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INFOGRAPHIC: An Explanation Of General Solicitation From Fundable - Crowdfund Insider

INFOGRAPHIC: An Explanation Of General Solicitation From Fundable - Crowdfund Insider | Crowdfunding World | Scoop.it

Fundable has released the following infographic explaining the high-level details of the removal of the ban on general solicitation for select private placement offerings. Fundable is a Columbus, Ohio based crowdfunding platform.

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What the SEC Letters to FundersClub and AngelList Mean for Investment Crowdfunding

What the SEC Letters to FundersClub and AngelList Mean for Investment Crowdfunding | Crowdfunding World | Scoop.it
No-action letters from the SEC to FundersClub and AngelList have lessons for other platforms in the accredited investor crowdfunding space - if not for those crowdfunding portals waiting on rules to implement investment crowdfunding for...
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Marty Koenig's curator insight, April 4, 2013 11:36 AM

Keep waiting. I said a year ago when JOBS Act passed, that a year would be asking for a iracle. Expect this to drag on at the SEC for years, and in the end we'll have a watered down equity crowdfunding capability. I'm sticking with reward-based and donation-based crowdfunding campaigns for you. Yes, the potential to rais greater sums is in the equity market, but short of spending $10,000 - $20,000 on lawyers and accountants to put together a REG D or SCOR filing, or slogging to NYC or Silicon Valley to get in front of angel investors, crowdfunding in the US in it's current form is here to stay.

 

There will be consolidation, as niche CFP's (CrowdFunding Platforms) pull together operational efficiencies over the next five years.

 

See Crowdfunding Pro and Contra Summit: http://bit.ly/CrowdfundingProContraDenver

 

Marty Koenig

CrowdfundEnergy

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Mary Jo White to Lead SEC: Crowdfunding Implications?

Mary Jo White to Lead SEC: Crowdfunding Implications? | Crowdfunding World | Scoop.it
President Barack Obama nominated Mary Jo White to head the SEC earlier today. We take a look at White's track record and what her nomination may mean for crowdfunding and the JOBS Act.
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CFIRA Offers SEC Tips for a 21-Day Cool-off Period for Crowdfund Investing

CFIRA Offers SEC Tips for a 21-Day Cool-off Period for Crowdfund Investing | Crowdfunding World | Scoop.it

Cincinnati, OH – December 1, 2012 — Members of the Crowdfund Intermediary Regulatory Advocates (CFIRA) urge the Securities and Exchange Commission to consider rules under the JOBS Act that would allow issuers of crowdfund equities to rescind an offer or to decline investors if a portal  believes the transaction may be unlawful.  CFIRA Board Member Kim Wales submitted CFIRA’s comments today to the SEC.

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SEC leadership change could further delay crowdfunding

SEC leadership change could further delay crowdfunding | Crowdfunding World | Scoop.it

The process required to confirm a permanent successor may mean an even longer wait for already delayed crowdfunding regulations.

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Dear SEC: The Right to Accept Risk Must be Ours

Dear SEC: The Right to Accept Risk Must be Ours | Crowdfunding World | Scoop.it

Jonathan Sandlund writes in to offer his take on the SEC's recent forum on Small Business Capital Formation.

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SEC Forum Covers JOBS Act, Crowdfunding Progress and Concerns

SEC Forum Covers JOBS Act, Crowdfunding Progress and Concerns | Crowdfunding World | Scoop.it

At its annual "Government-Business Forum on Small Business Capital Formation," today the U.S. Securities and Exchange commissioners and invited panelists discussed progress, key issues and concerns with implementation of the JOBS Act, including Title III, the provision to legalize crowdfunding for equity.

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Push Crowdfunding With Due Speed and Clarity, Panel Urges Congress | CFIRA

Push Crowdfunding With Due Speed and Clarity, Panel Urges Congress | CFIRA | Crowdfunding World | Scoop.it

Washington, DC — September 13, 2012 - Quite simply, crowdfund investing will bring more capital to small business, a crowdfunding panel told a congressional committee today. “Today’s small startups are tomorrow’s Fortune 500 employer,” Naval Ravikant, CEO of AngelList, told the House Joint Subcommittee Hearing on JOBS Act Implementation during a hearing today.

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SEC’s Proposed Rule on General Solicitation Reads, “Sorry…Please Hold… It’s Too Complicated for Us” | TechCrunch

SEC’s Proposed Rule on General Solicitation Reads, “Sorry…Please Hold… It’s Too Complicated for Us” | TechCrunch | Crowdfunding World | Scoop.it
Hopes for startup crowfunding will have to wait for the federal bureaucracy to give it their stamp of approval: earlier this week the Securities and Exchange Commission (SEC) came out with a draft version of what they have in mind. Oddly enough, it doesn’t say much other than proceed with caution.
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First S.E.C. Rulings Launch Crowdfunding with Accrediteds - Forbes

First S.E.C. Rulings Launch Crowdfunding with Accrediteds - Forbes | Crowdfunding World | Scoop.it
After delays, the S.E.C. finally ruled publicly on crowdfunding legislation. When President Obama signed the JOBS Act into law on April 5, he also fired the starting gun to make business crowdfunding real in 270 days.


For everyone in the crowdfunding community, this long-awaited announcement is a positive and essential step towards the realization of the full vision of crowdfunding with accredited investors and everyday non-accredited investors alike.

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SEC Seeks Comments on First Set of Proposed Rules Under JOBS Act | CFIRA

SEC Seeks Comments on First Set of Proposed Rules Under JOBS Act | CFIRA | Crowdfunding World | Scoop.it

Washington, DC – The Securities and Exchange Commission today proposed rulesthat will permit advertising of certain securities to accredited investors under the Jumpstart Our Business Startups Act (JOBS Act). The SEC seeks public comment about the rules within the next thirty (30) days.

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A Conservative Approach: Crowdfunding Regulations for Professionals

Even though the legislation that allows equity-based Crowdfunding was signed into law on April 5, 2012, the rules have not yet been finalized. However, the preliminary release of these rules by the governing agencies—the Securities and Exchange Commission (SEC) and FINRA—are just over the horizon. In this whitepaper, CommunityLeader reviews and explains in greater detail the specifics of it's own letter of comment submitted to FINRA and the SEC.

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SEC Moves Hearing on JOBS Act Advertising Rules to August 29 | CFIRA

SEC Moves Hearing on JOBS Act Advertising Rules to August 29 | CFIRA | Crowdfunding World | Scoop.it

Washington, DC (August 22, 2012) - With little fanfare — and short notice — the Securities and Exchange Commissiondelayed a hearing until August 29, 2012 to consider new advertising rules for certain security offerings under the JOBS Act.  One lawmaker accused the SEC of “kicking the can down the road” for the delay.

 

The Jumpstart Our Business Startups Act, signed into law on April 5, 2012, required the SEC to implement rules to eliminate the prohibition against general solicitation and general advertising in securities offerings conducted pursuant to Rule 506 of Regulation D under the Securities Act and Rule 144A under the Securities Act. Under the law, investors may use general advertising to make Reg D offerings to accredited investors.

 

The JOBS Act required the SEC to implement the rules by July 4, 2012. During a hearing before the House Subcommittee on TARP, Financial Services and Bailouts of Public and Private Programs on July 28, 2012, SEC Chair Mary Schapiro testifiedthat the SEC would not meet the July 4 deadline. However, Ms. Schapiro told the Subcommittee that she expected general solicitation rules during the summer of 2012. The JOBS Act also requires the SEC to create rules by the end of the year for crowdfund investing.

 

Concerned about the progress the SEC is making under the JOBS Act, a House Subcommittee has schedule another hearing . . . .

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SEC Lifts Ban On General Solicitation, Allowing Startups To Advertise That They’re Fundraising | TechCrunch

SEC Lifts Ban On General Solicitation, Allowing Startups To Advertise That They’re Fundraising | TechCrunch | Crowdfunding World | Scoop.it
The SEC has just voted 4 to 1 in favor of implementing section 201(a) of the JOBS Act, which lifts the ban on general solicitation and permits startups, venture capitalists, and hedge funds to openly advertise that they’re raising money in private offerings. While it may pose added risk of investors being misled, it should make it significantly easier for companies to raise capital to start or continue financing a business.
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How crowdfunding’s secondary market could evolve

How crowdfunding’s secondary market could evolve | Crowdfunding World | Scoop.it
A stock exchange for small businesses could alleviate the liquidity problems that face small companies in the United States today.
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Outgoing SEC Chair Schapiro Delayed JOBS Act Rulemaking Over Legacy Worries

Outgoing SEC Chair Schapiro Delayed JOBS Act Rulemaking Over Legacy Worries | Crowdfunding World | Scoop.it
Outgoing Securites and Exchange Commission chair Mary Schapiro opted to slow down the process of implementing Title II of the JOBS Act at the last minute over concerns about her legacy at the SEC and after receiving pressure from a lobbyist.
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CFIRA Members Are Optimistic for Equity Crowdfunding in 2013

CFIRA Members Are Optimistic for Equity Crowdfunding in 2013 | Crowdfunding World | Scoop.it

November 27, 2012 – Despite news that the chair of the SEC will step down next month, CFIRA members remain optimistic that the SEC will formulate rules to govern equity crowdfunding under the JOBS Act. Images (c) crestock.com under license. 

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Mary Schapiro Will Step Down as SEC Chair

Mary Schapiro Will Step Down as SEC Chair | Crowdfunding World | Scoop.it

After nearly four years in office, SEC Chairman Mary L. Schapiro today announced that she will step down on Dec. 14, 2012

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Anna B. Scott's comment, November 27, 2012 7:38 PM
Huge news!
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Deadline approaching for crowdfunding regulators

Deadline approaching for crowdfunding regulators | Crowdfunding World | Scoop.it

Ever since President Obama signed the Jumpstart Our Business Startups Act in April, entrepreneurs and investors have been buzzing about the promise of new paths to start-up capital. But the clock is ticking for the regulators charged with implementing the law, and with little more than a month left before their deadline, several key questions remain unanswered

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Trust Crowd Intelligence for Crowdfunding, CFIRA Urges FINRA | CFIRA

Trust Crowd Intelligence for Crowdfunding, CFIRA Urges FINRA | CFIRA | Crowdfunding World | Scoop.it

CFIRA, a leading crowdfund investing coalition, has urged the largest independent securities regulator known as FINRA to embrace  “crowd intelligence” as FINRA develops a self-regulatory scheme for equity crowdfunding.  The Jumpstart Our Business Startups Act, signed into law on April 5, 2012, authorizes small businesses to raise up to $ 1 million per year through online, crowdfunding portals from small investors. Under the JOBS Act, the Securities and Exchange Commission must formulate regulations before crowdfund investments are offered to the public.

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The SEC’s Crowdfunding Conundrum | Techonomy

The SEC’s Crowdfunding Conundrum | Techonomy | Crowdfunding World | Scoop.it

When President Obama signed the JOBS Act last April, one of the most controversial and potentially far-reaching provisions was giving startups the ability to raise money through crowdfunding. Private companies would be able to sell shares to all manner of individual investors for the first time. Currently you need to be an “accredited investor” (a high net-worth individual) to buy private company stock through angel rounds or electronic platforms such as SecondMarket and SharesPost. But the JOBS Act will open that up to anybody as soon as the SEC hammers out the rules by early next year. Deciding exactly what those rules should be, however, is far from a straightforward task. The SEC must protect investors without prematurely cutting off this new source of capital for startups.

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SEC uses JOBS Act to set up new roadblocks to crowdfunding

SEC uses JOBS Act to set up new roadblocks to crowdfunding | Crowdfunding World | Scoop.it
Guest Post Disappointing news came out of the SEC meeting yesterday designed to open the way for crowdfunding in the U.S.
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SEC moves closer to making crowdfunding a reality

SEC moves closer to making crowdfunding a reality | Crowdfunding World | Scoop.it
JOBS Act provisions eases restrictions, up to issuers to make sure investors are accredited...
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Subcommittee Sets Hearing on SEC’s Rule-making Progress Under JOBS Act | CFIRA

Subcommittee Sets Hearing on SEC’s Rule-making Progress Under JOBS Act | CFIRA | Crowdfunding World | Scoop.it

In a terse letter, Rep. Patrick McHenry (R-NC) requestedMary Schaprio, the chair of the Securities and ExchangeCommission, to appear before a House subcommittee hearing on September 13, 2012, expressing dissatisfaction over the SEC’s progress in implementing regulations under the new federal JOBS Act.

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Crowdfund Experts Dispute Claim that Crowdfunding Is A “Top Danger” | Crowdfunding Professional Association

Crowdfund Experts Dispute Claim that Crowdfunding Is A “Top Danger” | Crowdfunding Professional Association | Crowdfunding World | Scoop.it

Crowdfunding proponents will share examples of how the crowd has successfully weeded out fraud on donation-based crowdfunding platforms since it has been up and running for the past five years.

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