Dodd-Frank.com

Bipartisan Members of Congress and NASAA Declare Support for SEC’s Proposed Modernization of Rules to Facilitate Intrastate Crowdfunding Offerings

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On October 7, 2016, a bipartisan contingent of members of the U.S. House of Representatives and the president of the North American Securities Administrator Association (NASAA) coordinated a duel message to the SEC regarding its rule amendments to accommodate intrastate crowdfunding. The specific SEC rules at issue are Rules 147... Read More

Topics: Broker-Dealer, Crowdfunding

Secondary Trading in Regulation A+ Securities; $4.4 Million Committed by Investors Under Regulation Crowdfunding

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In connection with the SEC meeting of the Advisory Committee on Small and Emerging Companies, the SEC posted a presentation which deals in part on secondary trading of Regulation A+ securities. Among other things, it includes slides showing secondary trading activity in two Regulation A offerings – Elio Motors and... Read More

Topics: Crowdfunding, Public Companies and Securities

Final MNvest Rules Adopted

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On June 13, the final administrative rules implementing the MNvest intra-state crowdfunding exemption were adopted. The MNvest Rules were first proposed back in November of 2015.  Today’s publication in the Minnesota State Register notes that the MNvest Rules were adopted as proposed, other than a few revisions that are shown... Read More

Topics: Crowdfunding

Crowdfunding Begins With 17 Issuers

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Monday May 16, 2016 was the first day JOBS Act Title III crowdfunding could be used. Below are links to some portals and other information. StartEngine The StartEngine portal features five offerings, including Graphic Armor, Inc. Graphic Armor is in the business of full-color custom condom printing and is looking... Read More

Topics: Crowdfunding

New C&DIs on Regulation Crowdfunding

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On Friday the SEC released a new set of Compliance and Disclosure Interpretations on Regulation Crowdfunding ahead of the effective date of Regulation Crowdfunding on May 16.  The C&DIs address issuer communications with the public, application of the investment limitations, and balance sheet and financial information disclosures for recently formed... Read More

Topics: Crowdfunding

Fix Crowdfunding Act Improves JOBS Act

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The Fix Crowdfunding Act has been introduced by Representative Patrick McHenry, who was one of the architects of the FAST Act provisions simplifying securities laws. The Fix Crowdfunding Act increases the $1,000,000 issuer annual raise limit under the JOBS Act crowdfunding provisions to $5,000,000, addresses the liability of funding portals... Read More

Topics: Crowdfunding