OFFICIAL DRAFT – Illinois Proposed Intrastate Crowdfunding Exemption

Dollarphotoclub_38753851Well it’s official. At long last my proposed Illinois intrastate crowdfunding exemption has been formally drafted as a proposed bill. It may be without a sponsor at the moment but one step at a time….

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EVERYONE OUT OF THE POOL! – IAC Makes Recommendations Which Would Significantly Decrease The Pool of Available Accredited Investors

IAC

The Investor Advisory Committee (IAC) of the Securities and Exchange Commission (SEC) met yesterday to vote on the approval of its recommendations to the SEC for reforming the current definition of “accredited investor.” Most of the recommendations of the IAC call for changes to the definition which would significantly contract rather than expand the current pool of accredited investors.

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PUT OUT THE “FOR SALE” SIGN – New CDI 141.05 Allows General Advertising By Issuer In An Intrastate Offering

Sale red sign with copy spaceIn my prior post “SEC Releases New Guidance On Intrastate Offerings,” I reviewed Compliance and Disclosure Interpretations (“C&DIs”) numbers 141.03, 141.04 and 141.05 released by the SEC in April relating to securities offerings made pursuant to Rule 147 and Section 3(a)(11) of the Securities Act of 1933 (a/k/a the “intrastate offering exemption”). While C&DI 141.05 was seen as somewhat of a deathblow to the viability of intrastate crowdfunding offerings, a new version C&DI 141.05 recently issued by the SEC offers renewed hope.

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SEC Commissioner Addresses SEC Shortfalls and Recommends Changes

Speaker 2

Did you ever find yourself reading an article, or listening to a speech, and literally agreeing out loud with everything the person was saying? Well that happened to me as I read the transcript of the speech Commissioner Daniel M. Gallagher’s gave at a recent Heritage Foundation event.

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NEW MEXICO CROWDFUNDING – A Response From Director Wilson

Map of New Mexico

In my recent post “HOT OFF THE PRESS – New Mexico Releases Proposed Intrastate Crowdfunding Exemption,” I analyzed the new and unique proposed intrastate crowdfunding rules issued by Director Alan Wilson and his staff. Director Wilson recently responded to me regarding my analysis and to provide further clarification.

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