Tampa, FL (PRWEB) March 10, 2014
JOBS Act expert and crowdfunding attorney Kendall Almerico submitted a public comment to the Securities Exchange Commission suggesting that the proposed Regulation A+ rules from the JOBS Act be implemented without much change.
"Regulation A+ is a great fit for most small and emerging businesses," JOBS Act expert Almerico says. " In fact, it could be a game-changer for the way small businesses are funded. But not if the SEC makes it too expensive and burdensome to implement."
Almerico notes that Regulation A was an attempt by Congress to fix Regulation A, a little-used provision of federal law that permitted new and emerging companies to raise up to $5 million in a public offering. Almerico says Regulation A is rarely used because it requires a company to register their public offering in every state where it is offered, and the cost of complying with every state’s “Blue Sky Law” makes Regulation A unattractive, given that more commonly used laws such as Regulation D allow a business to raise the same amount of money and not have to deal with 50 different state regulators and expensive state-by-state compliance. But in the JOBS Act, Congress lifted the requirement of state by state registration, making Regulation A+ a viable means to raise capital for small businesses.
Almerico states that the public comment period for Regulation A+ ends on March 24, 2014. "You can read my comment to the SEC on Regulation A+ here, in which I ask the commission to pass the rules without requiring state compliance and allowing the general public to purchase stock in these offerings," Almerico says. "But people in the general public also need to write to the SEC an implore them to not change the rules."
Almerico suggests that the general public write to the SEC at this online link and tell the SEC to keep the proposed rules intact as to not requiring state-by-state registration and by allowing the general public to purchase Regulation A+ issued stock, not just rich and connected investors.
About Kendall Almerico
Kendall Almerico is a crowdfunding attorney and JOBS Act attorney with who is considered one of the top crowdfunding experts and influencers in the United States. In 2014, Mr. Almerico was named #17 on VentureBeat's Top 30 most influential leaders in the crowdfunding industry. Mr. Almerico and his crowdfunding websites have appeared in USA Today, Forbes, Washington Post, Washington Times, Huffington Post, the New York Daily News, Business Insider, Fox Business Network and hundreds of newspaper, blog, radio and television interviews including CNN, CBS, ABC, NBC, FOX and The Sean Hannity Show.
Mr. Almerico is CEO of Fund Hub (http://www.FundHub.Biz) a web site created by securities lawyers to provide compliance and due diligence services for broker-dealers, issuers, investors and equity crowdfunding portals in connection with Regulation D offerings, JOBS Act offerings and other securities offerings.
Mr. Almerico is also the CEO of ClickStartMe, a crowdfunding site that provides individuals and businesses with an easy-to-use website to raise funds through online crowd funding.
Mr. Almerico is also the founder of Crowd It Forward, a charity-based crowdfunding site that performs “Random Acts of Crowdfunding” and raises money for people in need through a 501(c)(3) charitable foundation.
Fund Hub (http://www.FundHub.Biz) provides compliance and due diligence services for broker-dealers, issuers, investors and equity crowdfunding portals in connection with Regulation D offerings, JOBS Act offerings and other securities offerings. Fund Hub combines securities industry expertise with state-of-the-art digital tools to affordably provide compliance services and assistance to those raising capital or investing in businesses. Fund Hub fills a significant need in the securities and private financing industry by allowing broker-dealers, investors and issuers to have an economical alternative to compliance service provided by traditional law firms or online companies without the securities industry expertise required for effective SEC compliance.
Kendall Almerico is available for interviews. Contact him at Media(at)FundHub(dot)Biz or call 813.410.4658.