Voices of the Community

Pierce Leonard
Pierce Leonard @PierceLeonard published: 4/12/2026 11:05:44 PM

One Year After the SEC Capital Markets Subcommittee Hearing: Investor Protection Is Still the Missing Piece

A little over a year ago I sat through the SEC Capital Markets Subcommittee hearing on Regulation Crowdfunding (Reg CF) and Regulation A+. I walked away with mixed feelings. The advocates pushing to e ...more

Why would an issuer need insurance for a crowdfunding raise?

Bottom line: D&O for capital raises already exists. TigerMark is right-sized coverage at the right price for crowdfunding issuers.

Anytime a company raises outside capital and offers a security, the board or investors typically require D&O insurance. This isn't new. VC-ba...

At what stage of a raise is it too late to put proper D&O coverage in place without creating gaps?

Short answer: It's never too late, as long as no claim has already been filed.

D&O policies are claims-made, meaning they respond to claims made during the policy period regardless of when the underlying decision happened. TigerMark can backdate the retroactive date to match ...

Why did you get interested in crowdfunding?

I wanted to make a productive investment.

There are 2 types of investing, speculative and productive. When I looked at my retirement account 10 years ago, it was largely index funds and ETFs full of very big corporations like Apple. I realized I wasn't funding Apple or any of the...

The First 10 Days Decide the Ceiling of Your Raise

About half of all Reg CF campaigns raise roughly $115,000. That number barely covers a month of burn for most startups. Meanwhile, the top 10% of issuers pull in the vast majority of investment dollar ...more

6 Landmark Square Suite 403 Stamford, CT 06901

ClearingBid is the world’s first and only IPO network. ClearingBid opens IPO investing for all, drives true market-based pricing, assures equitable allocations, and creates economic value for companies, investors and ... more>

National Union Building
918 F St NW
Washington, DC 20004

CfPA 2025 Regulated Investment Crowdfunding Summit – The Future of Crowdfunding is Now!

Join industry leaders, policymakers, and innovators at the CfPA 2025 Regulated Investment Crowdfunding Summit—the premier event for ... more>

712 H Street NE Suite 2127 Washington, DC 20002
Board of Directors

The Crowdfunding Professional Association (CfPA) is a 501 (c)(6) nonprofit trade group that was established shortly after the signing of the Jumpstart Our Business Startup Act ("JOBS Act") on April ... more>

c/o CfPA
712 H Street NE Suite 2127
Washington, DC 20002

Coalition for Crowdfunding American Jobs and Prosperity (CCAJP)

Background

The passage of the bipartisan JOBS Act ushered in Regulation Crowdfunding (Reg CF) and since May of 2016, over 8,500 companies ... more>

7315 Wisconsin Ave. Ste 400W Bethesda, MD 20814

Brainsy offers patented Software as a Service (SaaS) to power knowledge sharing networks for issuers, private companies, trade associations, professional societies, membership organizations, and media companies. Deploying a Brainsy powered ... more>

2025 Regulated Investment Crowdfunding Summit

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