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 and General Counsel, SecondMarket
- Mr. William Beatty, Director of Securities, Securities Division, Washington State Department of Financial Institutions
- Mr. Jeff Lynn, Chief Executive Officer, Seedrs Limited
A portion of this hearing surrounded the introduction of draft legislation to remove Title III retail crowdfunding from the JOBS Act and replace it with more effective legislation.