Politics, Legal & Regulation

May 6, 2014 @ 1:09 pm By JD Alois  |  

Based on the fact that government has failed us, the MayDay PAC wants to “Kickstart” a Super Pac to fix our democracy.  Regardless of whether you sit on the right or the left – most people can agree that our government today is very broken…. Read More

May 6, 2014 @ 8:30 am By Joe Wallin  |  

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… Read More

May 5, 2014 @ 7:30 am By Samuel Guzik  |  

For those of you who were too busy to notice, U.S. Congressman Patrick McHenry introduced three draft bills into the House Financial Services Committee last week.  One of them, if it were to become law, would open up the U.S. equity crowdfunding world in ways… Read More

May 4, 2014 @ 4:47 pm By JD Alois  |  

“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… Read More

May 1, 2014 @ 11:08 am By JD Alois  |  

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… Read More

May 1, 2014 @ 9:57 am By JD Alois  |  

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…. Read More

May 1, 2014 @ 9:35 am By JD Alois  |  

Embedded below is the draft legislation submitted by Congressman Patrick McHenry to repeal Title III of the JOBS Act and fix what has been deemed a flawed bill.  Title III is the portion of the JOBS Act that deals with retail equity crowdfunding. In brief… Read More

April 30, 2014 @ 1:21 pm By JD Alois  |  

Below is the official copy of the memorandum outlining tomorrow’s subcommittee hearing on Capital Markets and Government Sponsored Enterprises Hearing Entitled: “Legislative Proposals to Enhance Capital Formation for Small and Emerging Growth Companies, Part II”. Congressman Patrick McHenry of North Carolina is proposing to scrub… Read More

April 30, 2014 @ 1:07 pm By JD Alois  |  

Congressman McHenry Proposes Striking Title III from the JOBS Act & Replacing it With More Effective Legislation. The House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises has scheduled a hearing for Thursday, May 1st and the list of witnesses include some well known names… Read More

April 30, 2014 @ 11:00 am By JD Alois  |  

Coming from the Internal Market and Services Directorate, the European Commission (EC) has announced an open application for participation in an “informal” expert group on crowdfunding.  The new group aligns with the recently released report on crowdfunding as the commission studies the evolution of this… Read More

April 29, 2014 @ 6:25 pm By JD Alois  |  

Securities and Exchange Commission Chair Mary Jo White travelled to Capital Hill today to visit the House Committee on Financial Services.  In prepared remarks Chair White reviewed what has been accomplished during her tenure and what expectations for 2014 she holds for the agency. The… Read More

April 29, 2014 @ 10:03 am By JD Alois  |  

Securities and Exchange Commission Chair Mary Jo White will testify before the House Financial Services Committee on Tuesday, April 29. The committee will hold an oversight hearing to examine the SEC’s rulemaking agenda, operations and $1.7 billion budget request. Committee members are also expected to… Read More

April 28, 2014 @ 8:00 am By Samuel S. Guzik, The Crowdfunding Counselor  |  

Since the 1930’s Regulation A has been unremarkable as a little known and little used “exemption” from the full SEC registration process – intended to allow smaller companies to access public markets through a streamlined SEC registration process – with “reviewed” financial statements and no… Read More

April 28, 2014 @ 7:30 am By JD Alois  |  

The Securities Board of the State of Texas has proposed rules on intrastate crowdfunding.  It is being reported the new legislation will go into effect this coming August.  As with other state investment crowdfunding laws, the intent is to facilitate capital to small businesses and… Read More

April 28, 2014 @ 7:01 am By JD Alois  |  

The House Financial Services Committee, Chaired by Congressman Jeb Hensarling, is set to get an update from Securities and Exchange Commission Chair Mary Jo White this week regarding multiple issues at the SEC.  Scheduled for  this coming Tuesday, April 29th at 10AM, White will be… Read More

April 27, 2014 @ 3:39 pm By JD Alois  |  

As part of a scheduled series of cross country events designed to spread the gospel of crowdfunding, the Equity Crowdfunding Alliance of Canada (ECFA Canada) hosted their inaugural conference in the financial district of Toronto to a packed crowd.  Tickets quickly sold out for the… Read More

April 24, 2014 @ 11:04 am By Samantha Hurst  |  

Weighing in on crowdfunding pros and cons, U.S. Representative David Schweikert warned a group of entrepreneurs that established companies and their lobbyists will fight to keep startup innovations from causing a stir in their markets During a visit to Phoenix-based incubator, Seed Spot, Mr. Schweikert stated,… Read More

April 22, 2014 @ 5:36 pm By JD Alois  |  

A proposal to allow crowdfunding in Denmark has been delivered to the Danish Parliament hoping to recognized the new form of capital formation.  The resolution was sponsored by multiple politicians including; Jakob Engel -Schmidt , Kim Andersen, Hans Kristian Skibby , Joachim B. Olsen and Mike… Read More

April 18, 2014 @ 10:06 am By JD Alois  |  

  It was only this past March that Florida announced investment crowdfunding legislation to help foster economic growth in the state.  The bi-partisan bill, sponsored by State Representative Bryan Nelson (R-31) and State Senator Jeff Clemens (D-27), appeared set to join the growing wave of… Read More

April 15, 2014 @ 12:37 pm By JD Alois  |  

In a speech delivered today, entitled “The Future of Capital Formation“, Craig M. Lewis, Chief Economist and Director of Economic and Risk Analysis at the SEC, addresses the JOBS Act and specifically the various exemptions that allow investment crowdfunding.  Specifically Title II – with general… Read More