Politics

NASAA Tells SEC to Make Definition of an Accredited Investor Less Inclusive

Should you be an accredited investor

The North American Securities Administrators Association (NASAA) has published a comment letter expressing their opinion on the definition of an Accredited Investor. As mandated by Dodd-Frank, the Securities and Exchange Commission (SEC) must review the current definition on a periodic basis. As it stands today,… Read More

NASAA Proposes State Filing Requirement for Reg CF Issuers. Industry Advocate Says this “Screams of Greed & Fear”

Judith Shaw at SEC IAC

Last week on day one of Reg CF, the North American Securities Administrators Association (NASAA) posted a request for comments on a proposed rule.  NASAA desires the requirement of an additional filing for Reg CF issuing companies to be completed in those states where either… Read More

Solicitor General’s Office Slaps Down Second Circuit Madden Holding as Erroneous

Midland vs Madden Supreme Court 2

After being invited to file a brief to the Supreme Court, the Solicitor General’s Office filed a brief this past Tuesday, May 24, 2016 and weighed in on the Madden v. Midland Funding, LLC case. Or rather, by weighing in I mean they blatantly shot… Read More

Breakaway Funding Launches Petition to Support California Equity Crowdfunding Exemption

California Flag

As previously reported, the California legislature is considering whether or not to legalize intrastate crowdfunding. This is not the first time the Golden State has attempted to create its own rules to allow investors to back small companies online. But the previous efforts fizzled as… Read More

SEC Commissioner Piwowar Nails it in Remarks to ACSEC Discussion on Accredited Investor Definition

Michael Piwowar ACSEC 2

“Should the Commission consider doing away with the notion of a so-called “accredited investor” altogether?” The above question is posed not by this digital publication but by a sitting SEC Commissioner, Michael S. Piwowar. The Commissioner was speaking at the recent gathering of the Advisory… Read More

Comments on SEC’s Compliance & Disclosure Interpretations Regarding Regulation Crowdfunding Guidance

Anthony Zeoli at SEC

  The crowdfunding regulations of the Securities and Exchange Commission (SEC) became effective on May 16, 2016, and the agency has issued Compliance and Disclosure Interpretations (C&DIs) providing interpretive guidance on Regulation Crowdfunding. “It is encouraging to see the SEC being so proactive in issuing… Read More

ACSEC Debates Definition of an Accredited Investor. SEC States 8 Cases of Possible Fraud Associated with JOBS Act Exemptions

Grant 50 Money Accredited

    The SEC Advisory Committee on Small and Emerging Companies met yesterday at the SEC HQ on Capitol Hill. The main topic of discussion was the definition of an Accredited Investor. SEC Chair Mary Jo White was joined by her two remaining Commissioners, Michael… Read More

Crowdfund Insider CEO Andrew Dix Receives New Capital Markets Leadership Award from CFIRA, SBE Council and CCA

andrew dix

During the inaugural Crowdfunding Technology Showcase and Celebration in Washington, D.C., CrowdFund Intermediary Regulatory Advocates (CFIRA), Crowdfund Capital Advisors (CCA) and the Small Business & Entrepreneurship Council (SBE Council) presented Crowdfund Insider Co-founder and CEO Andrew Dix the “New Capital Markets Leadership Award” for Media. Crowdfund Insider, the leading… Read More

Global Crowdfunding & Local Regulation: From Light Touch to Prescriptive Bespoke Rules

The Evolving Universe of Crowdfunding Regulations

Crowdfunding is flourishing all around the world, exhibiting double or even triple digit growth rates in many markets, from the US to the UK to China. Governments have seen this boom as both an opportunity and a challenge. From 2012 on, they started responding by… Read More

Title III Crowdfunding Became Legal on May 16: What It Does & What’s Still Lacking

Look Under the Hood of Regulation CF Reg

  Monday, May 16, 2016 is the first day that ordinary people—not just the super rich—will be able to invest in the next Uber or Snapchat. That’s because Title III of the JOBS Act, otherwise known as Regulation Crowdfunding or Reg CF, legalizes retail investment… Read More

WeFunder, StartEngine & NextSeed Blaze Trail for Title III / Reg CF Filings

Reg CF Title III

  Caps off to Title III!  As promised, WeFunder understood the potential of Reg CF and its opportunities for capital formation and entrepreneurship.  Operating an accredited crowdfunding platform since the fall of 2013 and then adding Reg A+ last year, Wefunder has helped fund 110 companies with over… Read More

What is Title III Crowdfunding and Why Should I Care?

REGULATION CF TITLE III

Overview of the regulatory framework Although the Jumpstart Our Business Startups or JOBS Act was passed in April of 2012, the rules implementing Title III of that Act relating to retail investment crowdfunding have been a long time coming. They were finally promulgated on October… Read More

Agile is The New Super-Power: Meanwhile the USA jostles its way to the Back of the Queue Just as a Revolution Races around the Globe

Wall Street Bull Backside

In August 2014 Chancellor George Osborne set his stall out clearly stating the UK government’s intention to make London the FinTech capital of the world – and so maintain its position as, arguably, the world’s most important financial center in the years to come. It’s… Read More

House Financial Services Subcommittee on Capital Markets Schedules Hearing on Several Legislative Proposals

Garrett 2

The Subcommittee on Capital Markets, part of the House Financial Services Committee, has schedule a hearing for Tuesday, May 17th at 2PM entitled “Legislative Proposals to Enhance Capital Formation, Transparency, and Regulatory Accountability”. The Subcommittee will examine the current competitiveness of U.S. capital markets and regulatory… Read More

Bipartisan SEC Small Business Advocate Bill May Soon Become Law

S. 2867 Small Business Advocate

The bipartisan SEC Small Business Advocate Act of 2016 (HR 3784) sponsored by Representatives Duffy  (R-WI) and Carney (D-DE), cruised through the House of Representatives earlier this year.  The bill seeks to create a firmer voice advocating on behalf of small business within the Securities and Exchange… Read More

UK’s FCA Forms “Fintech Bridge” with Singapore’s MAS

Singapore at Night

The UK and Singapore have established a “fintech bridge” that will help financial technology firms and investors from each country gain access to the other. Billed as the first of its kind, the bridge enables the UK’s Financial Conduct Authority (FCA) and the Monetary Authority of Singapore… Read More

SEC ACSEC Committee Will Review Definition of an Accredited Investor on May 18th

Should you be an accredited investor

The SEC Advisory Committee on Small and Emerging Companies (ACSEC) has announced its next meeting scheduled to take place on Wednesday, May 18th at SEC headquarters. According to information provided by the SEC, ACSEC will review and discuss the very important subject regarding the definition… Read More