Politics, Legal & Regulation

February 14, 2014 @ 5:29 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has announced that Elizabeth Murphy has been named an associate director in its Division of Corporation Finance. For the past five years, Ms. Murphy has served as the Secretary of the Commission, heading the office that prepares, reviews, and… Read More

February 14, 2014 @ 11:34 am By Charles Luzar  |  

The Maine House of Representatives have approved an intrastate crowdfunding bill by a vote of 129-1. The bill now heads to the Senate for final approval. Rep. Ricky Long (R-Sherman) cast the only nay vote. We’ve reached out to the bill’s primary sponsor, State Senator Justin… Read More

February 14, 2014 @ 10:44 am By Charles Luzar  |  

Washington State has been on the march toward an intrastate crowdfunding exemption, and yesterday the effort took one more step toward becoming reality. House Bill 2023 was approved with an 89-9 vote. The nine nay votes all came via House Republicans. The bill itself was… Read More

February 13, 2014 @ 11:03 am By Charles Luzar  |  

According to reports, French President Francois Hollande came away from a recent visit to Silicon Valley bullish on equity crowdfunding – so bullish, in fact, that he is rumored to be considering an executive order in March that would allow startups and small businesses the… Read More

February 12, 2014 @ 9:05 pm By JD Alois  |  

Somolend, a high profile crowdfunding startup, has settled with the State of Ohio over allegations by the State the company had transgressed state securities laws.  The company was previously led by Candace Klein, who had become one of the leading champions for the fast growing… Read More

February 12, 2014 @ 8:13 pm By JD Alois  |  

Rick Fleming Currently at North American Securities Administration Association (NASAA) Slated to Become Investor Advocate this Month. The Securities and Exchange Commission (SEC) has appointed Rick A. Fleming to become the first head of the agency’s Office of the Investor Advocate.  As the Investor Advocate,… Read More

February 12, 2014 @ 2:41 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) today announced that David Fredrickson has been named associate director and chief counsel in the agency’s Division of Corporation Finance. He will assume his new position in March. Mr. Fredrickson has been assistant general counsel in the SEC’s Office… Read More

February 11, 2014 @ 9:17 am By Georgia Quinn  |  

While the commenting period officially ended this past week, letters with recommendations on Title III crowdfunding or Regulation CF continue to be posted on the SEC web site.  The letter from global law firm Seyfarth Shaw was posted yesterday   The approach is simple, limit it… Read More

February 10, 2014 @ 10:28 am By Charles Luzar  |  

The Portland Press Herald has reported that the Maine Senate has given preliminary approval to LD 1512, a bill that would implement an intrastate crowdfunding exemption in the State of Maine. The bill now heads to the House for a vote. If approved it would head back… Read More

February 9, 2014 @ 6:47 am By JD Alois  |  

Securities and Exchange Commission (SEC) Chair Mary Jo White testified before the Senate Banking, Housing & Urban Affairs Committee this past week.  In her prepared comments, entitled “Oversight of Financial Stability and Data Security“, she addressed a litany of challenges and initiatives presently being addressed… Read More

February 8, 2014 @ 12:48 pm By Charles Luzar  |  

The intrastate crowdfunding exemptions just keep coming. The latest state said to be considering an intrastate bill is Texas. Crowdfunding is part of Texas House Speaker Joe Strauss’s legislative agenda for this coming year. Various state news outlets report that just such a measure will… Read More

February 7, 2014 @ 10:24 am By David R. Burton  |  

The Securities and Exchange Commission (SEC) is considering substantial increases in the Regulation D thresholds for “accredited investor” income and net worth, which would reduce the pool of potential investors in small businesses and start-up companies by 60 percent to 70 percent. This will impede… Read More

February 7, 2014 @ 9:08 am By Charles Luzar  |  

Representative Sam Graves (R-Mo.) has submitted a comment letter on proposed rules for Title III crowdfunding. He is the Chairman of the House Committee on Small Business, the same committee that has seen various testimonies on the subject of crowdfunding and the alternative finance industry… Read More

February 5, 2014 @ 11:26 am By Charles Luzar  |  

The State of Washington has been weighing the possibility of implementing an intrastate crowdfunding exemption. The House Business & Financial Services Committee discussed the bill late in January, and we now have the video of that hearing. Representative Cyrus Habib (D-48th) has championed the effort…. Read More

February 4, 2014 @ 6:26 pm By JD Alois  |  

Congressman Patrick McHenry (R-NC), viewed as one of the leading legislative voices advocating the benefits of crowdfunding, was interviewed last week as part of the Crowdfund Global Expo held in San Diego January 30-31, 2014.  DJ Paul, Crowdfund Intermediary Regulatory Advocates (CFIRA) Chair and Andrea… Read More

February 3, 2014 @ 12:07 pm By JD Alois  |  

Posted on the European Crowdfunding Network (ECN), as part of a work package mandated by the European Commission, the ECN announced a call for submission for technology providers for an EU wide crowdfunding data platform. This request is part of an initiative by Startup Europe… Read More

February 3, 2014 @ 9:57 am By JD Alois  |  

Title III of the JOBS Act is the portion of the legislation which has become emblematic for the concept of “crowdfunding”.  This section of the act guides “retail” crowdfunding or the ability of non-accredited investors to participate in crowdfunded public offerings of up to $1… Read More

February 2, 2014 @ 11:00 am By Charles Luzar  |  

The Michigan House Republicans shared this image of Governor Rick Snyder ceremonially signing Public Act 264 for 2013 establishing equity crowdfunding in Michigan. For more coverage, look to our previous articles below… Rep. Jenkins Hopes Crowdfunding Bill Will Be “A Real Win-Win For Michigan” A… Read More

January 31, 2014 @ 3:32 am By Mary Juetten  |  

If you are an entrepreneur with an opinion on crowdfunding, please take note – Monday, February 3rd, 2014 is a very important day for you. Public comments on the proposed rules for securities crowdfunding under the Jumpstart Our Business Startups (JOBS) Act are due to… Read More

January 30, 2014 @ 8:00 am By Georgia Quinn  |  

Dos and Don’ts of General Solicitation and the Use of Social Media in Debt/Equity-Based Crowdfunding Online crowdfunding used to raise capital through the sale of debt and equity interests in companies has opened a new and much needed financing method for small and startup businesses…. Read More