The event demonstrated to regulators, policymakers and other key stakeholders in D.C. that the industry pioneers did exactly what we thought and created new financial technologies to help standardize...
Washington, D.C. (PRWEB) May 17, 2016
Crowdfund Intermediary Regulatory Advocates (CFIRA), a non-profit 501(c)6 that helped establish the final rules for Title III and Title IV of the JOBS Act and draft the first Standards and Best Practices Guidelines for the equity and debt crowdfunding industry, yesterday hosted the Crowdfunding Technology Showcase and Celebration, in partnership with Small Business & Entrepreneurship Council (SBE Council) and Crowdfunding Capital Advisors (CCA). The event, held on May 16, 2016 in the U.S. Capitol Visitor Center, was a way to celebrate the official go-live of Title III of the JOBS Act. The event highlighted innovative crowdfunding technologies that are creating the ecosystem to establish a cohesive network for transparency, due diligence, investor protections, the opportunity to expand access to equity and credit through the buying and selling of securities from emerging enterprises through registered funding platforms and broker dealers and will ultimately provide the secondary market.
This cutting edge event also recognized the important day by honoring a wide range of stakeholders who played a role in getting final rules in place for Title III. This included policymakers and representatives from both the Senate and House of Representatives, regulators including the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA), equity and debt crowdfunding industry participants, entrepreneurs, third party service providers and other thought leaders and influencers who have helped make the democratization of capital a reality.
“We were thrilled to partner with CCA and SBE Council to host the Crowdfunding Technology Showcase and Celebration and show our appreciation for all of the people that really made this day happen,” said Chris Tyrrell, the chairman of CFIRA and founder of OfferBoard, a broker-dealer and investment bank. “This day marks the incredible advances the crowdfunding industry has made in the past four years.”
The inaugural “New Capital Markets Leadership Award” was given to individuals that contributed leadership in the development of the new capital markets under the JOBS Act, awarded by CFIRA, SBE Council and CCA.
The award recipients included:
- Doug Rand (Administration)
- Andy Green (Legislative)
- Rep. Darrell Issa (Legislative)
- Rep. Jared Polis (Legislative)
- Rep. Patrick McHenry (Legislative)
- Rep. Carolyn Maloney: Legislative)
- Kunal Pahwa (Legislative)
- Sen. Jeff Merkley (Legislative)
- Sen. Michael Bennet (Legislative)
- Amy Cortese (Media)
- Andrew Dix (Media)
- Angus Loten (Media)
- Devin Thorpe (Media)
- Lona Nallengara (Regulatory)
- David Blass (Regulatory)
- Commissioner Gallagher (Regulatory)
- Sebastian Gomez Abero (Regulatory)
- Doug Ellenoff (Legal)
- David "DJ" Paul (CFIRA, Co-Chairman)
- Karen Kerrigan (SBE Council, President)
"After four years of working alongside the SEC, FINRA, Senate, Congress and other regulatory officials, the journey to a more transparent market and capital formation is only beginning,” said Kim Wales, founder of CrowdBureau®, a provider of financial information and risk management solutions and Executive Board Member of CFIRA. “I am looking forward to help nurture Crowdfunding 2.0.”
Throughout the D.C. Demo Day, attendees had the opportunity to hear from industry leaders through a panel session, keynote address and a number of technology demonstrations, followed by a more personal networking and celebratory reception.
CCA principal Sherwood Neiss said “The event demonstrated to regulators, policymakers and other key stakeholders in D.C. that the industry pioneers did exactly what we thought and created new financial technologies to help standardize, bring transparency to the private capital markets, facilitate capital formation, established best practices for a compliant equity and debt crowdfunding industry.”
To arrange an interview with a CFIRA board member about the implications of the new regulatory environment for crowdfunding or the New Capital Markets Leadership Award, please contact marilyn(at)leverage-pr(dot)com.
About Crowdfund Intermediary Regulatory Advocates (CFIRA)
Crowdfund Intermediary Regulatory Advocates (CFIRA) was established following the signing of the Jumpstart Our Business Startups (JOBS) Act and formed by the crowdfunding industry’s leading platforms, experts and supporters. The group works with the Securities & Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), and other affected governmental and quasi-governmental entities to help establish industry standards and best practices. For more information, visit http://www.CFIRA.org.
About Crowdfund Capital Advisors (CCA)
Crowdfund Capital Advisors is a global crowdfunding consulting and advisory firm founded by Jason Best and Sherwood Neiss, the leaders of the debt and equity crowdfunding movement. Best and Neiss created the proposed regulatory framework that became the crowdfunding language in the USA JOBS Act. CCA provides comprehensive advisory and investment solutions for both the public and private sector to 1) create balanced crowdfunding legislation/regulation with governments and regulators 2) advise innovators as they build the global fintech infrastructure required for the new private capital markets 3) invest in companies building that global fintech infrastructure. CCA has worked in 37 countries with professional investors, crowdfunding platforms and ecosystem services, financial institutions, governments and regulators. CCA is the author of the World Bank Report, Crowdfunding’s Potential for the Developing World, the top selling Amazon book on Investment based crowdfunding and creators of the online education series Crowdfunomics and Success with Crowdfunding. For more information, please visit: http://www.crowdfundcapitaladvisors.com.
About Small Business & Entrepreneurship Council
The Small Business & Entrepreneurship Council (SBE Council) is a nonprofit, nonpartisan organization dedicated to protecting small business and promoting entrepreneurship. SBE Council focuses on strengthening the ecosystem related to policy, educational and training content, access to capital and economic opportunity. For nearly twenty-four years, SBE Council has helped to advance policies and a broad range of initiatives for small businesses and entrepreneurs both in the U.S. and across the world. For more information, visit: http://www.sbecouncil.org.