Politics, Legal & Regulation

December 18, 2013 @ 1:30 pm By Kim Wales  |  

Compilation vs. Review vs. Audit for offerings of more than $500,000? Efforts to influence the final proposed rule for Financial Disclosure (Section 4A(b)(1)(D)), requires “a description of the financial condition of the issuer,” in which regulators have requested comments from the public for the Final… Read More

December 18, 2013 @ 1:02 pm By JD Alois  |  

The below remarks are from a meeting which was held earlier today (December 18, 2013) at the SEC regarding proposed changes to Regulation A – which were approved today.  SEC Chair Mary Jo White who opened the meeting presented this prepared statement which is posted… Read More

December 18, 2013 @ 12:18 pm By Georgia Quinn  |  

Today the SEC proposed the new affectionately named Regulation A+ as mandated by Title IV of the JOBS Act. The proposal lays out the framework which includes two tiers of offerings exempt from the full blown registration requirements of the 1933 Securities Act. All Regulation… Read More

December 18, 2013 @ 11:43 am By JD Alois  |  

As the consultation period on crowdfunding regulations comes to a close, a debate was held today at Westminster where MPs promised it would not allow FCA regulations to stifle growth of the burgeoning crowdfunding industry.  Various MP’s spoke in support of the innovative industry which… Read More

December 17, 2013 @ 8:36 pm By JD Alois  |  

Debate Takes Place as Consultation Period Nears End. Members of Parliament (MPs) will be debating the future of crowdfunding at Westminster tomorrow,  Wednesday, December 18, 2013.  The Westminster Hall Debate has been initiated by Barry Sheerman MP, a leading proponent of crowdfunding. Mr Sheerman, chair of… Read More

December 17, 2013 @ 3:00 am By Barry James, The Social Foundation  |  

Green Light the new freedoms of the digital age. The idea of a man having to walk in front of each car on the road waving a red flag to ensure that they didn’t scare the horses has often been the object of a mixture… Read More

December 14, 2013 @ 12:54 pm By Charles Luzar  |  

Michigan entrepreneurs and crowdfunding advocates are celebrating momentous news out of the state yesterday. The Michigan intrastate crowdfunding bill championed by State Representative Nancy Jenkins had been unanimously approved in the Senate. It is now headed back to the House for final approval before it… Read More

December 13, 2013 @ 11:04 am By JD Alois  |  

As of last week, equity crowdfunding is legal in the Canadian province of Saskatchewan.  The Financial and Consumer Affairs Athority (FCAA) is now allowing small businesses and startups to offer equity to residents via the Saskatchewan Equity Crowdfunding Exemption (SECE). The FCAA justified their decision… Read More

December 11, 2013 @ 12:40 pm By JD Alois  |  

Recorded video is posted below. As previously reported on Crowdfund Insider the Business Law Section and the International Section of  the New York State Bar Association (NYSBA) is hosting a live program and webcast in New York City on December 11, 2013, to review crowdfunding. The… Read More

December 11, 2013 @ 11:48 am By JD Alois  |  

With the Financial Conduct Authority (FCA) consultation period scheduled to end shortly, CrowdConsent is announcing a simple technology solution to address current proposals to regulate both equity and debt based crowdfunding. The CrowdConsent service allows platforms to demonstrate that they have obtained the informed consent… Read More

December 10, 2013 @ 12:04 pm By JD Alois  |  

In two public letters the UK based Social Foundation and the Crowdfunding Centre openly pose the question, “Is the Government Guilty of Financial Discrimination?” Both letters, reproduced in their entirety below, question  the Financial Conduct Authority’s (FCA) “rush to regulate” the quickly growing crowdfunding industry…. Read More

December 9, 2013 @ 4:50 pm By JD Alois  |  

Gomez Played Key Role in Drafting JOBs Act Rules. The Securities and Exchange Commission (SEC) has announced that effective immediately Sebastian Gomez Abero has been appointed chief of the Office of Small Business Policy, Division of Corporation Finance.  T Mr. Gomez previously was a special… Read More

December 9, 2013 @ 4:08 pm By JD Alois  |  

The highly influential American Bar Association (ABA) has posted a comment letter on the Securities and Exchange Commission site sharing their opinion on proposed changes to Regulation D, Form D and Rule 156.  The 52 page letter is signed by Catherine T. Dixon, Chair of… Read More

December 7, 2013 @ 1:08 pm By Charles Luzar  |  

On Thursday, December 5th 2013, Lending Club Founder and CEO Renaud Laplanche provided the following testimony to the House Committee on Small Business, and specifically the Subcommittee on Economic Growth, Taxes and Capital Access. A survey released by the Federal Reserve Bank of New York… Read More

December 6, 2013 @ 5:08 pm By JD Alois  |  

The Business Law Section and the International Section of  the New York State Bar Association (NYSBA) is hosting a live program and webcast in New York City on December 11, 2013, to review crowdfunding.  The event is titled, “The SEC’s Crowdfunding Proposal – A Preliminary… Read More

December 5, 2013 @ 9:50 am By JD Alois  |  

The Small Business Administration, Office of  Advocacy, has scheduled a roundtable discussion of crowdfunding for Wednesday, January 15, 2014 from 10:00 a.m. – 12:00 noon.  A call in option is expected to be available as well. The Small Business Roundtable on Crowdfunding will be held at the U.S. Small… Read More

December 5, 2013 @ 8:48 am By JD Alois  |  

Objective is to Modernize Exempt Market Regulations, Facilitate Capital Raising for Startups. The Ontario Securities Commission (OSC) has announced they intend on publishing in the  first quarter of 2014 the following new capital raising prospectus exemptions for a 90-day public comment period: Offering memorandum exemption,… Read More

December 4, 2013 @ 8:52 am By JD Alois  |  

The Financial Conduct Authority (FCA), the United Kingdom’s regulatory entity which has oversight over the booming crowdfunding industry, released a consultation paper (CP) this past October reviewing the new, innovative industry.  The CP is one of a series of consultation papers that will determine their… Read More

December 3, 2013 @ 2:57 pm By JD Alois  |  

In multiple reports, Chancellor George Osborne is said to allow tax free returned from peer-to-peer lending platforms like Zopa, Funding Circle, LendInvest and others.  Savers have been able to increase their rate of return by participating in these platforms thus cutting out traditional banks in… Read More

November 27, 2013 @ 12:06 pm By JD Alois  |  

The European Commission DG Internal Market and Services is currently running a survey on crowdfunding.  The questionnaire poses questions about all forms of crowdfunding including: rewards, donations, debt, equity and royalty based iterations.  While the survey is not yet completed they have been releasing some… Read More