Nov 9: 5 Things You Need to Know This Week

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Nov 9: 5 Things You Need to Know This Week

November 9, 2020




Video of the Week: Congratulations to Gila Community School Construction/Leaseback Program for receiving the Deal of the Year - Government Impact Award at this year's NAFOA Leadership Awards. Watch Governor Stephen Roe Lewis' acceptance speech from #NAFOAFall2020.

1. ELECTION 2020:

SIX CANDIDATES WON THEIR RACES, GIVING THE NEXT HOUSE A RECORD NUMBER OF NATIVE MEMBERS

Native congressional candidates have once again made history this Election Day.

Thirteen Natives from eight states were vying for 11 House seats Tuesday. 

Six won their races, meaning the next U.S. House will have a record number of voting Native members.

Among the familiar faces in Indian Country who will be returning to office: Rep. Deb Haaland, Laguna and Jemez Pueblo, and Rep. Sharice Davids, Ho-Chunk, the first two Native women elected to Congress. Reps. Tom Cole, Chickasaw, and Markwayne Mullin, Cherokee, also won their reelection bids.

Joining them will be Republican Yvette Herrell, Cherokee, in New Mexico, and Native Hawaiian Kaiali’i “Kai” Kahele, a Democrat.

Kahele's win gives Hawaii just its second Native Hawaiian in Congress since statehood.

Read more from Indian Country Today

2. EVENTS: 
JOIN NAFOA AND THE FEDERAL RESERVE TO DISCUSS THE COMMUNITY REINVESTMENT ACT MODERNIZATION AT THE NCAI NATIONAL CONVENTION

Access to capital, credit, and financial services is a significant issue for tribal nations and Indigenous people. Join members of the Board of Governors of the Federal Reserve System, NAFOA Executive Director Dante Desiderio, NAFOA Board Secretary Melanie Benjamin, and panelists to discuss Community Reinvestment Act in Indian Country and efforts to modernize the act. By gathering feedback on the most important issues and the role of financial institutions in increasing access to capital in Indian Country, the Fed can work towards a CRA regulatory framework that considers the unique opportunities in Indian Country.

This presentation is free and open to the public and is part of the NCAI 77th Annual Convention & Marketplace. Join Tuesday, November 10, 2020, at 5:00 p.m. ET.  Register here

3. EDUCATION:  
AMERICAN INDIAN LAW SCHOOL SCHOLARSHIP AT HARVARD LAW SCHOOL

Join the American Indian College Fund on November 10th to learn more about the College Fund's American Indian Law School Scholarship at Harvard University Law School, and ask your questions. Register for the event at collegefund.org/harvardlaw

The American Indian College Fund Native scholars at Harvard Law School have what it takes to succeed. A law degree is the foundation to creating strong future leaders. The American Indian College Fund will award the second American Indian Law School Scholarship in the fall of the 2021-2022 academic year. The scholarship covers all costs of attendance, including tuition for the three-year course of study at Harvard Law School, for one Native student. 


4.  PROFESSIONAL DEVELOPMENT:
AISES AND BERKELEY HAAS PRESENT: HOW ENTREPRENEURS USE DATA WISELY

Berkeley Haas is proud to present a webinar as part of this series focusing on how entrepreneurs can use data wisely in making key business decisions. We will discuss how to collect and manage data, prioritize key performance indicators, and run successful companies. Join on Wednesday, November 18th at 4:00 pm PST/ 7:00pm EST in this webinar designed for entrepreneurs and entrepreneurially-minded leaders from Native and Indigenous communities!

Click here to register for the How Entrepreneurs Use Data Wisely with Berkeley Haas.

Learn more about Berkeley Haas by clicking here.


5. FROM THE NAFOA NAVIGATOR:

SEC RULE CHANGE ALLOWS TRIBES TO BE ACCREDITED INVESTORS

By Christine Swanick and Daniel Clausen at Sheppard Mullin

The Securities and Exchange Commission (“SEC”) recently amended its rules to permit tribes to qualify as “accredited investors” which allows tribes to access private investments in private equity, hedge and venture capital funds and invest directly in private capital raises by businesses. Consequently, tribes now have an additional tool for economic diversification and a greater opportunity to generate income – investment income.

The New Final Rule

The SEC’s action, taken on August 26, 2020, amends Rule 501(a) of Regulation D (the “Final Rule”), promulgated under the Securities Act of 1933, as amended (“Securities Act”). The amendment adds a category of “accredited investor” defined as “an entity . . . not formed for the specific purpose of acquiring the securities offered, owning investments in excess of $5,000,000.” It is this new category of “accredited investor” that is most significant to tribes. While tribes are not expressly identified in the amendment language, the SEC in its Final Rule stated, “[w]e believe the term ‘entity’ is sufficiently broad in this context to encompass Indian tribes and the divisions and instrumentalities thereof ”.

 
Read more on page 113-114 in the NAFOA Fall 2020 Navigator.