists, Jeff Solomon (CEO of Cowen & Company) and Scott Kupor (COO of Andreesen Horowitz) subsequently co-chaired the "Equity Capital Formation Task Force".
Read More | www.equitycapitalformationtaskforce.com
The trouble with small tick sizes
David Weild and Edward Kim co-authored this study about how larger tick sizes will bring back capital formation, jobs and investor confidence. "In our view, decimalization — a euphemism for the collapse in trading spreads, tick sizes and commissions — decimated the U.S. IPO market when it began in earnest with the 1998 implementation of Regulation ATS (alternative trading systems)."
Read More
"There has been a computer arms race unleashed on Wall Street by changes in regulation and technology and we all need to catch up. This computer arms race is displacing fundamental investing with computer‐trading based
strategies and has created new forms of systemic risk, a loss of investor confidence, and a disastrous decline in
primary (IPO) capital formation and the number of publicly listed companies in the United States. "
- By David Weild and Edward Kim
A study of systemic failure in the U.S. stock markets and suggested solutions to drive economic growth.