Archive for News
JOBS Act, Version 2
Washington, DC – June 12, 2013 – The House Financial Services Committee began exploring today the need for additional laws to reduce additional barriers to capital formation. The hearing today falls on the heel of the last year’s enactment of the Jumpstart Our Business Startups Act. The Subcommittee on Capital Markets and Government Sponsored Enterprises began [...]
Obama Nominates Senate Aides for the SEC
Washington, DC – May 23, 2013 — President Barack Obama nominated today Kara Stein, an aide to Sen. Jack Reed (D., R.I.), and Michael Piwowar, an aide to Sen. Mike Crapo (R., Idaho) to the Securities and Exchange Commission. Ms. Stein would succeed Democratic Commissioner Elisse Walter, and Mr. Piwowar would take over the spot currently [...]
GOP Pushes SEC Chair to Implement Rules for JOBS Act
Washington, D.C. - May 13, 2013 - Senators John Thune (R-S.D.) and Pat Toomey (R-Pa.), and Representatives Kevin McCarthy (R-Calif.) and Patrick McHenry (R-N.C.) today sent a letter to the Chairman of the U.S. Securities and Exchange Commission (SEC), Mary Jo White, urging the SEC to move forward with the proposed rule to implement Section 201 of [...]
Donald Trump Jumps Into the Crowdfunding Fray
New York, NY – May 8, 2013 – Fundanything.com launched its crowfunding site with the backing of New York business mogul Donald Trump and William Zanker. Messrs. Trump and Zanker are the latest of a series of investors over the past week who have invested in crowdfunding platforms. “I’m taking a stand, and am putting [...]
SEC Chair Seeks $1.674 Billion Budget; Says Crowdfund Rules a Key Priority
Washington, D.C. – May 7, 2013 – Mary Jo White, the new chair of the Securities and Exchange Commission, urged members of a House panel to approve her agency’s request for $1.674 billion budget in order to fulfill its mission to create rules for crowdfunding under the Jumpstart Our Business Startups Act (JOBS Act) as well [...]
Google and Other Investors Eagerly Pump Funds into Crowdfunders
New York – May 7, 2013 – Google Ventures as well as other high profile venture capitalists are showing their faith in crowdfunding’s future by pumping funds into platforms such as CircleUp and Lending Club. Today, CircleUp, an equity-based crowdfunding platform, announced today it has closed a $7.5 million Series A financing, the largest raise for [...]
Concerns Over Fraud Delays General Solicitation Rules, SEC Commissioner Tells House Committee
Washington – April 17, 2013. Securities and Exchange Commissioner Elisse Walter told the House Committee on Financial Services today that concern about fraud is delaying release of proposed rules to allow general advertising for certain securities under Title II of the JOBS Act. The committee called the hearing to investigate what it perceives as an [...]
President Nominates Mary Jo White to Head SEC
Washington, D.C. – January 24, 2013 – You don’t want to mess with Mary Jo. That is how President Obama summed up his nomination today of Mary Jo White as the next chairwoman of the Securities and Exchange Commission. President Obama announced his nomination of a former federal prosecutor oversaw the prosecution of the mafia [...]
Deloitte Predicsts Crowdfunding Portals Will Raise $3 Billion in 2013
New York, New York – January 15, 2013 – Deloitte predicts that crowd funding portals will raise $ 3 billion, double the $1.5 billion raised in 2011. Deloitte released today its Technology, Media and Telecommunications Predictions 2013 report, highlighting the impact that crow funding will have in 2013. ”[T]he $3 billion that crowd funding is [...]
Bi-Partisan Group Pushes JOBS Act
Washington, D.C. – December 11, 2012 – Senators Jeff Merkley (D-OR) and Michael Bennet (D-CO) urged Chairman Mary Schapiro of the Securities Exchange Commission to request that rules governing crowdfunding activities be issued quickly. Merkley and Bennet were lead sponsors on the CROWDFUND Act, which was passed on April 5, 2012 and legalizes the raising [...]
