Politics, Legal & Regulation

March 20, 2013 @ 5:16 pm By ITBusiness  |  

The debate over allowing equity-based crowdfunding is heating up in Canada’s largest province as the Ontario Securities Commission (OSC) is collecting letters from different groups either advocating for change or warning against it. This week, a group protecting investor rights weighed in on the issue… Read More

March 20, 2013 @ 4:26 pm By JD Alois  |  

The SEC released today a presentation regarding financial reporting issues for smaller issuers.  A portion of this document reflected upon the changes regarding the Jobs Act and crowdfunding.  This is reflective of the challenges the SEC is facing in their regulatory struggle regarding this disruptive… Read More

March 20, 2013 @ 2:08 am By CFO  |  

When President Obama signed the Jumpstart Our Business Startups Act on April 5, 2012, he called it a “game-changing” bill. The game needed changing. After the Great Recession, access to capital became a huge problem for small business, as the percentage of loans under $1… Read More

March 18, 2013 @ 2:14 pm By JD Alois  |  

The Canadian Foundation for Advancement of Investor Rights (FAIR) has submitted comments to the OSC on its exempt market review, opposing the proposed equity crowdfunding exemption and offering memorandum exemption concepts. Crowdfunding and the OM exemption will undermine investor protection, make markets less efficient, undermine investor… Read More

March 15, 2013 @ 4:41 pm By JD Alois  |  

In stark contrast to the Senatorial theatrics associated with the confirmation of Defense Secretary Chuck Hagel, incoming SEC Chairman Mary Jo White has experienced a different process which was  more routine.  The confirmation hearing was held this past week on March 12th and was notable… Read More

March 15, 2013 @ 5:58 am By JD Alois  |  

In comments filed with the Ontario Securities Commission (OSC), Interactive Ontario (IO) has urged the OSC to quickly approve proposed prospectus exemptions for crowdfunding capital. IO supports these exemptions as a means to increasing the available pool of capital for Ontario digital media companies.  IO… Read More

March 8, 2013 @ 9:22 am By Charles Luzar  |  

The Hill reported yesterday that House Republicans have sent a letter to SEC Chairman Elisse Walter regarding the SEC’s recent allocation of resources. From the article… In a letter sent Tuesday to SEC Chairman Elisse Walter and obtained by The Hill, the quartet of lawmakers… Read More

March 7, 2013 @ 9:12 pm By Belfast Telegraph  |  

Another day another venture capital deal, would be a great phrase to be repeating on these pages but sadly, there’s not much call for it at present. However, there are a few more deals like the one to the left appearing and with the enthusiasm… Read More

March 7, 2013 @ 8:50 pm By JD Alois  |  

International legal power house BakerHostetler released an executive alert today regarding the Jobs Act and the various components of the legislation including crowdfunding.  The release commented on: 1. Rule 506(c) and Broker-Dealer Registration Exemption a. The Old Rule 506 and Intermediaries b. The New Rule… Read More

March 6, 2013 @ 8:23 am By JD Alois  |  

During a news conference at the National Press Club, the North American Securities Administrators Association (NASAA) President and Arkansas Securities Commissioner Heath Abshure and Steve Irwin, NASAA President-elect and Pennsylvania Banking and Securities Commissioner, also outlined five specific areas in which they will seek Congressional… Read More

March 5, 2013 @ 1:53 pm By Fortune  |  

Rattner argues crowdfunding advocates might be better off playing the lottery. Steve Rattner has angered a crowd. In a New York Times column Monday, Rattner, a contributor to the Times‘ Opinion Pages, took a swing at the JOBS Act, particularly the portion relating to crowdfunding…. Read More

March 4, 2013 @ 8:09 am By JD Alois  |  

In an opinion piece on the pages of NYTimes, journalist / banker and former Obama Administration “Car Czar” attacks legislation promoted by his former boss:  The Jobs Act of 2012.  Titled a “Sneaky Way to Deregulation, Ratner goes directly after one of the most significant… Read More

February 27, 2013 @ 6:35 am By JD Alois  |  

SEC Chairman Elisse Walter states crowdfunding coming soon in a speech titled  Making the Markets Safe for Informed Risk-Taking.   As part of the SEC Speaks series of presentations the comment was just a portion of the speech which you may view in its entirety here. Companies… Read More

February 24, 2013 @ 12:16 pm By InvestmentNews  |  

About a dozen crowdfunding and venture capital representatives and small-business advocates last Tuesday urged Securities and Exchange Commission Chairman Elisse Walter to propose rules for crowdfunding.  A type of financing that lets small investors buy equity or debt in startups over the Internet, crowd funding… Read More

February 22, 2013 @ 10:02 pm By JD Alois  |  

Below is a speech presented by Neelie Kroes Vice-President of the EuropeanCommission responsible for the Digital Agenda EU & US for Growth, Investment Crowdfunding and Support This is a difficult time for Europe. As growth stays low, uncertainty is everywhere. Our people, particularly younger people, face horrific… Read More

February 22, 2013 @ 6:35 pm By WSJ.com  |  

The Securities and Exchange Commission is working to propose rules “as soon as possible” on crowdfunding that would allow small companies to raise up to $1 million in funds from investors over the Internet, but the rules will likely include new types of investor limits… Read More

February 20, 2013 @ 3:59 pm By Charles Luzar  |  

According to sources in the crowdfunding industry who were present for yesterday’s meetings in Washington, there is reason for cautious optimism in regards to Title III implementation. The message from the industry was clear; We’ve examined the problem domain and we’re ready to go, but… Read More

February 20, 2013 @ 8:35 am By Mark Schoeff Jr  |  

About a dozen crowd funding and venture capital representatives and small-business advocates on Tuesday urged Securities and Exchange Commission Chairman Elisse Walter to propose rules for crowd funding. A type of financing that lets small investors buy equity or debt in startups over the Internet,… Read More

February 19, 2013 @ 11:25 am By Charles Luzar  |  

After today’s press conference at the National Press Club one thing is clear. Crowdfunding industry stakeholders want movement toward implementation of the JOBS Act and they want it soon. SoMoLend CEO Candace Klein spoke to a concern that tumult in the SEC’s leadership could delay… Read More

February 13, 2013 @ 7:17 pm By InnovationTrail  |  

Startup businesses in upstate New York, a region that sometimes struggles to attract big investors, are anxiously awaiting permission to begin soliciting funding from a new type of investor. The Jumpstart our Business Start-up – or JOBS – Act, passed last year by Congress, allows… Read More