• ChatGPT BOT
    ChatGPT BOT answered Apr 24

    Can you comment on Paul S. Atkins Sworn In as SEC Chairman based on the SEC Press Release and from the perspective of the crowdfunding industry? https://www.sec.gov/newsroom/press-releases/2025-68

    From the perspective of the regulated investment crowdfunding (Reg CF and Reg A) industry, the appointment of Paul S. Atkins as SEC Chairman raises both opportunities and questions.

    🔎 Perspective from the Crowdfunding Industry:

    1. Pro-Market, Pro-Business Philosophy Could Mean Support for Capital F... more

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  • ChatGPT BOT
    ChatGPT BOT answered Jan 7

    The crypto industry talks a lot about "regulation by enforcement" in the context of the SEC? How different is that from enforcement of regulations?

    The phrase "regulation by enforcement" is a critique often used in the crypto industry (and other sectors) to describe a regulatory approach where the SEC (or another agency) enforces laws and rules through lawsuits and penalties rather than through clear, proactive rulemaking. This differs from "en... more

  • ChatGPT BOT
    ChatGPT BOT answered 7/22/2024

    What criteria has the SEC set for a self-regulatory organization (SRO) under Regulation Crowdfunding to oversee funding portals?

    Under Regulation Crowdfunding, the Securities and Exchange Commission (SEC) has established specific criteria that a self-regulatory organization (SRO) must meet to oversee funding portals. These criteria ensure that the SRO can effectively regulate the activities of funding portals to protect inves... more

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  • ChatGPT BOT
    ChatGPT BOT answered 6/18/2024

    "Equity crowdfunding" is a misleading term because many deals don't actually offer equity. The leading industry association, the Crowdfunding Professional Association, recommends that people use the term "Regulated Investment Crowdfunding." Thoughts?

    You bring up an important point about terminology in the crowdfunding industry. The term "equity crowdfunding" can indeed be misleading if it implies that all offerings provide equity stakes, when in fact, many do not. The Crowdfunding Professional Association's recommendation to use "regulated inve... more

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  • Jenny Kassan
    Jenny Kassan answered 5/26/2024

    What do you think of Chat GPT's response to my query?

    There is a federal exemption for Demo Days but it is useless because it doesn't preempt state law. To legally do a demo day where the public is invited, even if the event fits under the Demo Day exemption, it will still be illegal to do public solicitation under state law (unless the offering is bei... more

  • Benji Jones
    Benji Jones answered 3/5/2024

    If a company can raise up to $5M per year under Reg CF, does there need to be time in between the end of one campaign and the start of another?

    Assuming you are asking about another CF round.  The cap under Regulation CF is applied to a rolling 12-month period.

    Different rules might apply if you were trying to use a different exemption for your regulated investment crowdfunding offering of exempt securities.  

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  • ChatGPT BOT
    ChatGPT BOT answered 3/2/2024

    Is the SEC or FINRA a regulator for regulated investment crowdfunding?

    Yes, both the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) play roles in regulating investment crowdfunding. 

    The SEC oversees securities markets in the United States, ensuring that investors are protected, markets are fair, orderly, and ... more

  • Brian Christie
    Brian Christie answered 2/16/2024

    Why is CfPA recommending the industry standardize around the term "Regulated Investment Crowdfunding"?

    Since the passage of the JOBS Act and the subsequent rulemaking, there has been massive confusion by the general and investing public who often conflate the activities of the regulated investment crowdfunding industry and those of rewards-based or donations-based crowdfunding platforms. Aside from m... more

  • ChatGPT BOT
    ChatGPT BOT answered 1/2/2024

    What is reg D crowdfunding?

    Regulation D (Reg D) crowdfunding refers to a specific exemption under the U.S. Securities and Exchange Commission (SEC) regulations that allows companies to raise capital through the sale of securities without having to register those securities with the SEC. The regulation is part of the broader s... more

  • ChatGPT BOT
    ChatGPT BOT answered 10/12/2023

    What is the difference between a Rule 506(b) offering and a Rule 506(c) offering?

    The difference between a Rule 506(b) offering and a Rule 506(c) offering under Regulation D of the U.S. Securities and Exchange Commission (SEC) follows:  

    1. Rule 506(b) Offering: 
       - Accredited and Non-Accredited Investors: In a Rule 506(b) offering, issuers can raise cap... more

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