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In the second part of this week’s episode we move beyond what our past adventures to a discussion on the present and future of crowdfunding. Here we speculate wildly on what is taking the SEC so long (and why that may not be a bad thing in the long run), what might happen once the regulations are put forward, and why Congress might just write the thing themselves. We also discuss the potential problems with how the SEC and FINRA may come down on the regulations. Note: the Mark Mohler article I mentioned, while it has a more pessimistic view than we do on the SEC’s regulation, is a well thought-out and serious piece and absolutely worth a read.
Hello! It has been a while since our last episode, but that is because we have been so busy traveling around talking about crowdfunding. In this podcast we finally get the whole gang in one room to talk about their experiences with traveling to Sweden to talk cröwdfůnding (not the actual Swedish spelling), talking to entrepreneurs and eating barbecue in Austin, Texas, and letting it ride in Vegas at the First Annual Crowdfunding Bootcamp and CFPA meeting. Fun for the entire family (even the Vegas part).
This week Brian was able to speak with Paul Niederer of the Australian Small Scale Offerings Board about the crowdfunding experience and industry in Australia, and what the US can learn from it. The CrowdFundCast would like to thank Paul again for his time and generosity.
So, I know I said this was coming Sunday, but why wait? Here is out interview with Candace Klein of SoMoLend and CFIRA. She kindly braved Skype’s technical difficulties and my inexperience as an interviewer and gave us some fantastic information. We think you are going to like this one.
The SEC released a proposed rule (Look for Release #33-9354), pursuant to Title II of the JOBS Act that will lift the ban on general solicitation for accredited investor only Regulation D raises. We have done an analysis memo of the proposed rule, and compared Regulation D to Title III investment crowdfunding. Check out the link below to get to the memo. CrowdCheck Memo on New Reg D
In the thrilling conclusion of the first episode we (sort 0f) answer the question of whether the SEC’s actions on rule 506(c) have any implications for Title III crowdfunding. We then leave the champagne wishes and caviar dreams of accredited investing for a discussion of the likely similarities and differences between investment crowdfunding and donation/perks based crowdfunding.
For our first real (albeit still rough) podcast Sara, Thaya, and Brian discuss the SEC’s new proposed rule 506(c), which seeks to eliminate the bar on general solicitation for accredited-only regulation D raises and the possible implications for Title III crowdfunding, with a cliffhanger ending that will leave you in suspense…until you listen to part B of the podcast.
So, here is our first podcast. This is nothing more entertaining than Brian introducing the CrowdFundCast and some funky music.
As the SEC works its way through the regulatory process many players in the investment industry have provided comment on how they think the SEC should handle crowdfunding. One such player is fellow Alexandria Virginia denizen The Motley Fool. Its letter to the SEC on the JOBS Act (.pdf) is fascinating and well worth a read. Focusing on the crowdfunding provisions, however, there are some things I think merit a response (there is a lot of good stuff as well, but me just agreeing over and over is pretty boring). I think that the Fool takes too narrow a view of the potential value of crowdfunding, and, more problematically, takes too pessimistic a view of the…