Tagged: cfira

Crowdfunding Stakeholders Pressure House, SEC To Act

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Yesterday the Crowdfund Intermediary Regulatory Advocates (CfIRA), an industry group representing crowdfunding intermediaries, submitted a letter to the House Subcommittee on Oversight and Investigations urging those frustrated with inaction to apply pressure to those who have the power to enact change. This letter precedes tomorrow’s hearing in front of the same subcommittee. Last week a… Read More

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Crowdfunding Stakeholders Leave DC Optimistic, Wanting Action

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According to sources in the crowdfunding industry who were present for yesterday’s meetings in Washington, there is reason for cautious optimism in regards to Title III implementation. The message from the industry was clear; We’ve examined the problem domain and we’re ready to go, but we need this important piece of legislation to go into… Read More

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What is a Security in the Crowdfunding Era?

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With the advent of equity crowdfunding, a Tennessee University Law Professor Joan MacLeod Hemingway suggests it may be time to rethink the structure of financial and financially regulation in the United States and to look at the bigger picture of how crowdfunding and other hybrid investment properly fits into a reformed, regulatory scheme. In an article entitled “What is… Read More

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FINRA AND SEC MOVE CLOSER TO JOBS ACT IMPLEMENTATION

Kim Wales founder of Wales Capital

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“CFIRA welcomes the SEC’s approval of FINRA’s Form for Funding Portals. We see this as a very positive and proactive sign that both agencies intend to prioritize rule making on the JOBS Act. This information request is the first public and meaningful step toward developing rules and the implementation of securities-based Crowdfunding,” says DJ Paul… Read More

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CFIRA Optimistic About Crowdfunding Timeline

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Earlier this week FINRA invited prospective Crowdfunding portals to voluntarily file an interim funding portal form. The Crowdfund Intermediary Regulatory Advocates (CFIRA) and sister organization the Crowdfunding Professional Association(CfPA) have conducted a thorough review of the FINRA Registration Process Inquiry form for Crowdfunding Portals, and are optimistic about the progress that is being made toward the implementation of Title II and Title III… Read More

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Bi-Partisan Group Pushes JOBS Act

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Washington, D.C. – December 11, 2012 – Senators Jeff Merkley (D-OR) and Michael Bennet (D-CO) urged Chairman Mary Schapiro of the Securities Exchange Commission to request that rules governing crowdfunding activities be issued quickly. Merkley and Bennet were lead sponsors on the CROWDFUND Act, which was passed on April 5, 2012 and legalizes the raising of… Read More

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CFIRA Members Are Optimistic for Equity Crowdfunding in 2013

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Despite news that the chair of the SEC will step down next month, CFIRA members remain optimistic that the SEC will formulate rules to govern equity crowdfunding under the JOBS Act by the end of 2013. Board members of the Crowdfund Intermediary Regulatory Advocates (CFIRA) made the comments during a webinar sponsored today on BrightTalk entitled “What… Read More

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SoMoLend and GATE Global Impact Launch Strategic Lending Alliance

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CINCINNATI and NEW YORK —While it remains difficult to obtain financing from traditional means, small business borrowers can now reach out to friends, family and other high net-worth individuals to secure financing through a newly formed partnership between two of the country’s alternative lending companies. Today, SoMoLend (www.SoMoLend.com) and GATE Global Impact (www.GATEimpact.com) formalized a… Read More

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Trust Crowd Intelligence for Crowdfunding, CFIRA Urges FINRA

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  CFIRA, a leading crowdfund investing coalition, has urged the largest independent securities regulator known as FINRA to embrace  “crowd intelligence” as FINRA develops a self-regulatory scheme for equity crowdfunding.  The Jumpstart Our Business Startups Act, signed into law on April 5, 2012, authorizes small businesses to raise up to $ 1 million per year through… Read More

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Crowdfunding Could Help Save the American Economy

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Commentary By AnnMarie McIlwain, Founder and CEO, www.careerfuel.net and CFIRA member. Story originally posted on CFIRA’s blog. “Revolutions happen fast, but dawn slowly.” This is how Jon Gertner characterized the innovation and resulting leapfrogs in technology that came out of Bell Labs (the research and development arm of AT&T) during the last century. I believe that crowdfunding for equity… Read More

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Common Sense Is Key to Crowdfund Investing Rules

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A new report by the Milkin Institute suggests regulators pursue a “common-sense approach” to regulation that balances the risks of securities crowdfunding with concerns over excessive compliance. The Center for Financial Markets at the Milken Institute, in partnership with the Georgetown University Law Center, convened a roundtable discussion in July 2012 in Washington, D.C. Participants addressed key questions on the use,… Read More

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CFIRA Advocates 21 Day “Cool Off” Period for Crowdfund Investors

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New York City (August 23, 2012) – In a letter to the Securities and Exchange Commission today, the Crowdfund Intermediary Regulatory Advocates recommended that the SEC consider rules that would keep a crowdfund investor’s right to rescind a crowdfund investment be kept as close as possible to the 21 day “cool off” period as provided under current securities… Read More

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Six Steps You Must Take Now to Succeed at Crowdfunding

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Via CFIRA: By Ruth Hedges, Founder and CEO CrowdfundingRoadMap and FundingRoadMap and Board Member of the Crowdfund Intermediary Regulatory Advocates (CFRA).  In order to get you ready for your crowdfunding campaign we have put together a list of actions companies must take now to be prepared. Passage of the JOBS Act and the legalization of debt and equity based crowdfunding is… Read More

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