San Mateo, California (PRWEB) August 23, 2012
CommunityLeader, Inc. announced today the release of their third whitepaper titled, "A Conservative Approach: Crowdfunding for Professionals.” This whitepaper builds on the letter of August 17, 2012 that Rick Weintraub, CommunityLeader's chief compliance officer, submitted to the Securities and Exchange Commission and FINRA commenting on the pending issuance of the rules and regulations on Crowdfunding.
Weintraub stated in the letter, “As contrasted with the aggressive positions taken by many of the Crowdfunding trade associations and other professionals, our positions are conservative in nature. Our positions are supportive of the protection of investors. CommunityLeader recognizes the paramount task of the funding portal is to assist in the prevention of securities fraud.”
“We believe based on the underlying intent of the legislation, these rules should be framed around existing code with specific modifications or exemptions for Crowdfunding,” explains Joseph Barisonzi, CommunityLeader’s CEO. “Getting to market quickly and protecting both the businesses seeking capital and the unaccredited investors are equally as important.”
This is the second whitepaper that Barisonzi and Weintraub co-authored. Their previous collaboration titled, “Why It’s Important to Start Preparing for the Crowd Now,” was directed at business owners. This whitepaper is directed more towards the professional players who want to provide Crowdfunding products and services. The intent of their synopsis is to address many of the critical issues which should be clarified to support the safe and effective deployment of Crowdfunding, and more importantly its sustainability.
“There are dozens of companies and organizations jockeying for positioning in this emerging space as funding portals and hundreds more as providers of legal, accounting, valuation and marketing services,” states Scott Bachman, CommunityLeader’s chief marketing officer. “At the end of the day, the companies that take the high road now with the goal of protecting their clients and the investors by following prudent protocol will be the industry leaders. We are looking to give our partners that kind of edge over their competition.”
In preparation of the launch of Crowdfunding as a funding portal and qualified intermediary, CommunityLeader has built a team of experienced professionals, including a Chief Compliance Officer, who are currently deeply engaged in building a compliant, yet user-friendly, platform for both businesses and the individual investors in this emerging market. One of CommunityLeader’s goals has been to ensure that it can effectively manage all of the requirements and challenges pertaining to regulatory compliance, thereby attracting best of class partners whom can help service the thousands of businesses and hundreds of thousands of potential investors. “In the end, the Crowdfunding rules and regulations need to be clear, simple and fair so they are adopted quickly by the businesses seeking capital, investors looking for an opportunity and the companies servicing them,” continues Bachman.
You can read CommunityLeader’s original letter to the SEC and download this and other CommunityLeader’s whitepapers at: http://communityleader.com/whitepapers.
LEARN MORE ABOUT THE LAW. On August 12, 2012 at 11:00 AM PST (2:00 PM EST), Michael Hutchison, of Credibility LIVE, will host a Webcast titled: Crowdfunding for Professionals: There are many compliant ways to capture market share now.
During this special CommunityLeader LIVE event, you will be able to ask special guest Rick Weintraub, your own questions using the chat widget on the CommunityLeader LIVE page. There is lots of talk about what Crowdfunding could and should be surrounding the controversial JOBS Act and how you can expand your practice by understanding a little more about Crowdfunding.
If you would like to participate at the complimentary event register at: http://live.communityleader.com/for-professionals.