Archive for June, 2012
Updated: SEC Chair Says SEC Should Meet Deadline for Crowdfunding Rules
Washington, D.C. (June 28, 2012) Mary Schapiro, Chair of the Securities and Exchange Commission, testified today before a House subcommittee that the SEC expects to meet the December 31, 2012 to implement crowdfunding rules under the Jumpstart Our Business Startups Act. Ms. Shapiro testified before the House Committee on Oversight and Government Reform. The Committee held [...]
Guest Column: Crowdfuding Offers Direct and Personal Role in Shaping Creativity and Innovation
Guest Article by Arie Abecassis. Mr. Abecassis is co-founder of the recently launched http://www.appstori.com/. Crowdfunding has come a long way in a short period of time. What started out as a social experiment several years ago has been validated as a viable means for thousands of people to tap into their inner-entrepreneur. Recent data suggests that [...]
Updated: Jumpstarting Jobs is “Too Urgent to Delay,” Panel Tells Congressional Committee on Crowdfunding
Washington, DC, June 26, 2012. Keep crowdfunding costs down and crowdfunding rules simple, a panel of experts testified today before the House Oversight and Government Reform Subcommittee on TARP, Financial Services, and Bailouts of Public and Private Programs (Committee). The panel, composed of industry and academic experts, also declared that crowdfunding “can spark a revolution [...]
CFIRA Hosts Symposium to Jump Start Development of Crowdfunding Regulations
Crowdfund Intermediary Regulatory Advocates (CFIRA) will hold a symposium in Washington, DC on July 13, 2012 to bring together lawmakers, regulators, and crowdfunding advocates. As the leading advocacy group for the crowdfunding industry, CFIRA invites these key constituents to come together and discuss the rules that will govern equity crowdfunding under the JOBS Act. The JOBS [...]
Podcast: How the JOBS Act will Return the Public Markets as the Engines of Economic Growth
CFIRA Leadership Team Member Dara Albright, founder of the NowStreet Journal – the voice of the private company marketplace– is featured on this week’s episode of the Grow VC Everyone Funding Startups podcast, which explores the Facebook IPO fiasco and discusses what the disappointing offering says about the state of the U.S. capital market. Ms. [...]
SEC Says Companies Cannot Use Crowdfunding To Raise Funds From Investors Until SEC Issues Rules
There is growing eagerness to get equity crowdfunding off the ground, but equity crowdfunding will have to wait until the Securities and Exchange Commission approves rules to regulate it. As the SEC tersely warns issuers: “Any offers or sales of securities purporting to rely on the crowdfunding exemption would be unlawful under the federal securities laws.” [...]
Crowdfunding “Superexciting for Women;” Crowdfunding in the News
Baat Enosh of Women 2.0 wrote on June 15, 2012 that crowdfunding can be “superexciting for women.” She adds, “historically, women consisted of about 10% of angel investors. Crowdfunding could be a huge turning point for that number. Her article features an interview with Candace Klein, found and CEO of SoMolend.com and co-chair of the Crowdfund Intermediary Regulatory Advocates. [...]
Crowd Funding for Equity Solutions Series, No. 5: Dealing with “Held of Record” Issues
David Drake of LDJ Capital continues today with his fourth article on his series regarding crowdfunding for equity solution. Crowd funding is exempt from ‘held of record‘ calculation in regards to registration requirements under 12g of SEC 1934 Act. But among the issues that could effectively kill the crowd funding provisions in the JOBS Act, is the [...]
Fascinating View of Crowdfunding Ecosystem
Davis Jones, EDHEC Global MBA Participant, provided us with an interesting and updated flowchart of a US equity crowdfunding ecosystem. Thanks to Davis Jones. A larger copy of the flowchart can be viewed at http://oi46.tinypic.com/347d8ab.jpg.
Guest Column: Crowdfunding Fills a Gap
Guest Article by Kevin Hitchen, founder, Localstake.com Like it or not, the crowd is good for VCs and angels. Many big name investors fear the prospect of messy cap tables and unsophisticated investors ruining deals, but there are some VCs who get it: crowdfunding is here, so embrace it and take advantage of the opportunity [...]