Politics, Legal & Regulation

March 31, 2014 @ 10:33 am By Charles Luzar  |  

A bill proposed in Hawaii’s House of Representatives aims to establish a pilot program for civic crowdfunding in the island state. HB 2631 was introduced on January 23rd of 2014 and its five sponsors include members from both sides of the aisle, continuing a trend… Read More

March 31, 2014 @ 8:00 am By Georgia Quinn  |  

Fresh from my trip across the pond, I can tell you I have seen the light. Crowdfunding can and is working and we (the United States) are behind the eight ball on this one. When describing the US regulatory regime to crowdfunding professionals in the… Read More

March 29, 2014 @ 5:51 pm By JD Alois  |  

Crowdfund Insider recently published the report put together by the European Commission regarding crowdfunding.  While there is plenty of information for anyone interested in crowdfunding the document below is the data on the respondents for the report.  So if you are curious as to how… Read More

March 28, 2014 @ 1:39 pm By JD Alois  |  

The North American Securities Administrators Association (NASAA) has called upon the Securities and Exchange Commission (SEC) to make substantial revisions to its Regulation A proposed rule.  The NASAA has requested these changes be made “to remove potential harms to issuers and investors, especially those of… Read More

March 28, 2014 @ 1:02 pm By JD Alois  |  

The Director, Division of Corporation Finance at the Securities and Exchange Commission, Keith Higgins, gave the keynote address at the Angel Capital Association Summit in Washington, DC today. Higgins, who has been in the thick of rulemaking with the JOBS Act and correspondingly all types of… Read More

March 27, 2014 @ 10:34 am By JD Alois  |  

The U.S. Chamber of Commerce is the world’s largest business organization representing the interests of more than 3 million businesses of all sizes, sectors, and regions. The organization’s members range from mom-and-pop shops and local chambers to large corporations.  The group is really global in… Read More

March 27, 2014 @ 9:55 am By JD Alois  |  

As part of the massive release from the European Commission today on their Roadmap to meet the long term financing needs of  European Union, the EC published a document on Frequently Asked Questions regarding crowdfunding. While some of the responses are basic, much of the… Read More

March 27, 2014 @ 9:22 am By JD Alois  |  

As part of an initiative launched last Fall, the European Commission has published the responses to a consultation on crowdfunding.  While the commenting period closed on December 31, 2013, the document was published on March 27, 2014 as was widely expected. The EC received a… Read More

March 25, 2014 @ 3:08 pm By JD Alois  |  

The Maryland General Assembly has passed legislation that will allow small businesses to raise debt capital from Maryland residents.  The new law minimizes risk to investors by restricting each individual’s investment to $100 and allows small businesses to raise up to $100,000 in any given year. By… Read More

March 24, 2014 @ 6:35 pm By JD Alois  |  

Comments on proposed rules regarding Title IV of the JOBS Act are due today pursuant to the deadline set by the SEC.  Traditionally public comments continue to be posted on proposed rule amendments after the deadline, it is understood the door for comments will be… Read More

March 24, 2014 @ 10:50 am By JD Alois  |  

On March 20, 2014, a total of six provincial regulators announced two main proposals for new Crowdfunding prospectus exemptions that would allow early stage companies such as start-ups and SMEs to raise up to $1.5 million of capital online through the issuance of securities. According… Read More

March 22, 2014 @ 1:03 pm By Charles Luzar  |  

In the Miami Herald it was recently revealed that a handful of Guantanamo detainees have generated a business plan for an agricultural venture in Yemen. Called “Yemen Milk & Honey Farms Ltd,” the proposal outlines a “self-sufficient agricultural business west of Yemen’s capital, Sana’a.” The 75… Read More

March 22, 2014 @ 12:33 pm By Charles Luzar  |  

It may not be taking place online, but a crowdfunding campaign is seeking cash to support the Ukranian Defense Ministry and, by proxy, the Ukranian Army. Donations are being taken in part via cell phone, and supporters are being encouraged to text “565.” The text… Read More

March 22, 2014 @ 10:32 am By Charles Luzar  |  

CrowdCheck has released the following comparative analysis of intrastate crowdfunding exemptions, providing a concise view of happenings in the various states that are currently considering crowdfunding exemptions. Michigan, North Carolina and Wisconsin are the only states to buck the $1 million annual cap on fundraising… Read More

March 21, 2014 @ 10:04 pm By JD Alois  |  

Canada had a big week.  In a co-ordinated release provinces across the country jointly announced comments on equity crowdfunding.  While the announcement came as no surprise to many Canadians, some of us further South found the simultaneous announcements a bit over-whelming.  Fortunately the NCFA of… Read More

March 21, 2014 @ 4:27 pm By JD Alois  |  

The tidal wave of states enacting legislation to create exemptions for equity crowdfunding continues as Indiana has just forwarded a bill to be signed into law to the desk of Governor Mike Pence. The Indiana Law could go into effect as early as July 1,… Read More

March 21, 2014 @ 11:00 am By JD Alois  |  

Co-founder of equity crowdfunding platform Crowdcube Luke Lang has commented on the UK budget announcement that occurred earlier this week.  While there were many positive aspects of Chancellor of the Exchequer George Osborne’s presentation Lang indicated here were some areas that could stand for improvement…. Read More

March 21, 2014 @ 10:15 am By JD Alois  |  

In a speech delivered today to the Consumer Federation of America, Securities and Exchange Commission Chair Mary Jo White addressed the needs of protecting the consumer in the securities markets. White mentions the recent appointment of Rick Fleming as the agency’s head in the new… Read More

March 21, 2014 @ 10:04 am By JD Alois  |  

The Equity Crowdfunding Alliance of Canada (ECFA Canada) was only recently formed by individuals and companies determined to see the benefits of equity crowdfunding improve the economy of Canada. These companies and individuals, including funding portals are united in the common purposes of promoting crowdfunding in… Read More

March 21, 2014 @ 9:45 am By JD Alois  |  

The Nova Scotia Securities Commission, in conjunction with other members of the  Canadian Securities Administrators, published for comment the Integrated Crowdfunding  Prospectus Exemption (the Crowdfunding Exemption) and the Start-Up Crowdfunding  Prospectus Exemption (the Start-Up Exemption). The proposed exemptions would allow both  reporting and non-reporting issuers… Read More