Crowdfunding

Crowdfunding is a method for raising capital whereby many individuals network and pool their funds, usually via the internet or social media. Crowdfunding methods are used in a variety of circumstances including,... more +
Crowdfunding is a method for raising capital whereby many individuals network and pool their funds, usually via the internet or social media. Crowdfunding methods are used in a variety of circumstances including, but not limited to, supporting charitable organizations, disaster relief, product development, artistic projects, and financing start-up companies. The passage of the JOBS Act of 2012 sought to broaden the use of crowdfunding in developing private capital for start-up companies by relaxing certain SEC investor registration requirements. less -
News & Analysis as of

Private Fund Update - April 14, 2014

In this issue: - The 113th Congress - The Administration - Securities and Exchange Commission - Commodity Futures Trading Commission (CFTC) - Association for Corporate Growth (ACG) -...more

SEC Issues New and Revised Guidance on Intrastate Crowdfunding

On April 10, 2014, the Division of Corporation Finance of the Securities and Exchange Commission (the “SEC”) issued one revised and two new compliance and disclosure interpretations (“C&DIs”) regarding crowdfunding and Rule...more

CSA Releases Crowdfunding Proposals for Comment

On March 20, 2014, the Canadian Securities Administrators (CSA) published a notice (the CSA Notice) announcing the release for comment of two proposed equity crowdfunding prospectus exemptions. Some provincial securities...more

What Does the New Washington Crowdfunding Law Allow?

The Washington State legislature has passed a crowdfunding bill, HB 2023. The Governor has yet to sign the bill, so it is not yet law. But hopefully it will be law soon. If you are wondering what the new law will...more

Corporate Communicator - Spring 2014

In this issue of the Corporate Communicator we bring you two short articles on important developments from the SEC relating to private securities offerings and private M&A transactions. In the first article, we discuss the...more

Crowdfunding and Other New Prospectus Exemptions Proposed by the Ontario Securities Commission

On March 20, 2014, the Ontario Securities Commission (OSC) published for public comment four new prospectus exemptions intended to facilitate capital raising while maintaining investor protection. The proposed exemptions...more

Fed Governor Addresses Crowdfunding

Governor Jeremy C. Stein spoke at the Crowdfunding for Community Development Finance Conference today. Fed Governor Stein’s remarks emphasized that perhaps all too often crowdfunding is associated only or primarily with tech...more

Crowdfunding Alert: Ontario Securities Commission Releases Equity Crowdfunding Exemption Proposal

Following a lengthy consultation period and broad review, the Ontario Securities Commission (“OSC”) has unveiled a series of proposed prospectus exemptions aimed at growing small and medium-sized enterprises (“SMEs”). Among...more

The Financial Report - Volume 3, No. 6 • March 2014 (Global)

Discussion and Analysis - For the past year or so, we have been discussing various forms of “crowdfunding” on these pages, especially “investment crowdfunding” -- the use of crowdfunding to raise capital for an...more

Costs of Equity Crowdfunding: Are Companies in for Sticker Shock?

When the SEC‘s proposed new rules for regulating crowdfunding came out in October last year, there was understandably a lot of excitement. What’s not to love about the lofty idea of providing companies access to the huge...more

Crowdfunding: When Will the Rules Be Done?

The startup community is getting excited and antsy. The comment period on the SEC’s crowdfunding rules ended February 3. The speculation has begun – when will the rules be final? Could it be this summer? My answer: Who...more

SEC Releases Proposed Rule Amendments to Regulation A

On December 18, 2013, the Securities and Exchange Commission released its proposed rule amendments to Regulation A, which were required by Section 401 of the JOBS Act. Among the changes, the proposed rules create two tiers of...more

SEC Proposes Rules To Amend Regulation A

On December 18, 2013, the Securities and Exchange Commission (the “SEC”) released proposed rules to amend Regulation A to provide for the offering of up to $50 million in securities. Regulation A is a quasi-public offering...more

The plus side of Reg A

To date, the Jumpstart Our Business Startups Act (the JOBS Act) is best known for legalizing securities crowdfunding (better called ‘crowd investing’), lifting the ban on the mass marketing of private offerings, and fostering...more

Gimme an "A!" The SEC Proposes Regulation A Offerings for up to $50 Million

As we have noted in prior Bulletins, pursuant to Section 5 of the Securities Act of 1933 (Securities Act) and state securities laws, any offer and sale of a security must be registered with the Securities and Exchange...more

Chair White’s Guidance

SEC Chair White made remarks at the Securities Regulation Institute that provided insight on the SEC’s progress on JOBS Act implementation. She noted that, based on information collected by the SEC’s Division of Economic and...more

Crowdfunding: SEC Proposes to Exempt From Registration Internet Offerings Up to $1 Million

Late in 2013, the Securities and Exchange Commission (SEC) proposed new rules that would, if approved, authorize the use of the Internet for so-called crowdfunding campaigns seeking up to $1 million per 12-month period from...more

Legislation Allows Michigan Companies To Raise Capital, Avoid Federal Crowdfunding Rules

Effective December 30, 2013, Michigan Gov. Rick Snyder enacted into law Public Act 264 of 2013 (the "Act"). Among other things, the Act establishes a crowdfunding method of raising capital in Michigan. "Crowdfunding" refers...more

Crowdfunding And Taxes In Kickstarter: Everybody Wants Their Share

The Crowdfunding movement has moved from an internet e-commerce buzz word to an actual viable way for everyone from the smallest of artists to high profile actors to get funding for a project that otherwise wouldn’t happen. ...more

What Startup Entrepreneurs Need to Know About Crowdfunding Before They Raise Money

What's the one thing entrepreneurs and small business owners need to know about crowdfunding before they raise money? For a JD Supra Perspective, that’s the question we put to experts writing on this matter. Here’s what we...more

Setting the Stage for 2014: SEC Announces Exam Priorities

Pay attention to this one. Earlier this month, the SEC Office of Compliance Inspection and Examination issued its annual list of 2014 examination priorities for a variety of financial institutions including investment...more

Investor Advisory Committee Meeting Scheduled

The SEC announced the next meeting of the Investment Advisory Committee, which will be held on January 31st. The agenda includes a discussion of, among other things, decimalization and crowdfunding. ...more

SEC Proposes Regulation A+ For Small Businesses

With all eyes focused on the lifting on the ban on solicitation and the new proposed equity crowd funding rules, one major rulemaking proposal mandated under the JOBS Act did not get the attention it deserves: the new small...more

Joining the Crowd - Investing profitably in equity crowdfunding

Crowdfunding is a word you’ve heard a lot since the passage of the JOBS Act in 2012. But what is crowdfunding, and, more importantly, how you can use it to invest profitably? What Is Crowdfunding? - Crowdfunding...more

A Must Read: FINRA’s 2014 Exam Priorities

FINRA did not wait for any dust (or snow) to settle on the New Year before alerting the brokerage industry and the public about its regulatory and examination priorities for 2014. This year’s letter, issued earlier than ever...more

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