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David Drake, a founding board member of Crowdfund Intermediary Regulatory Advocates or CfIRA, writes in with his suggestions on Regulation D, Section 508 crowdfunding safe harbor.
David Drake, founding board member of Crowdfund Intermediary Regulatory Advocates, continues his series designed to address some of the common issues and questions around the JOBS Act. In this installment, Drake discusses general solicitation regulation.
On his personal blog, Brito writes: "Of course, while it’s not illegal, publishing these documents is probably not considered polite in the rarefied diplomatic circles of the ITU. So,...
Imagine seeing Donald Trump on TV saying, “Invest in my new casino – give me $10,000 and you get 10,000 stock shares!” This is the promise of the new Securities & Exchanges Commission (SEC) Regulation D, Rule 506 exemption proposal close to being introduced, and this is how it affects you.
The JOBS Act gave the Securities and Exchange Commission until Dec. 31 to determine how to implement and enforce new rules allowing entrepreneurs to raise up to $1 million in equity through online...
As a result of this week's live chat, the SRO working group learned that there is some confusion around whether and when platforms can charge a fee for facilitating crowdfunding. We invite you to join members of CFIRA's leadership group and our securities attorney's for next week's live chat to clarify this issue.
Specifically, platforms have the following abilities:
• Until July 4, 2012, platforms may not facilitate any form of "solicitation" or advertising of raises;
• From July 4, 2012 until January, 2013, platforms may only facilitate "Regulation D" offerings, must limit all offerings to accredited investors, and cannot charge a fee for that facilitation;
• After January, 2013, platforms may offer crowdfunding offerings (not Regulation D offerings), and may charge a fee to facilitate those offerings.
We will discuss this in more detail to answer questions you may have, and welcome you to our next Live Chat at 9am PDT / 12pm EDT / 5pm BST on 16 April 2012.
Earlier this week, CareerFuel.net launched a petition to advocate that the Securities and Exchange Commission (SEC) meet their year-end deadline for the launch of new regulations that will enable...
EarlyShares.com, Inc. (“EarlyShares”), the premiere crowdfunding platform, has entered into a partnership with Point Capital Partners, LLC under their subsidiaries EarlyShares Pro and Point...
“As the industry evolves and the Club members’ particular needs are fleshed out, EarlyShares will work with its VC and Angel members to structure individualized plans catered to their desired...
Using CrowdClear, leading funding portal RockThePost launched its investment platform this week, connecting high quality entrepreneurs with accredited investors interested in new startup...
Even if the crowdfunding exemption bill passes as is, there will still be any number of issues unresolved until the SEC fills in the gaps in the legislation through interpretive regulations. These...
There are two sides to every story. The same can be said for those who support and those who are against Crowdfunding. The proponents tend to be entrepreneurs, innovators, and America’s jobs engine. They are the ones advocating in favor of allowing entrepreneurs to raise a limited amount of capital from their friends, family & community. They are a fragmented group by nature, heads in the sand, focused on their businesses without deep pockets or the backing of special interests. The major opponents to crowdfunding are the SEC, FINRA and NASAA. They are government bureaucratic agencies with a vested interest in the current system, widespread oversight and deep pockets. Their job is to protect and regulate the large, often complex, public markets. However they tend to do so at the expense of small businesses. Overly bureaucratic rules, we see time and again, have a trickle-down effect on small businesses that hamper growth.
Find below a summary of the arguments for and against Crowdfund Investing.
In this guest post, Seattle-based attorney Joe Wallin suggests altering existing regulation to allow for legal, effective crowdfunding in the United States.
Text of the Crowdfund Act (S. 2190), introduced today by U.S. Senators Brown (R–MA), Merkley (D–OR), and Bennet (D–CO).
The Securities and Exchange Commission (SEC) will miss a July 4 deadline to issue a number of JOBS Act regulations — including one that would allow advertising on private securities offerings — SEC Chairman Mary Schapiro told a U.S. House oversight panel on Thursday. The tight time limits imposed by the JOBS Act “are not achievable,” stressed Schapiro.
SEC Regulation D defines accredited investor as any person who has a net worth of $1 million or more, or who makes $200,000 or more per year ($300,000 if income from a spouse is combined). Less...
Senator Jeff Merkley (D-OR) recently sent a letter to President Obama regarding crowdfunding regulation. The letter discusses a number of issues the senator thinks the SEC should consider when formulating crowdfunding rules. These include funding portal regulation, investor protections, and advertising.
Hopes being placed on prospective SEC regulations are based on a false promise. Non-accredited investment crowdfunding under the JOBS Act was never meant to actually work.
“The spirit of the JOBS Act was to encourage innovation and expand the experimental platform of crowdfunding, and its successes or failures should be determined in the marketplace, not by...
Jim Greenwood, BIO’s President and CEO, made the following statement: “BIO supports expeditious and effective implementation of the JOBS Act. In the year since the law passed, biotech companies...
Founded in 2010, the industry website, Crowdsourcing.org, is a neutral organization dedicated solely to crowdsourcing and crowdfunding. As one of the most influential and credible authorities in the crowdsourcing space, Crowdsourcing.org is recognized worldwide for its intellectual capital, crowdsourcing and crowdfunding practice expertise and unbiased thought leadership.
![Crowdfunding: What's Legal and When [Live Chat]](/images/resized//editorial_13431_190x100_editorial_crop.jpg?1334263135)
![Answers to the arguments against making crowdfund investing legal [Part 1]](/images/resized//editorial_10079_190x100_editorial_crop.jpg?1326147637)
