April 25, 2013 @ 6:27 pm By CFI Correspondent  |  

BancBox, a leading payment services provider, announces today the public launch of BancBox Crowd, the first independent escrow service for equity, debt and revenue share crowdfunding portals. Additionally, the company is announcing partnerships with leading crowdfund investing services 99Funding, SoMoLend, and Localstake. “The services provided by BancBox crowd have been instrumental in developing a seamless investment… Read More

Read more in: General News, Strategy  |  Tagged bancbox, compliance, finra, sec, tactics

February 19, 2013 @ 11:25 am By Charles Luzar  |  

After today’s press conference at the National Press Club one thing is clear. Crowdfunding industry stakeholders want movement toward implementation of the JOBS Act and they want it soon. SoMoLend CEO Candace Klein spoke to a concern that tumult in the SEC’s leadership could delay crowdfunding’s implementation past Q4 2013. Vincent Molinari of GATE Technologies… Read More

Read more in: General News, Politics  |  Tagged candace klein, doug ellenoff, finra, kim wales, sara hanks, sec, sherwood neiss, vince molinari

February 9, 2013 @ 9:25 am By WSJ.com  |  

Small U.S. investors can donate money to a startup on a crowdfunding site such as Kickstarter, but they won’t get a stake in the company in exchange. Despite changes in federal law, Americans can’t yet legally put money into a startup in an “equity crowdfunding,” an investment method that is open to ”accredited investors” only. The Jumpstart Our Business… Read More

Read more in: Politics  |  Tagged elisse walters, finra, jobs act, reg d, sec, wealthforge

January 31, 2013 @ 2:13 pm By Charles Luzar  |  

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

Read more in: General News  |  Tagged cfira, cfpa, debt, dj paul, equity, finra, jobs act, kim wales, lending, sec

January 23, 2013 @ 4:13 am By CFI Correspondent  |  

Coming from the pages of Mondaq: SEC Approves FINRA Rule Change to Adopt Interim Form for Funding Portals under the Crowdfunding Provisions of the JOBS Act FINRA filed with the SEC a proposed rule change to adopt the Interim Form for Funding Portals (“IFFP”). The IFFP is an online form for prospective intermediaries that intend… Read More

Read more in: Politics  |  Tagged finra, jobs act, sec

January 11, 2013 @ 10:32 am By Howard Orloff, IPO Village  |  

After reflecting on the event at Crowdfund Texas, I have come to the firm belief that the upcoming IPO(s) from IPO Village will encourage movement on the rules that will ultimately  govern equity crowdfunding. Equity Crowdfunding will bring about a new asset class that will have its own rules and regs from both the SEC… Read More

Read more in: General News  |  Tagged dpo, finra, howard orloff, ipo village, ipovillage, jobs act, sec

January 11, 2013 @ 1:23 am By Charles Luzar  |  

This article is part one in a series on entrepreneurship and access to capital with a focus on the state of Texas. I recently talked to Richard Seline, Principal of Global NextGen Advisors, who just spoke at the Crowdfund Texas conference. He also offers support to the entrepreneurial community through his organization, Competitive Texas. I… Read More

Read more in: Featured Headlines, General News  |  Tagged crowdfund texas, crowdfundtx, debt, equity, finra, Green Energy, mhealth, richard seline, sec, texas

January 10, 2013 @ 2:56 pm By CFI Correspondent  |  

WASHINGTON– The Financial Industry Regulatory Authority (FINRA) today issued a voluntary Interim Form for Funding Portals designed for prospective crowdfunding portals under the JOBS Act. Those intending to become a funding portal may voluntarily submit information regarding their business on the interim form. The information received will help FINRA develop rules specific to crowdfunding portals…. Read More

Read more in: Featured Headlines, Politics  |  Tagged finra

December 14, 2012 @ 11:02 pm By JD Alois  |  

As posted on the FINRA web site on December 7th following the scheduled meeting of the FINRA Board of Governors, Richard Ketchum issued a summary of the rule proposals as approved by the board.  One of the proposals specifically addressed crowdfunding. Included amongst several other items from their agenda was another step in the process of… Read More

Read more in: Politics  |  Tagged finra, richard ketchum, sec

December 14, 2012 @ 10:50 pm By St. Louis Business Journal  |  

Last week I pointed out that despite all of the hype around crowd funding for startups, it’s still illegal to crowdfund in exchange for equity. Well, it still is, but there has been a small development in the saga of the JOBS Act since then. In a conversation with Candace Klein, founder of debt-based crowdfunding company SoMoLend and one of… Read More

Read more in: General News, Politics  |  Tagged finra, jobs act, sec, somolend

December 14, 2012 @ 9:07 pm By JD Alois  |  

Consumers Lose Millions to Scammers and Ponzi Schemes; New Effort Combines Education, Local Outreach WASHINGTON — Better Business Bureau and the FINRA Investor Education Foundation today launched a new consumer website, BBB Smart Investing, which is designed to help investors make smarter investing decisions while avoiding fraud, risky investments and unlicensed brokers. The campaign combines the… Read More

Read more in: Politics  |  Tagged bbb, finra, scams

December 5, 2012 @ 3:37 pm By Charles Luzar  |  

Washington, D.C., Dec. 5, 2012 — The Securities and Exchange Commission today announced that Robert W. Cook, Director of the SEC’s Division of Trading and Markets, plans to leave the agency. Since joining the SEC in January 2010, Mr. Cook has led the Division’s broad regulatory policy program that includes oversight of securities exchanges and markets,… Read More

Read more in: Politics  |  Tagged dodd frank, finra, jobs act, mary schapiro, robert cook, sec

December 4, 2012 @ 1:33 pm By Charles Luzar  |  

ConfidentCrowd Launches Accredited Investor Access for Broker-Dealer Members In Accordance with Title II of JOBS Act PHOENIX–(BUSINESS WIRE)– Dinan & Company today announced that its unique crowdfunding platform ConfidentCrowd will offer small and mid-sized businesses the opportunity to participate in much larger equity-based financings than available under the Title III crowdfunding provision of the JOBS Act. ConfidentCrowd’s… Read More

Read more in: Crowdfunding Portals  |  Tagged accredited, broker-dealer, confidentcrowd, dinan & company, finra, jobs act, mike dinan

November 29, 2012 @ 3:57 pm By JD Alois  |  

This items was posted in an article on AdvisorOne which reviewed the amendments and proposals FINRA is scheduled to review during their upcoming December meeting; Other items on FINRA’s list includes a proposal to seek “essential information” from crowdfunding portals that want to apply for membership with FINRA under the Jumpstart Our Business Startups (JOBS)… Read More

Read more in: General News, Politics  |  Tagged finra, sec

November 20, 2012 @ 4:50 pm By Charles Luzar  |  

The 2012 Forum on Small Business Capital Formation is in the books. Industry leaders met with representatives from the SEC in an effort to build consensus on regulatory recommendations for crowdfunding’s implementation in the US. Although the movement has come a long way, there is still a lot of work to do.  It is becoming… Read More

Read more in: Featured Headlines, Politics  |  Tagged bad actors, capital formation, finra, jobs act, regulation, sec, small business, washington dc