Perspective: SEC Small Business Forum on Capital Formation Recap

SEC Small Business Capital Formation Forum 2014

The 2014 Securities and Exchange Commission Government-Business Forum on Small Business Capital Formation ensued on November 20, 2014 at the SEC headquarters in Washington, D.C. In usual form, since the signing of the Jumpstart Our Business Startups Act (JOBS Act), the crowd (attorney’s, issuers, intermediaries, regulators, investors, service providers) scurry to wait with baited breathe to hear the… Read More

Brief: Number of Private Sector Businesses at All Time High in UK

Double Decker Bus England UK

According to an official release from the UK Department for Business, Innovation & Skills, private sector firms stand at an all time high topping 5.2 million businesses.  This record number was achieved by an annual increase of businesses of approximately 330,000 or 6.75% versus 2013.  The 5.2 million business are almost exclusively small enterprises employing… Read More

SEC Commissioner Gallagher: Millionaires Can Fend for Themselves

SEC Why Should We Spend Limited Resources on Millionaires Gallagher

  Last week I had the opportunity to attend the 2014 Government-Business Forum on Small Business Capital Formation in Washington D.C. where Commissioner Daniel M. Gallagher gave his opening remarks after the first panel. In what I can only refer to as a “mic drop” moment, he brought the audience to instant applause when we… Read More

SEC Government – Small Business Forum: A Tale of Two Gatherings

SEC Small Business Capital Formation Forum 2014 Mary Jo White

For those of you who have been reading my articles over the past four months, I have tried to create heightened awareness of a perennial SEC event, the SEC Government-Small Business Forum, an annual event borne out of bi-partisan legislation in 1980. Its primary purpose: to highlight and address unnecessary impediments to small business capital… Read More

Center for Competitive Politics Files FEC Complaint: Mayday PAC Violated Campaign Finance Laws

Mayday PAC

The Center for Competitive Politics (CCP) today filed a complaint with the Federal Election Commission against Mayday PAC, the self-proclaimed “SuperPAC to end all SuperPACs,” founded by Harvard Law Professor Lawrence Lessig. The complaint documents that at least twelve Mayday PAC television ads, radio ads, and mailings failed to comply with federal disclosure laws by not including required disclaimers. CCP… Read More

SEC Announces Next Meeting of the Advisory Committee on Small and Emerging Companies

Washington DC Capitol Building

The Securities and Exchange Commission today announced that its Advisory Committee on Small and Emerging Companies will hold its next meeting on Wednesday, Dec. 17, beginning at 9:30 a.m. ET.  The committee will focus on the interests and priorities of emerging and smaller public companies. “Small and emerging companies contribute greatly to the strength of… Read More

House Financial Services Committee Chair Hensarling: SEC Must Take Action on Promoting Small Business

rep jeb hensarling

On the eve of the annual SEC Forum on Small Business Capital Formation, House Financial Services Committee Chair Jeb Hensarling is calling out the SEC to take action on promoting small business.  In recent years the annual event at the SEC has become a more popular venue to discuss methods to aid small business –… Read More

Oregon Releases Proposed Intrastate Crowdfunding Exemption Rules; BUT Will They Be Useful?

Business Oregon

While just recently uploaded, sometime in October David Tatman, the administrator of the Division of Finance and Corporate Securities, filed a “Statement Of Need And Fiscal Impact” with the Oregon Secretary of State proposing , what he refers to as, “Community Public Offerings” (CPOs) … which, between you and I, are intrastate crowdfunding offerings. While… Read More

Perspective: Title III, Title IV and the Politics of Regulation

Democrats Republicans

  In my May 2014 article, “The Bell Tolls for Title III”, I laid out the reasons why it was highly unlikely that the SEC would issue Title III rules before the November elections and predicted that should the Senate flip to Republican control, we would see legislative changes to the JOBS Act. I have… Read More

CEI to Congress, Regulators: End Millionaires Only Rule Now

JP Morgan Millionaire

CEI Report on Crowdfunding Tells Congress & Regulators to End ‘Millionaires Only’ Rules for Investment During Global Entrepreneurship Week, the Competitive Enterprise Institute (CEI) released a new report on how regulation threatens entrepreneurs and their abilities to start businesses, create jobs, and bring new products to market. The report, titled “Declaration of Crowdfunding Independence: Finance… Read More

SEC Set to Hold Annual Government-Business Forum: Reportedly Will Move Aggressively With Crowdfunding


All five Security  and Exchange Commission (SEC) commissioners are scheduled to speak at the Annual Government-Business Forum on Small Business Capital Formation on Thursday (November 20th) from 9 a.m. to 5:30 p.m. It is expected that they will release significant news on Title III and Title IV. As additional evidence that the SEC is scrambling to… Read More

Taxpayers Australia: Consider Tax Obligations Triggered Through Crowdfunding

Taxpayers Australia

Taxpayers Australia, a non-profit entity that promotes “fairer and more transparent taxation system for every Australian taxpayer” has published a cautionary note on individuals using crowdfunding and the potential tax liability that may be incurred. The advocacy group warns that the Tax Office has taken into account the Goods and Services tax (GST) may be… Read More

Dear Congress: Please Help Our Small Businesses

Dea Congress Please Help

My friend Dan Lear and I wrote the attached letter to Congress to try to encapsulate in one place our various public policy suggestions to help startups. What you will find in the letter are 13 very specific and detailed public policy initiatives that Congress could act on today. I know, we haven’t talked about… Read More

On SEC Proposed Regulation A+: Has Commissioner Stein Succumbed to the NASAA Kool-Aid?

Kara Stein testifying

Though SEC Commissioners Daniel M. Gallagher and Kara Stein may have travelled on the same plane on the way to the Los Angeles County Bar Association Annual Securities Regulation Conference to address a room of securities industry professionals on October 24, judging by their public remarks they were certainly not on the same page –… Read More

SEC Small Business Forum Publishes Agenda, Panelists

SEC Commissioners

The Securities and Exchange Commission has published the agenda, along with the names of the associated panelists, for the 2014 SEC Government-Business Forum on Small Business Capital Formation.  Each of the five sitting Commissioners are expected to be in attendance including Chair Mary Jo White. The scheduled topics for this years forum include  secondary markets… Read More

Nesta: 44 Facts About Alternative Finance (Infographic)

British Pounds Money £10

Nesta and Cambridge University recently published an update on crowdfunding, peer to peer lending and all forms of alternative finance in the United Kingdom.  Crowdfund Insider reported on the complete publication but buried inside the document was an infographic gem.  The creative team at Nesta have thankfully published a stand alone image that shares 44… Read More

Every US Politician & SEC Regulator Should Watch this Video

Richard Swart

Dr. Richard Swart, of UC Berkeley and Crowdfund Capital Advisors,  recently addressed the Deep Impact Conference in the UK via video to address the hot topic of crowdfunding and regulation.  Swart is a frequent speaker on crowdfunding and is a highly respected researcher on the new form of finance. Dr. Swart answers the question regarding… Read More

Cambridge’s Dr. Mia Gray Clarifies Collaborative Nesta Report: UK Economic Geography Update

Dr Mia Gray Cambridge University 2

Dr. Mia Gray opines about the recent Nesta and University of Cambridge report.   To recap, Nesta, a UK based innovation charity and staunch proponent of entrepreneurship and creativity, recently published an update on the alternative finance industry in the United Kingdom.  Crowdfund Insider JD Alois explains, “The report notes this new financial sector, that includes crowdfunding, peer to peer… Read More

Minnesota Can’t Wait on Feds for Crowdfunding Regulations as Group Forms to Push Intrastate Rules

parking meter time

Minnesota has joined the growing list of states that may want legalized investment crowdfunding now -and not just for accredited investors.  Recognizing that Title III is encumbered with excessive costs and a too low cap on amounts an issuer may raise,  a group called “MNvest” has formed to champion the cause in the name of… Read More