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SEC Makes Intrastate Crowdfunding A Little Easier

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By Mark Roderick CrowdFunding Beat  Sr. contributing editor and crowdfunding attorney with Flaster/Greenberg PC. The SEC just adopted rules that should make intrastate Crowdfunding easier, at least if State legislatures do their part. To understand how the new rules help and how they don’t, start with section 3(a)(11) of the Securities Act of 1933, which has been, until now, the basis for all intrastate Crowdfunding laws. While section 5 of the Securities Act generally provides that all sales of securities must be registered with the SEC, section 3(a)(11) provides for an exemption for: Any security which is a part of an issue offered and sold only to persons…

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Trump victory: a bumpy ride or financial opportunities?

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CrowdFund Beat  Special Report,  Trump winning the U.S. presidency is a bigger deal than Brexit, expect enormous volatility, but also important financial opportunities, affirms the boss of one of the world’s largest independent financial advisory organizations. The observation from Nigel Green, founder and CEO of deVere, comes as multibillionaire real estate mogul and reality TV star Donald Trump wins the race to the White House to become America’s 45th president. Mr Green comments: “Buckle up for a bumpy ride in the global markets.  Whether President Trump will, in fact, do what he has said he will do throughout his campaign, or whether it was just…

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SEC Adopts Final Expanded Intrastate Crowdfunding Rules

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By Samuel S. Guzik, CrowdFundBeat special guest editor,  Guzik & Associate Today the SEC unanimously adopted amendments to Rule 147 and Rule 504, and adopted a new Rule 147A, intended to modernize and facilitate local offerings by companies in their home state.  The final rules are much improved from the proposed rules issued in October 2015, in response to virtually unanimous views of rule commentors. The only fly in the ointment is that most states will need to update their legislation in order to be able to take advantage on the new, relaxed rules allowing broad internet solicitation. However, sales are still limited to investors in…

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Reg A Success Stories

Reg A Success Stories

At Dealflow’s Crowdfunding Conference in NYC last week one of the speakers (a good friend of mine) said that only 2 Reg A+ offerings thus far have closed (been successful), one in real estate (Fundrise) and one in automotive (Elio Motors, a FundAmerica/StartEngine/Hambrecht/Jumpstart customer). That’s incorrect. FundAmerica has, thus far, been a technology and compliance service provider to 11 Reg A+ offerings. Of those, 3 have “failed”, meaning they did not reach their minimums and investors were refunded from escrow. Of the other 8, 6 have met their minimums (and started receiving disbursements from escrow even as they continue to raise capital) and 2 are…

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Attorney Sanctioned by SEC for Unregistered Broker-Dealer Activity

Attorney Sanctioned by SEC for Unregistered Broker-Dealer Activity

By  Bret Daniel , Wealthforge.com, CrowdfundBeat Guest Post, The SEC crackdown on unregistered entities continues to grab headlines. Recently, we wrote about the importance of complying with the broker-dealer registration requirement under Section 15(a) by highlighting the latest violations by portfolio managers, online platforms, and individuals. We suggested that anyone that helps to facilitate a securities offering, even in the broadest sense, should consult a lawyer about the necessity of registering as a broker. The most recent SEC enforcement action, however, demonstrates that even lawyers can get tangled up in the wide net cast over unregistered broker-dealers. EB-5: Visa or Security? Mark Ivener was a…

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Improving Legal Documents in Crowdfunding: New Tax Audit Language for Operation Agreements

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By Mark Roderick CrowdFunding Beat  Sr. contributing editor and crowdfunding attorney with Flaster/Greenberg PC. Last year I reported that Congress had changed the rules governing tax audits of limited liability companies and other entities that are treated as partnerships for tax purposes. The changes don’t become effective until tax years beginning on or after January 1, 2018, but because most LLCs created today will still be around in 2018, it’s a good idea to anticipate the changes in your Operating Agreements today. Under the current rules, the IRS conducts audits of LLCs at the entity level through a “tax matters partner” (normally the Manager of the LLC), and…

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iDisclose Launches a Free “SEC Scrubber” Tool for Crowdfunding Issuers

Idisclose : Crowdfunding New Legal Platform

iDisclose Announces Free Online Tool to Conform Documents to SEC Acceptable Format NEW YORK, NY–(Marketwired – August 17, 2016) – iDisclose announced today that it is offering a free online service to help issuers and their counsel submit the required crowdfunding documents to the Securities and Exchange Commission. iDisclose CEO Georgia Quinn explained that “we have noticed a lot of people are having trouble uploading the required documents to the SEC’s online system known as EDGAR. This is due to the finicky nature of the system and somewhat archaic technology it uses. Several issuers’ uploads were getting bounced and the error messages were indecipherable.” Many…

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Understanding Reg CF: Discussing financial results

Understanding Reg CF: Discussing financial results

By Sara Hanks , CrowdFundBeat  Sr.contributing Guest Editor  CEO/Founder, CrowdCheck, Inc. As we have previously discussed, the Regulation CF disclosure requirement for thefinancial condition of the issuer has the potential to get inexperienced companies in trouble. It is in this section of the disclosure that optimistic entrepreneurs may provide misleading information by not providing the full details of performance measurements, or by not including information on the assumptions underlying any financial projections. Such statements may be misleading in their own right, or may omit information necessary to make the provided information not misleading – also known as securities fraud(link is external) (see paragraph (c)). As we have…

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Commonwealth Capital Adds New Crowdfunding Chapter to Its Premier E-Book,

Secrets of Wall Street E-Book (PRNewsFoto/Commonwealth Capital LLC)

CHICAGO, July 28, 2016 /PRNewswire/ — Commonwealth Capital LLC, a pioneering provider of Corporate Finance Advisory and Regulation Crowdfunding services, announced today that it has updated its popular e-book with a new Chapter Two dedicated entirely to crowdfunding. The definition of the term “crowdfunding” has evolved in recent years. The term was originally used for donation-based crowdfunding only, but is now used to define capital-based crowdfunding — also known as Regulation Crowdfunding — under Title II (2) and then under Title III (3) of the Jumpstart Our Business Startups (JOBS) Act of 2012. The JOBS Act has significantly leveled the investment playing field, encouraging a growing…

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Evaluating Crowdfunding for Architectural Projects

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By Rachael Everly, Crowdfund Beat guest contributor, Crowdfunding is often described as a practice to start off online investment campaign by popular people and generate funds or finances for specific related projects. This practice can leverage entrepreneurs, tech enthusiasts or businessmen who can spur some community support and start a petition to motivate people for investing some small dollar contributions. But can it help architects? How is Crowdfunding Relevant with Architecture? Crowdfunding can be applied to a range of investment opportunities provided for a viable project, services or the idea of a physical structure which can present itself as a worthwhile investment option for the people.…

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iDisclose Partners With Republic on Its Title III Crowdfunding

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Crowdfund Beat News, iDisclose Provides Republic Users With a Low Cost Legal Solution to Comply With Title III Crowdfunding Regulations NEW YORK, NY–(Marketwired – July 18, 2016) – iDisclose announced today that it is proud to be a part of Republic’s Title III crowdfunding launch. The AngelList spinoff and funding portal officially launched today with iDisclose as its exclusive Form C service provider. Each Republic issuer is provided with access to the iDisclose application to prepare their Form C at a fraction of the time and cost of using a traditional lawyer or law firm. Using a series of adaptive questions, similar to TurboTax TM,…

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Evaluating Crowdfunding’s Potential for Investing Platforms

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By Rachael Everly @RachaelEverly Crowdfund Beat Guest Post, Crowdfunding is now being viewed as a financial innovation for entrepreneurial projects or other investment prospects. The true success stories can be examined from the Silicon Valley projects as many entrepreneurs made their start-up plans into successful businesses. The initiative created focus for entrepreneurs and the tech ecosystems which ignited the drive for innovation and sustainability. There are a number of factors which lead to Crowdfunding such as lack of mobile/web infrastructure, high cost for the implementation of high end technology, developmental costs and restrictive financial regulations. For most students who become entrepreneurs after graduation, it is more challenging…

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HEADLINE NEWS

Telegraph.co.ukCity regulator to crack down on crowdfundingThe GuardianIt took over regulation of crowdfunding in April 2014 and its proposed changes stem from a review of rules that it announced in July. The government has encouraged the growth of the sector, particularly peer-to-pee [...]

Entrepreneur3 Trends That Will Shape Crowdfunding in 2017 - EntrepreneurEntrepreneurThe market is evolving, and so are the products that help drive it. Consumers and backers alike are on the lookout for customizable solutions to everyday ...and more » [...]

Crowd-funding campaign to save fire-damaged historic Anglican school in MadagascarEpiscopal News Service[Anglican Communion News Service] An Anglican college in Madagascar is facing closure unless a crowdfunding campaign can help it break a decade-long “vicious cycle” of decline cause [...]

VentureBeatHow crowdfunding will transform inner citiesVentureBeatIt's been only six months since Regulation Crowdfunding was legalized, and it's already proving to be highly successful funding source for new businesses. 50 percent of companies that have closed on their fina [...]

International Business Times UKTop 5 failed crowdfunding campaigns: The biggest scams and shams from Kickstarter and IndiegogoInternational Business Times UKTop five crowdfunding fails: From James Bond gadgets to anti-gravity shoes. Backers beware: Crowdfunding projects don't alw [...]

Cycling WeeklyHerne Hill Velodrome launches 'The Big Finish' crowdfunding campaignCycling WeeklyThe Friends of Herne Hill Velodrome have started a crowdfunding campaign to raise the money needed to fit-out the venue's new pavilion. The group hopes to gain £75,000 in ple [...]

ForbesThree Tips For Chinese Startups Launching In The U.S. Market Via CrowdfundingForbesEntering international markets has always been challenging, but some Asia-based companies have a found a surprising new strategy: crowdfunding. Three of the largest crowdfunding campaigns this sum [...]

Crowdfund InsiderSo You Want to Equity Crowdfund: A No-B.S. Guide to Crowdfunding Your BusinessCrowdfund Insider“With Regulation Crowdfunding, you're now asking your core customers, audience members, users—people who believe in your idea—to fund you. But, instead of just getting [...]

Spectator.co.uk (blog)Buy-to-let, food prices, crowdfunding and pensionsSpectator.co.uk (blog)In the year that the Government increased stamp duty by 3 per cent for landlords, research by the estate agency Haart shows that the number of properties sold to buy-to-let investors dropped [...]

Every Accountant Should Know About CrowdfundingAccountingweb.com (blog)As an accountant it is very important that you should be knowledgeable about crowdfunding. Crowdfunding is one of the best ways for a business to get the capital they need in quick time. Usually in crowdfunding, a [...]

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