Tagged: jobs act

Perspective: Investors and Markets Could Benefit from Revising the Accredited Investor Definition

Accredited Investor Qualifcations featured

When Congress passed the JOBS Act lifting the ban on general solicitation in offerings under Rule 506 of Regulation D, it turned these so-called “private” offerings into potentially very public ones.  Since Reg D offerings involving general solicitation can only be sold to “accredited” investors, it also amplified the already central role that the accredited… Read More

Report: Only 1/3 of Executives at Smaller Middle-Market Companies Claim to be Familiar with Key Elements of JOBS Act

Jobs Act 2012 statement red

According to research commissioned by CohnReznick, an accounting and advisory firm targeting middle market companies, only one-third of executives at smaller middle-market companies claimed to be familiar with the key elements of the JOBS Act legislation that could benefit their organization. CohnReznick states; “The JOBS Act is a remarkable piece of legislation, but unless the smaller… Read More

Nine Senators Submit Letter to SEC Opposing State Blue Sky Preemption

Nine Senators Opposed to State Preemption Blue Sky Title IV JOBS Act

In the ongoing debate about various aspects of the JOBS Act that legalizes equity crowdfunding, nine US Senators have submitted a comment letter to the SEC opposing the move to preempt state “Blue Sky” review.  The pre-emption of state review under Title IV of the JOBS Act, also known as Regulation A+, has been recognized… Read More

George Osborne: “I want the UK to lead the world in developing Fin Tech”

Chancellor of the Exchequer George Osborne

The United Kingdom has focused great attention and energy on encouraging an economic environment of innovation and entrepreneurial growth.  While actions always speak louder than words from a US perspective, we sometimes look with envy at what is occurring the UK and not happening in the US.  Granted not all is rosy across the Atlantic… Read More

SEC Annual Forum on Small Business Capital Formation: Ground Hog Day for Small Biz?

Ground Hog Small Business Forum SEC

Many of us are wondering when, if and how the SEC will finally roll out final regulations to implement major provisions of the JOBS Act of 2012, including Title III (investment crowdfunding) and Title IV (Regulation A+). So too were a group of Congressmen, gathered in the Halls of Congress in Washington, D.C. on July… Read More

SEC Commissioner Daniel Gallagher Talks JOBS Act; Advocates Needs of Small Business

Daniel Gallagher Champion of Small Business

At a recent meeting of the Securities Reform Project, organized by David Burton of the Heritage Foundation, attendees had the unique opportunity to hear from SEC Commissioner Daniel Gallagher. Gallagher was appointed as Commissioner in 2011 but he is a longtime veteran of the SEC having joined the staff in 2006 as Counsel to then… Read More

Equity Crowdfunding is in Need of Leadership

State of the Union Congress and Senate

Your Leadership, Freedom & Independence this 4th July. Dear Mr President, Your leadership is needed in a matter which affects America and us all. A matter of removing an ongoing source of inequality which continues to disfigure both democracy and capitalism in America and worldwide. I believe it is in your gift to right an… Read More

SEC Releases Small Business Capital Formation Report

Small Business Capital Formation

Last fall – way back in November 2013 – the SEC held their annual gathering of minds to discuss the challenges of small business capital formation.  The meeting was mandated by law under the “Small Business Incentive Act of 1980″.  This was their 32nd forum where the leading minds at the SEC convene to review… Read More

American Homeowner Preservation Raises Over Half Its $1.2M Campaign Goal

American Homeowner Preservation AHP

American Homeowner Preservation is closing National Homeownership Month with the announcement that it has reached the halfway mark in crowdfunding its third pool of distressed mortgages, opportunity 2014A. Thus far, American Homeowner Preservation has raised $690,000 of the $1.2 million needed to complete the purchase of opportunity 2014A. American Homeowner Preservation uses equity crowdfunding to purchase… Read More

Gloves Come Off: Two Prominent Crowdfunding Industry Leaders File Opposing Lawsuits

Boxing Gloves Fight Box

In a tale of a partnership gone bad, Crowdnetic, a New York City based crowdfunding data firm founded by Luan Cox, recently filed a lawsuit in the United States District Court for the Southern District of New York, alleging a breach of a prior agreement by former partner Dara Albright. Soon after the original filing… Read More

Ballast IP Capital Announces Launch of Protecting Intellectual Property and Raising Capital Services

Ballast IP Capital Group

Ballast IP Capital Group, LLC (BIPC) will announce its launch at the Power of Crowdfunding Conference at the House of Sweden. Attorney Scott Popma, who is leaving the partnership at Finnegan, Henderson to start BIPC, is an intellectual property and crowdfunding JOBS Act expert. He founded this venture to help businesses protect their intellectual property… Read More

Fundrise: Poised to Alter Real Estate Finance Forever.

Fundrise Real Estate Investing for Everyone

Recently I was attending a real estate finance conference on crowdfunding and I was fortunate to hear Brandon Jenkins, the Fundrise Director of Product, speak about the future of real estate from the perspective of Fundrise.  His comments were coming off the exciting announcement that Fundrise had just raised $31 million (no idea on the… Read More

SEC Division Director Talks Enforcement at Compliance Week

sec

Andrew Ceresney, Director of the Division of Enforcement at the Securities and Exchange Commission, gave a speech today at Compliance Week in Washington, DC.  While there isn’t too much special in talking about enforcement because that’s exactly what the SEC spends quite a bit of time doing.  It was interesting to note that Ceresney touched on… Read More

Some States Are Sidestepping the JOBS Act’s Burdensome Crowdfunding Rules

US Map Crowdfunding Exmemptions

The new crowdfunding provisions in the “Jumpstart Our Business Startups Act of 2012” (which is often referred to as the “JOBS Act of 2012”) have received a lot of attention: Title III of the Act exempts certain crowdfundings from the registration requirements of the federal securities laws (the “Federal CF Exemption”), and the U. S…. Read More

CFIRA Tackles Investor Advisory Committee Recommendations on Crowdfunding

Barbara Roper Investor Advisory Committee

The Crowdfund Intermediary Regulatory Advocates (CFIRA) recently posted a comment letter on the SEC web site regarding JOBS Act implementation.  The comment letter was in direct response to the recommendations provided by the Investor Advisory Committee (IAC) who recently met – reviewing their requests for JOBS Act implementation.  CFIRA is a group of industry advocates… Read More

An Inside View of the Washington State Equity Crowdfunding Law

The_Washington_State_Capitol

The state of Washington recently passed its own intrastate equity crowdfunding law.  Washington is following a growing number of states that have recognized the benefits to streamlining the capital formation process for small businesses and startups – something the JOBS Act was supposed to achieve over two years ago. So what does the Washington State… Read More

Watch: Congressman McHenry Deliver Opening Statement on Crowdfunding Regulations

Patrick McHenry Delivers Statement

“The Current Statute Has Failed.” Congressman Patrick McHenry delivers his opening statement at the subcommittee hearing held last week where he introduced his draft legislation to restructure the JOBS Act, and crowdfunding, to fix the challenges intrinsic in the expected rules.  We previously posted the video of the entire hearing but for those of you… Read More

Read Testimony by Seedrs CEO Jeff Lynn on Equity Crowdfunding

Jeff Lynn CEO Seedrs

Embedded below is the prepared testimony provided by Seedrs CEO Jeff Lynn delivered to the House Subcommittee on Capital Markets and Government Sponsored Enterprises. Lynn effectively calls retail crowdfunding, as legislated in Title III of the JOBS Act, dead on arrival: He stated: I have come before you today because I believe, based on the extensive… Read More

Watch: House Subcommittee Hearing on Crowdfunding

Fundrise Benjamin

On May 1, 2014 the Subcommittee on Capital Markets and Government Sponsored Entreprises held a hearing entitled “Legislative Proposals to Enhance Capital Formation for Small and Emerging Growth Companies, Part II”.  The witness list included several well known participants from the crowdfunding industry including: Mr. Benjamin Miller, Co-Founder, Fundrise Ms. Annemarie Tierney, Executive Vice President… Read More