On Wednesday, Dec. 14, at the invitation of Chairman Senator Jack Reed (D-RI), Mark Hiraide testified before the Senate Committee on Banking, Housing and Urban Affairs Subcommittee on Securities, Insurance and Investment at a hearing titled "Examining Investor Risks in Capital Raising." Hiraide testified about several bills before Congress that would amend federal securities laws to facilitate capital access by emerging growth companies. (View a pdf of Hiraide's testimony)
In addition to Hiraide, Stephen Luparello, vice chairman of the Financial Industry Regulatory Authority, John F. Cogan, Jr., Professor of Law and Economics at Harvard Law School, Kate Mitchell, managing director, Scale Venture Partners, and Barry Silbert, CEO, SecondMarket Inc., also testified.
Hiraide is a partner with the law firm of Petillon Hiraide LLP. He prosecutes and defends publicly traded companies, directors and officers, broker-dealers and investment advisers in cases relating to mergers and acquisitions, securities offerings, and investment management; represents parties in SEC, NASD, DOJ and DOC investigations and enforcement proceedings; advises boards of directors, including special committees and senior management, on issues including corporate governance, discharge of fiduciary duties, internal investigations and SEC compliance, and on transactions including private placements of securities to institutional and 'angel' investors, public financings, including, IPOs, PIPEs and reverse mergers, mergers and acquisition transactions by public and private companies, and trading and listing applications on the NASDAQ, AMEX and OTCBB; represents broker-dealers and investment advisers in regulatory matters; and testifies as an expert witness in corporate and securities law.
Hiraide began his career as an attorney for the U.S. Securities and Exchange Commission. He headed an Enforcement Branch in the SEC's Los Angeles Regional Office and later was appointed by the United States Attorney's Office as a Special Assistant United States Attorney to prosecute a major criminal securities fraud case. He completed his career at the SEC as an Attorney-Advisor in the SEC's Division of Corporation Finance in Washington, D.C.