Tagged: regulations

Italy Updates & Improves Equity Crowdfunding Rules

The Coliseum Italy

  The equity crowdfunding market has been slow to take off in Italy largely due to intrinsic limitations with the environment and regulations. But Italy is pivoting once again and adapting to the new world of capital formation. Just 18 months after having enacted (first in the world) retail equity crowdfunding regulations, in reviewing existing rules, Italy… Read More

Virginia Crowdfunding Exemption Will Be Voted on in House Next Week

Virginia Map

Potential rules guiding investment crowdfunding will go to the full House for a vote in Virginia next week.  The legislation has been released by the Commerce and Labor Committee and will now take the next step towards becoming law.  The bill was sponsored by Del. Scott Taylor of Virginia Beach.  Taylor was quoted in the… Read More

Colorado Drafts New Intrastate Crowdfunding Regulations

Colorado

It appears that Colorado wants to improve capital formation for small companies as well.  The Centennial state is preparing to introducing legislation that will facilitate crowdfunding by authorizing on-line intermediaries to match Colorado investors with a Colorado based business that wishes to sell securities to raise funds in a “simplified regulatory regime”. While there are… Read More

Will the FCA Clamp Down on Peer to Peer Lenders?

Peer2PeerLendingUK

Recently the Financial Conduct Authority (FC) has been reviewing promotional practices of peer to peer lenders in the UK. This event was shared in a recent report from the FT which posed the question will the FCA clamp down on advertising practices utilized by P2P lenders in the UK. Chair of the P2PFA, Christine Farnish, was… Read More

Oliver Gajda, Co-Founder & Executive Board Chairman of the European Crowdfunding Network, Creates Transparency and Accountability in EU Crowdfunding Market

Oliver Gajda Featured Quote

As many Crowdfund Insiders know, when The University of Cambridge teamed up with EY and launched the European Alternative Finance Benchmarking Survey, the largest study to date on crowdfunding, peer-to-peer lending and other forms of alternative finance in Europe was initiated. This benchmarking survey, which closed on 6 January 2015,  seeks to capture the size, transactional volume and growth of the alternative finance markets across… Read More

Raizers Targets Ambitious Pan-European Equity Crowdfunding

Raizers Featured

  The 28 countries of the European Union are a very long way from offering a homogeneous regulation environment for crowdfunding. This is particularly true of equity crowdfunding which touches on multiple heavily regulated areas of finance such as investment advice, securities trading, retail banking and corporate finance. Few European countries have, like France, issued… Read More

Massachusetts Crowdfunding Exemption Called “A Breath of Fresh Air”

Boston Massachusetts

Crowdfund Insider reported yesterday that Massachusetts, a state known for its leery stance to investment crowdfunding, released “emergency regulations” thus becoming the next state to have legalized crowdfunding in lieu of federal rules.  We now have a copy of the actual exemption (embedded below) to compare and contrast with other intrastate laws.  The new regulations were… Read More

NASAA Champions Electronic Filing Depository System as Solution to Blue Sky Challenge

The Battle of Blue Sky Review

In late December of last year, the North American Securities Administrators Association (NASAA) launched, what it refers to, as its Electronic Filing Depository (EFD) system. The EFD system is designed to allow users to submit certain required “blue sky” notice filings in connection with exempt securities offerings to multiple states at once. Now if that… Read More

Massachusetts Securities Division Adopts Crowdfunding Exemption

Ben Franklin

In a report from a local Media General TV station, Secretary of the Commonwealth William F. Galvin was quoted stating that Massachusetts has “adopted a crowdfunding exemption”.  While regulations were not readily available a Crowdfunding tips document was posted on the Secretary’s web site (embedded below).  Galvin has been a known sceptic of the new… Read More

Minnesota Legislature Moves Forward with Crowdfunding Bill

Minnesota Legislators Supporting Crowdfunding

The state of Minnesota is next on the list of states determined to take matters into their own hands as Federal regulations continue to be mired in parochial politics and timid rulemaking. A crowdfunding bill was introduced into the legislative process today in St. Paul. The potential law was driven by an advocacy group formed… Read More

Growth Capital Summit 2014 Highlights (Video)

Sam Guzik National Press Club B

GrowthCapitalist, part of the MarketNexus Media group, organized a small gathering just prior to the SEC Small Business Capital Formation event in Washington, D.C. last November.  The event was held at the National Press Club and several well known names from the investment crowdfunding world spoke at the event.  Two of Crowdfund Insider‘s Senior Contributors… Read More

Paul Niederer on Crowdfunding Regulations: Regulators & Legislators Often Have No Expertise in Small Business & Startup Ecosystem

Paul Niederer Shares His Crowdfunding Wisdom

Paul Niederer, founder of the Australian Small Scale Offerings Board (ASSOB) and crowdfunding protagonist, has tackled the global regulatory regimes around the world as they attempt to create rules for the new forms of finance. Niederer criticizes most approaches stating: “The [regulatory] implementation balance to date tends to favour investor protection which is not unusual… Read More

Every Time a Bell Rings, an Angel [Investor] Gets its Wings: The SEC meets It’s a Wonderful Life

Seasons Greetings SEC Wonderful Life

With reports that the final rule-making dates for Titles III and IV of the JOBS Act have been pushed back once again (potentially as late as October 2015), it’s as if the Securities and Exchange Commission (SEC) dropped a giant piece of coal in our collective holiday stocking. But let’s not lose our holiday spirit… Read More

Australian MP Talks Importance of Crowdfunding

Paul Fletcher

Australian Member of Parliament and Secretary to the Minister for Communications Paul Fletcher published an interesting missive earlier this month on the importance of crowdfunding and why politicians should care.  Published in the Journal of Banking and Finance Law and Practice the statement is clear in his support of the new form of finance. Outside… Read More

SEC Submits Changes to Exchange Act Registration Requirements Moving Forward on Title V & Title VI of JOBS Act

SEC Securities and Exchange Commission Green

As part of the JOBS Act, the SEC has proposed amendments that addresses Title V and Title VI of the Act.  The revised rules relate to the thresholds for registration, termination of registration, and suspension of reporting under Section 12(g) of the Exchange Act. The SEC will seek public comment on the proposed rule amendments for 60… Read More

European Crowdfunding Network Reviews Global Crowdfunding Regulations

Oliver Gajda ECN Paris

The European Crowdfunding Network (ECN), an advocacy group based in Brussels, has published their annual report reviewing crowdfunding regulations in Europe, the United States, Israel and Canada. “Since we have started our work in 2012 and especially since our first edition of this paper in 2013, the discussion around crowdfunding has resulted in detailed regulatory… Read More

Commissioner Gallagher: “I still do not believe that we need to be spending our time ‘protecting’ millionaires”

Daniel Gallagher at SEC Small Business Advisory Committee

Earlier today at the offices of the SEC the Advisory Committee on Small & Emerging Companies held their first meeting in quite some time.  The appointed pro-bono group is convened at the invitation of SEC Chair Mary Jo White. This diverse gathering of professionals is tasked to advise the Commission on the very important issues… Read More

2015: The Ascendency of Small Business & the Middle Class in Washington, DC

Reason to Be Hopeful 2015 Washington DC

As 2014 comes to a close, this is the time of year when all good journalists look back at the year’s events, and then look forward – typically with a list of bold predictions for the year ahead.  For those of you focused on small business capital formation in our Nation’s Capital, the former task… Read More

Staying Compliant with 506c Private Placements (Infographic)

Police Safety Emergency Risk Enforcement

Title II of the JOBS Act allowed companies raising capital using private placements to advertise the investment opportunity.  Think about it.  If you were trying to sell your house but were not allowed to advertise it would be pretty hard.  Well “general solicitation” as it is known, has been legalized in the United States for… Read More

Financement Participatif France Submits Proposed Changes for Crowdfunding Rules

Arc de Triomphe by Benjamin Stäudinger Paris France

Regulations guiding crowdfunding have barely been in force in France but the representative group Financement Participatif France (FPF) has already submitted proposed changes to the French government in their push to improve the environment for crowdfunding for the country.  Final rules were released just this past October.  While broadly lauded for the speed of implementation… Read More