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Crowdfund Act (S. 2190)

document Crowdfunding
Summary This afternoon U.S. Senators Brown (R–MA), Merkley (D–OR), and Bennet (D–CO) introduced the bi-partisan Crowdfund Act (S. 2190), legislation that would lift much of the regulations restricting the crowdfunding of small businesses and entrepreneurs. Start-ups could solicit up to $1 million per year from individual investors, though they would have to use SEC-accredited platforms to do so. Investors with annual incomes less than $100,000 could invest up to $2,000, or 5 percent of their income. Wealthier individuals would have considerably more freedom; they could invest up to 10 percent of their income, with a cap at $100,000.
Description Text of the Crowdfund Act (S. 2190), introduced today by U.S. Senators Brown (R–MA), Merkley (D–OR), and Bennet (D–CO).

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Comments

  • Dante Hamilton Dante Hamilton Mar 14, 2012 01:48 pm GMT

    From what I read so far in this bill it is pathetic. Basically it guarantees the same 'Ole Boy Wall Street network exists in the USA. You still need to get a Broker to do the deal or a broker with a crowdfunding website.

    This isn't crowdfunding. It's Wall Street 2.0 for Startups! What joke. Unless I am missing something, I have no use for this bill. I can call up an investment banker I know and have her do the same thing without using the Internet. How is this a compromise solution It's a pathetic sell-out.

    I hope it doesn't pass.

  • Louis C. Magill Louis C. Magill Mar 19, 2012 04:48 pm GMT

    If the bill is passed, it still has to be reconciled with the JOBS Act, particularly H. 2930. Then that bill will go to both the House and Senate for a vote. I would highly recommend that you voice your opinion to the members of the Senate Banking Committee and to the members of the subcommittee on Securities et al. Now is the time to make your position known to them.

  • Guest Tal Mar 23, 2012 04:18 pm GMT

    I see the Crowdfund Act not just as tool to reinvent private sector investment. The bill will also help spotlight true Crowfunding - the donation model as apposed to the investment model - and show how this model is an effective platform to mobilize communities and raise funds. Read my full analysis at http://wp.me/p25bfp-4C

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