Tagged: kim wales

CFIRA Voices Support for the Fix Crowdfunding Act

The Fix Crowdfunding Act (HR 4855) passed the House Financial Services Committee earlier this month with solid bipartisan support. The bill was laser focused on addressing intrinsic shortcomings in Title III of the JOBS Act. While the bill was approved the final text saw several… Read More

The Renaissance of the Retail Investor: Fixing America’s Wealth Disparity

This is important.  In the United States, the wealth disparity is growing – not closing. While there are multiple reasons why this wealth gap has occurred, the growing dominance of big money over smaller investors has clearly exacerbated this societal challenge.  Unfortunately, policy officials have… Read More

CFIRA Reminds SEC the Time is Now to Update Definition of an Accredited Investor

There is a mandate under Dodd-Frank to review the definition of an “Accredited Investor” on a rolling basis.  As it stands today, Accredited Investors are individuals with incomes over $200,000 per year or $1 million in assets beyond a person’s primary residence. If you are… Read More

State of Washington Addresses Reg A+, Tier 2 Filing Rules

In a somewhat controversial regulatory approach, the state of Washington, Department of Financial Institutions, has indicated its interest in requiring issuers to file with the state when utilizing Tier 2 of Regulation A+.  The new exemption which preempts State Blue-Sky law and raises the investor… Read More

US Equity Crowdfunding Explained: Title II & Title IV of the JOBS Act (Deck)

The two leading equity crowdfunding associations, CFIRA and CFPA, came together to present a primer on the two active exemptions under the JOBS Act: Title II and Title IV. Title II, or accredited crowdfunding, has been actionable since the fall of 2013.  Title IV or… Read More

SME Bonds Launched by Founding Director & Chairman of ASSOB

Anthony Puls, the Founding Director & Chairman of ASSOB – one of the trailblazers of the investment crowdfunding space, has launched a new web site touting SME Bonds. The financial vehicle is said to be already available in Australia and New Zealand and targets startups and early… Read More

All in: CFIRA Applauds SEC Commissioners Approval of Reg A+

The U.S. Securities and Exchange Commission (SEC) unanimously adopted final rules on Wednesday to expand Regulation A, an existing securities registration exemption, under Title IV of the JOBS Act, often referred to as “Regulation A+.” The expansion of Regulation A will expand capital markets for small public securities… Read More

Final Rules for Title IV of the JOBS Act to Include State Pre-emption But for Tier 2 Only

The Securities and Exchange Commission met today to finalize rules for Title IV of the JOBS Act, commonly referred to as Regulation A+.  As expected the Commission quickly approved rules that included state Blue Sky pre-emption but for only Tier 2 of Title IV.  The… Read More

Perspective: SEC Small Business Forum on Capital Formation Recap

The 2014 Securities and Exchange Commission Government-Business Forum on Small Business Capital Formation ensued on November 20, 2014 at the SEC headquarters in Washington, D.C. In usual form, since the signing of the Jumpstart Our Business Startups Act (JOBS Act), the crowd (attorney’s, issuers, intermediaries, regulators, investors,… Read More

A Funny Thing Happened on the Way to the (2014 SEC Government Small Business) Forum

As one who has represented small and emerging growth companies over the past 36 years in navigating access to the capital markets, I have closely followed the legislative and regulatory developments in Washington, D.C. since the enactment of the Jumpstart Our Business Startups Act of… Read More

Crowdfunding Industry Advocates Respond to IAC Recommendations on Accredited Investor Definition

Last week the Investor Advisory Committee met at the Securities and Exchange Commission to review and make recommendations on several issues regarding investors.  At the top of the list was the hot polemic on how an accredited investor should be defined. As it stands today… Read More

Release Title III: Securities Based Crowdfunding Rules – The New Investing Model

Some Issues in Title III Crowdfunding Regulations Require Modification. Recently, there has been a renewed call for action on Title III (Regulation Crowdfunding) to go-live. And there are some proponents in the industry that just want the rules to go live ‘as-is’. However, the Crowdfunding… Read More

CFIRA Takes Vocal Stand on “Accredited Investor” Definition

The Crowdfund Intermediary Regulatory Advocates (CFIRA) has taken a firm and concise stand on the debate enveloping the definition of an “Accredited Investor”.  CFIRA has been at the forefront in advocating for financial innovation and investment crowdfunding.  The group promotes the interests of issuers AND… Read More

CFIRA Tackles Investor Advisory Committee Recommendations on Crowdfunding

The Crowdfund Intermediary Regulatory Advocates (CFIRA) recently posted a comment letter on the SEC web site regarding JOBS Act implementation.  The comment letter was in direct response to the recommendations provided by the Investor Advisory Committee (IAC) who recently met – reviewing their requests for… Read More

Crowdfunding Can Lessen the Wealth Gap. If Regulated Correctly.

Now that we have seen what real turbulence is with the financial crisis of 2008, fear and panic are drivers of economic behavior. Strengthening the financial markets for America’s small businesses and closing the wealth gap amongst the crowd is a must. Now is not… Read More

Views on Title III “Crowdfunding”, SEC Regulations: Kim Wales

Entrepreneur and crowdfunding industry thought leader Kim Wales has outlined her views on Title III  of the Jumpstart Our Business Startups Act of 2102 which covers “popular” crowdfunding (sometimes called Reg CF).  The comment period for the SEC on the proposed regulations are scheduled to end next month on… Read More

SEC’s Proposed Crowdfunding Regulations: Six Deadly Sins

HOW TO MAKE THE SEC REPENT BEFORE IT IS TOO LATE. In a previous article in Crowdfund Insider on November 4, 2013, I identified a number of serious problems with the SEC’s proposed crowdfunding regulations. I also promised readers to share my opinions on what… Read More

Is Financial Disclosure for Crowdfunding Companies Too Expensive?

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

SEC Small Business Forum: Takeaways From A Crowdfunding Perspective

The SEC Government-Business Forum on Small Business Capital Formation took place last week at the Securities and Exchange Commission Headquarters in Washington, DC. I will admit that I was very excited to attend this event. This was the first event we attended last year shortly… Read More

Agenda, Panelists Announced for SEC Small Business Forum

The Small Business Forum is an annual event, open to the public, which is held at the Securities and Exchange Commission.  The SEC has announced this year’s official agenda and current list of panelists. The Government-Business Forum on Small Business Capital Formation will begin on… Read More

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