Washington, D.C. - May 13, 2013 - Senators John Thune (R-S.D.) and Pat Toomey (R-Pa.), and Representatives Kevin McCarthy (R-Calif.) and Patrick McHenry (R-N.C.) today sent a letter to the Chairman of the U.S. Securities and Exchange Commission (SEC), Mary Jo White, urging the SEC to move forward with the proposed rule to implement Section 201 of the bipartisan Jumpstart Our Business Startups (JOBS) Act.  President Obama signed the JOBS Act into law on April …Read More

A new study by Wharton Management Professor Ethan Mollick finds that crowdfunders apply similar factors as venture capitalists to decide whether to fund a start-up venture.  The study dispels some concerns that crowdfund investors lack any sophistication. According to Professor Mollick’s recent paper, “Swept Away by the Crowd? Crowdfunding, Venture Capital and the Selection of Entrepreneurs,” a draft of which was published in March, entrepreneurial quality is being examined in similar ways …Read More

New York, NY – May 8, 2013 – Donald Trump says he’s willing to put his money where his mouth is by investing in crowdfunding. Today, Mr. Trump and his partner William Zanker announced the launch of Fundanything.com, a crowdfunding portal intended to give people “a way to raise capital to pay for a medical emergency, save or rebuild their home, launch a business, create the next Farmville, write a …Read More

New York – May 7, 2013 – Google Ventures as well as other high profile venture capitalists are showing their faith in crowdfunding’s future by fundingplatforms such as CircleUp and Lending Club. Today, CircleUp, an equity-based crowdfunding platform, announced today it has closed a $7.5 million Series A financing, the largest raise for an equity-based crowdfunding site. With the new funding, CircleUp plans to hire engineers and designers to build out …Read More

Washington, D.C. – May 7, 2013 – Mary Jo White made her first appearance on Capitol Hill today as the new chair of the Securities and Exchange Commission and urged members of a House panel  to approve a new budget that would enable the SEC to move swiftly on making rules under the JOBS Act and other laws.  Ms. White testified today before the Financial Services subcommittee of the House …Read More

Washington – April 17, 2013.  Securities and Exchange Commissioner  Elisse Walter told the House Committee on Financial Services today that concern about fraud has delayed rules for general solicitations for securities under Title II of the JOBS Act.  The committee called the hearing to investigate what it perceives as an unreasonable delay by the SEC in formulating rules under Title II of the Act, which were due last July 4, 2012. …Read More