Still Embracing Abundance
“Embrace Abundance.” As many of our loyal, long-time customers will recall, that was the tagline of Securities Mosaic (then Knowledge Mosaic) a few years ago, as we were engaged in an aggressive content expansion initiative that would complement our core Securities offering with administrative materials from dozens of federal regulators. The most direct legacy of that vision today is our Laws, Rules, and Agency Materials search page, which still offers “abundant search” (not to mention alerting) across more than a thousand federal and SRO data sets. You want Memoranda of Understanding from the CFTC? Check. Dodd-Frank rulemaking from the Department of the Treasury? Check. FCPA enforcement releases from the Department of Justice? Check. Current FINRA rules? Check. Want to search across all of them at once? No problem.
A lot has happened to Securities Mosaic (not to mention the legal and securities market as a whole) since then. But one thing that’s remained constant is our commitment to the concept of abundance. Today more than ever, our product is distinguished by the breadth and abundance of its collection, which has continued to expand significantly in recent years. To cite three prominent examples, we’ve exponentially increased our store of No-Action Letters, added a complete archive of SEDAR filings, and made available over 20,000 Private Placement Memoranda for issuances under Regulation D, Regulation S, and Rule 144A.
And we’re not stopping there. Here’s a preview of what new content is coming soon to Securities Mosaic subscribers. Within the next week or two, our PPMs database will be augmented by a second data source exclusively dedicated to recent 144As. Jump on the search page in mid-February, and you’ll see an additional 400 such documents representing a thousand new unregistered securities offerings, with more in the pipeline. Moreover, as Winter fades to Spring, we’ll debut another major new searchable database: UK Filings, featuring documents from the National Storage Mechanism of the UK’s Financial Conduct Authority.
With the addition of Canadian and UK filings– not to mention the thousands of non-U.S. prospectuses scattered throughout our PPMs database — Securities Mosaic takes a major step toward offering a content portfolio that better reflects the truly global and integrated character of Securities and Capital Markets in the 21st Century. To embrace abundance means, in large part, to extend beyond the political boundaries of the U.S. (To varying degrees, some of our competitors still tend to be confined in this way.)
It also continues to mean extending beyond, or recognizing the fluidity of, practice area boundaries. “Securities” does not exist in isolation any more than the U.S. exists in isolation in today’s global economy. Most obviously, M&A and Banking/Finance can be understood as adjacent practice areas, so often tightly intertwined with companies’ pursuits on the capital markets. Factor in securities disclosure obligations by public companies, and an even broader picture emerges — encompassing any and all material corporate actions (especially if they are subject to regulation).
So Securities really is a mosaic. And it includes a broad swath of content, not confined by arbitrary boundaries or locked up in silos. We’ve understood that for a long time, and even as we’ve evolved and refined our product vision over the years, we’ve never wavered from this embrace of abundance. Sure, we’ll keep innovating and develop new functionalities and search capabilities (think: Reference Retriever, batch download, new filer type search fields) — but if the content isn’t there first, what good is searching? Content is king.