Showing posts with label JOBS Act. Show all posts
Showing posts with label JOBS Act. Show all posts

Wednesday, February 1, 2017

Feedback on the new book!

I thought I would share some initial feedback I have received on the new book: The JOBS Act: Crowdfunding Guide to Small Businesses and Startups 2nd ed. https://www.amazon.com/JOBS-Act-Crowdfunding-Businesses-Startups/dp/1484224086

"Definitely clear. I really enjoyed the depth of substance on the Act. I also liked the enthusiasm for crowdfunding w/o any of the manic cheerleading seen elsewhere (impact investing has the same problem - IMHO). Balance goes a long way in my view and you reminding readers that crowdfunding is real work is very important.

Scott S.

Thank you, Scott!

Wednesday, September 12, 2012

Crowdfunding webinar - 9/13/12


This webinar will provide a social investing summary of the law, along with a summary of how investors and businesses can use the law to enter the Crowdfunding market. We will also review current developments.
All paying attendees will get a copy of my book: The JOBS Act: Crowdfunding for Small Businesses and Startups [Paperback - Published 9/26/12] 
The law targets emerging growth companies and defines them as an issuer with “total annual gross revenues of less than $1,000,000,000 (one billion dollars)..during its most recently completed fiscal
year.” 
For potential investors, providing a platform for the sale of emerging company securities does not require registration as a Broker/Dealer, given certain exemption qualifications. To become a funding platform, vendors must fulfill 12 requirements. Equity issuers are subject to certain restrictions/limits.  There are four trading restrictions and three exemptions. Issuers (Emerging Growth Companies) are liable for any untrue statements of material facts.

In addition, the SEC must make a special effort to reach out to women, veteran and minority firms.

To register, go to: http://jobsact.eventbrite.com/

Tuesday, August 7, 2012

JOBS Act Hearing and Meeting

Schapiro and Issa at JOBS Act hearing
Mary Schapiro, Chair, SEC and Darryl Issa (R-CA)
Chairman, Committee on Oversight
and Government Reform,
at JOBS Act Hearing, June 26, 2012.
Photo by William Michael Cunningham
As C-SPAN noted, "The JOBS Act (Jumpstart Our Business Startups Act), designed to help small companies raise investment capital, was signed into law by President Obama on April 5, 2012. 

On June 26th, the TARP Subcommittee of  the House Oversight held a hearing on the Security and Exchange Commission's (SEC) efforts to implement the Act. The SEC had 270 days from the signing of the Act to set forth rules. Rep. Patrick McHenry (R-NC) chaired the hearing. The JOBS Act relaxes some of the regulations put in place by the Sarbanes-Oxley Act and establishes the creation of Internet funding portals to facilitate 'crowd funding,' the collective pooling of money to support business projects. Critics worry that the JOBS Act's relaxed regulations will encourage fraud." 

We attended the hearing and found that the SEC will be late in responding to the deadlines established by the law. No mention was made of the recent $2 billion dollar loss at JP Morgan or the LIBOR scandal. Given this, concerns about fraud were misplaced. 

This continues a pattern. On August 1, industry representatives FINRA and SIFMA met with the Treasury and the SEC to discuss the Act. No public advocates were present at the meeting, which focused on protecting the financial services industry from competition, not protecting consumers.