Last updated: September 27, 2026
The Crowdfunding Professional Association (CfPA) is a 501(c)(6) nonprofit trade association established shortly after the signing of the JOBS Act on April 5, 2012, dedicated to fostering the growth of the Regulated Investment Crowdfunding economy and supporting the SEC and FINRA in rulemaking, education, and investor protection. Below is a running timeline of CfPA initiatives, advocacy, events, and milestones since Regulation Crowdfunding went live in 2016, in reverse chronological order. (For the association's founding era, see the 2012 - 2016 summary at the end of this page.)
2026 Executive Leadership
Brian Belley, President · Jenny Kassan, Chair
Executive Committee: Jenny Kassan, Brian Belley, Brian Christie, Devin Thorpe, Scott McIntyre, Andrew Stephenson, Jason Fishman
Milestones & Major Activities
Oct 20-21, 2026 (upcoming) -- Third Annual Regulated Investment Crowdfunding Summit, Washington, DC. "Investor Outcomes and Crowdfunding in an Era of AI," at the National Union Building: Day 1 Capitol Hill and regulator advocacy visits; Day 2 full conference program including a FINRA session and industry awards. (Source: https://bsy.is/GSLRu)
September 23, 2026 - CfPA Announces New Policy Plank: Crowdfunding Professional Association Adopts “Presumptive Parity” as Policy
September 3, 2026 - CfPA Board Members Andrew Stephenson and Gregory Burke speak at Practicing Law Institute 12th Annual Alternative Finance Summit: Fintech, Blockchain, and Crowdfunding
Aug 25-27, 2026 -- CfPA sponsors SuperCrowd26. CfPA was an Impact Sponsor of SuperCrowd26 featuring PurposeBuilt100, the annual impact-crowdfunding convening produced by The Super Crowd, Inc. (a public benefit corporation led by CfPA past president Devin Thorpe), streamed globally on connected-TV platforms; CfPA officers and board members appeared throughout the speaker roster. (Source: https://bsy.is/kdAKF)
Aug 21, 2026 -- SEC's proposed Regulation Crypto Assets cites CfPA ten times. The SEC's proposed tailored offering framework for certain crypto asset investment contracts was published in the Federal Register with comments due October 20, 2026. The proposing release cites CfPA ten times, drawing on the association's June 2025 submission to the Crypto Task Force; CfPA is the only trade association representing Regulated Investment Crowdfunding cited in the release, and the Commission modeled elements of the exemption on Regulation A and Regulation Crowdfunding. (Source: https://bsy.is/fZ6wr)
Aug 17, 2026 -- CfPA issues statement on NetCapital fraud allegations. Following SEC fraud charges against NetCapital, Inc. and certain members of its management team, CfPA publicly addressed the matter, underscoring the association's role in industry integrity and investor protection. (Source: https://bsy.is/KWDkr)
Aug 14, 2026 -- CfPA releases industry best practice on ongoing SEC reporting. CfPA published a Recommended Best Practice encouraging crowdfunding intermediaries to proactively remind funded companies of their annual reporting (Form C-AR) obligations, supporting post-offering compliance across the industry. (Sources: https://bsy.is/nIuIH and https://bsy.is/Wg6Bi)
Jul 27, 2026 -- SEC's Small Business Forum report to Congress references raising the Reg CF limit to $20M. The SEC's report on the 45th Annual Small Business Forum references an increase of the Regulation Crowdfunding limit from $5 million to $20 million, a priority CfPA and its members advanced throughout the forum process. The report also acknowledges CfPA President Brian Belley (CTO, Kingscrowd) as a member of the SEC's Forum Advisory Planning Group. (Source: https://bsy.is/PmLLH)
Jul 1, 2026 -- CfPA comments on the SEC's Draft FY 2026-2030 Strategic Plan. CfPA's comment letter addressed crowdfunding parity with digital assets and an increase of the Reg CF limit to $20 million. Approximately 25% of the unique letters submitted in the docket by CfPA- and member-affiliated companies urged a cap increase. (Source: https://bsy.is/QKf4b)
May 27, 2026 -- CfPA urges the Department of Labor to provide a meaningful fiduciary safe harbor for alternative assets in retirement plans. CfPA filed a public comment on the DOL's proposed rule "Fiduciary Duties in Selecting Designated Investment Alternatives" (RIN 1210-AC38), following commentary by CfPA leadership on the ERISA implications of opening retirement plans to alternatives. (Sources: https://bsy.is/sK93B and https://bsy.is/IorrM)
May 18, 2026 -- On Reg CF's 10th anniversary, CfPA comments on the "Let's Buy Spirit Air" campaign. Following the May 16, 2026 ten-year anniversary of Regulation Crowdfunding becoming available to U.S. issuers and investors, CfPA issued a public statement on the viral community-ownership pledge campaign, noting that America is ready for broader public ownership. (Source: https://bsy.is/Xx9YM)
May 6, 2026 -- CfPA SEC Liaison & Affairs Subcommittee meets with SEC staff at SEC headquarters. Five subcommittee members (Brian Christie, Jenny Kassan, Meighan Leon, Andrew Stephenson, Sara Hanks) met with Commission staff.
Apr 23, 2026 -- CfPA President Brian Belley participates in the SEC’s International Business Forum. Belley represented CfPA at the SEC’s international gathering, continuing the association’s engagement with securities regulators and the broader capital-markets community.
Apr 15, 2026 -- CfPA leaders participate in Investment Crowdfunding Week compliance discussion. At Kingscrowd’s Investment Crowdfunding Week, CfPA President Brian Belley moderated a panel featuring SEC Office of Small Business Policy Chief Jeb Byrne and CfPA leaders Andrew Stephenson, Dr. Greg Burke, and Jason Fishman. The discussion covered post-offering annual reporting, marketing and disclosure requirements, and considerations in choosing between Regulation Crowdfunding and Regulation A. (Source: Kingscrowd session recording and summary.)
Mar 9, 2026 -- CfPA participates in the 45th Annual SEC Small Business Forum. CfPA board members Sara Hanks and Brian Christie attended the SEC forum.
Mar 5, 2026 -- CfPA submits its Policy Platform to the SEC ahead of the 45th Small Business Forum. SEC Liaison and Affairs Subcommittee submitted the CfPA platform in response to the SEC's request for input, and the CfPA board solicited more than a dozen industry letters in advance of the forum.
Mar 4, 2026 -- SEC posts petition for rulemaking to modernize Reg CF and raise the Reg CF limit to $20M. BLPN and BioTech Funding Portal (a CfPA member) submitted petition 4-889 incorporating three planks from CfPA Policy Platform. 4-889 is the first petition for rulemaking acknowledged by the SEC requesting the modernization of Regulated Investment Crowdfunding and an increase of the Regulation Crowdfunding limit to $20 million. (Source: https://bsy.is/OeDNX)
Jan 23, 2026 -- CfPA announces six new board members. CfPA announced the appointment of Dr. Greg Burke, Elizabeth Eichorn, Julian A. Haffner, Danielle Godfrey, Levi Brackman, and Meighan Leon to its Board of Directors, adding experience across academic research, securities law, platform operations, and issuer support. (Source: CfPA announcement.)
2026 (ongoing) -- CfPA Webinar Series. Monthly educational programming, including "Tax Considerations for Reg CF & Reg A Investors: QSBS, K-1s, Losses, and What the Crowd Should Know" (June 2026) and "Side-by-Side Offerings: Can Reg CF Work Alongside Other Capital-Raising Paths?" (Aug 19, 2026). (Source: https://bsy.is/pe9jp)
2025
Leadership: Jenny Kassan, President · Brian Christie and Devin Thorpe, Co-Chairs
Oct 21, 2025 -- Second Annual Regulated Investment Crowdfunding Summit, Washington, DC. CfPA hosted SEC Commissioner Hester Peirce at the Summit (National Union Building); issues addressed included crowdfunding parity with digital assets and increasing the Reg CF limit. Commissioner Peirce's remarks on mirror tokens drew industry press coverage. (Sources: https://bsy.is/vk1Ev, https://bsy.is/9QP2A, and https://bsy.is/i3vUs) and detailed Summit agenda: https://bsy.is/AmFGG
Oct 21, 2025 -- CfPA presents its second annual Industry Awards. At the 2025 Summit, CfPA recognized five honorees: Rocket Launch -- Avadain (Brad Larschan), a graphene technology development and licensing company commercializing the only known process for manufacturing industrial quantities of LTDF graphene for 45+ industries, which raised $1.4M (July 2022), $4.5M (October 2023), and $5M (May 2025) across three Reg CF offerings; Cool Innovator -- Azure Printed Homes (Gene Eidelman), whose patented 3D-printing process turns recycled plastic into sustainable, affordable housing, delivering units for fire victims, the unhoused, and families priced out of traditional housing while securing over $40M in preorders and raising more than $2.3M from over 2,000 crowdfunding investors; Trailblazer -- Mark Elenowitz (Digital Offering, LLC), instrumental in building the framework for Regulation A+ offerings, whose methodology produced the first successful Reg A+ IPO to list on a national securities exchange and who structured the $75 million Newsmax crowd-financed public offering in March 2025, the first Reg A+ to list on the NYSE main board; Pay It Forward -- Paul Lovejoy (Stakeholder Enterprise), who made one investment every day for an entire year and continues to advance the industry through client work, storytelling, and published articles; and Social Impact -- Eve Picker, architect, urban designer, and developer whose platform Small Change opens socially responsible real estate investment to everyday people.
Sep 10, 2025 -- CfPA webinar with the SEC Investor Advocate. "Access to Private Market Investing: a Conversation with the SEC Investor Advocate," part of the 2025 CfPA Webinar Series. (Source: https://bsy.is/MZfMs)
Aug 11, 2025 -- CfPA publicly challenges "Mirror Token" offerings. CfPA issued a critical perspective on the structure of mirror-token products offering retail exposure to private securities, reinforcing the association's investor-protection position. (Source: https://bsy.is/6ETVN)
Jun 13, 2025 -- CfPA comment letter to the SEC Crypto Task Force on digital assets. The letter, addressed to Commissioner Peirce and the Crypto Task Force, argued for crowdfunding parity with digital assets and referenced an increase of the Reg CF cap to $20 million. It was subsequently cited ten times in the SEC's proposed Regulation Crypto Assets release (August 2026). (Source: https://bsy.is/Ly4fO)
Apr 22, 2025 -- CfPA comment letter on crowdfunding for collectible tokens (NFTs). Written input to the SEC's Crypto Task Force, posted April 23, 2025. (Source: https://bsy.is/sAQ9b)
Apr 10, 2025 -- CfPA at the 44th Annual SEC Small Business Capital Formation Forum. CfPA's VP Brian Belley served as a panelist; CfPA board members Sara Hanks and Brian Christie attended in person.
Feb 26, 2025 -- CfPA leaders attend congressional hearing featuring DealMaker CEO Rebecca Kacaba. CfPA board member Rebecca Kacaba testified before the House Financial Services Subcommittee on Capital Markets at its hearing, “The Future of American Capital: Strengthening Public and Private Markets by Increasing Investor Access and Facilitating Capital Formation.” CfPA attendees included Jenny Kassan, Brian Christie, Meighan Leon, and Andrew Stephenson. (Source: Official hearing record)
Jan 28, 2025 -- CfPA advocates for a Reg CF tax exemption (TRUMP Jobs Act). CfPA joined the Coalition for Crowdfunding American Jobs and Prosperity (CCAJP) to establish tax incentives for Regulation Crowdfunding investment -- the Targeting Resources to Unleash Market Prosperity (TRUMP) Jobs Act. (Source: https://bsy.is/u4BOV)
Jan 13, 2025 -- CfPA announces two new board members. CfPA appointed Jie Wang and Craig Denlinger to its Board of Directors, adding expertise in fintech, community banking, crowdfunding accounting, and financial reporting. (Source: CfPA announcement.)
2024
Leadership: Brian Christie, President · Scott McIntyre, Chair
Oct 24, 2024 -- CfPA presents its inaugural Industry Awards. At the close of the 2024 Summit, CfPA announced winners across five categories -- Social Impact (Citizen Portal and Edmondson Village by TREND, tie), Rocket Launch (ClearingBid), Trailblazer (Silicon Prairie), Cool Innovator (EnergyX), and Pay It Forward (Robin Sosnow, Esq.) -- establishing an annual tradition of recognizing excellence in Regulated Investment Crowdfunding. (Source: https://bsy.is/WmQEG)
Oct 22-23, 2024 -- First Annual Regulated Investment Crowdfunding Summit, Washington, DC. CfPA relaunched its flagship annual gathering -- succeeding the original Crowdfinance Summit series that concluded in 2017 -- under a new name reflecting the "Regulated Investment Crowdfunding" terminology the association adopted earlier that year, and a new post-COVID, digital-assets-era agenda. "A Growing Economic Force Powering American Entrepreneurism and Innovation": Day 1 featured advocacy visits to Capitol Hill and regulators followed by a reception at Top of the Town; Day 2's conference program included panels on under-represented founders, capital market technologies, tax incentives, and deal structuring, plus a fireside chat with SEC Commissioner Hester M. Peirce. October also included CfPA meetings with SEC staff on crowdfunding issues including a proposal to move toward a $20M Reg CF limit and $150M Reg A limit. (Sources: https://bsy.is/6QNGX and https://bsy.is/M3B1K)
June 19-20, 2024 -- CfPA represented at The Reg A & Crowdfunding Conference. CfPA President Brian Christie joined the speaker roster at DealFlow Events' Reg A & Crowdfunding Conference, held at Westchester Country Club in Rye, NY, alongside leaders from across the exempt-offering ecosystem, part of CfPA's ongoing presence at major industry gatherings. CfPA Board members Brian Belley and Jason Fishman also in attendance. (Source: https://bsy.is/41gr0)
May 20, 2024 -- CfPA board approves the association's first official Policy Platform. The platform contains eighteen recommendations for the Regulated Investment Crowdfunding industry, including an increase of the Regulation Crowdfunding limit to $20 million. (Sources: https://bsy.is/8mv3I and https://bsy.is/I37b8)
Feb 19, 2024 -- CfPA adopts "Regulated Investment Crowdfunding" as the preferred industry term. A Recommended Best Practice establishing clear and consistent umbrella terminology for securities-based crowdfunding under Reg CF, Reg A, and related exemptions. (Sources: https://bsy.is/qJ9MJ and https://bsy.is/1IGAj)
Jan 4, 2024 -- CfPA announces board additions. New directors included Andrew Connor (Center for Community Ownership) and Andrew Stephenson (CrowdCheck), among others. (Sources: https://bsy.is/bt5Uw and https://bsy.is/xVSHF)
2023
Leadership: Devin Thorpe, President · Scott McIntyre, Chair
Feb 8, 2023 -- CfPA webinar: "Cryptocurrency vs Regulated Investment Crowdfunding." An expert panel exploring the intersection of digital assets and Regulated Investment Crowdfunding. (Source: https://bsy.is/EIWt9)
Jan 20, 2023 -- CfPA announces board additions and an updated strategic plan. New directors included Rebecca Kacaba (DealMaker), Etan Butler (Dalmore), and Andrew Savikas, alongside an updated strategic plan focused on industry growth. (Sources: https://bsy.is/6MnV6 and https://bsy.is/4iOg0)
2023 (series) -- CfPA leaders begin annual participation in the SuperCrowd conference series. SuperCrowd23 launched the annual virtual impact-crowdfunding convening produced by The Super Crowd, Inc., founded by CfPA past president Devin Thorpe, with annual editions each year since (SuperCrowd24, SuperCrowd25, SuperCrowd26) plus regional gatherings including SuperCrowdUtah (2023), SuperCrowdBaltimore and SuperCrowdChicago (2024), and SuperCrowdLosAngeles (2025). CfPA officers and board members have been featured speakers throughout the series, and CfPA joined as a sponsor of later editions -- a recurring channel for the association's investor-education mission. [CONFIRM: SuperCrowd23 dates] (Source: https://bsy.is/NeYMg)
2022
2022 -- CfPA formalizes a new leadership succession rotation. The board established a structured annual officer rotation for the organization, creating the predictable leadership pipeline reflected in each year since (see Leadership History below).
Late 2022 -- CfPA restates its mission. The board restated the association's mission: to foster the growth of the Regulated Investment Crowdfunding economy by supporting issuers and investors and working with intermediaries, portal operators, and other crowdfunding professionals, while advocating with regulators and legislators.
Nov 15, 2022 -- CfPA announces newly elected officers for 2023. (Source: https://bsy.is/yraTi)
Apr 5, 2022 -- Ten-year anniversary of the JOBS Act. A decade after the Act's signing, the framework CfPA's founders helped shape had grown into an established capital-formation channel for thousands of small and emerging companies. [ADD: CfPA retrospective activities or statements marking the anniversary]
Feb 1, 2022 -- CfPA urges SEC action and regulatory clarity on NFTs. CfPA submitted a letter to the SEC raising concerns that certain NFTs appeared to be offered as unregistered securities and recommending regulatory guidance on NFTs and platforms facilitating their sale and trading. (Source: CfPA letter to the SEC regarding NFTs.)
2021
May 2021 -- CfPA Virtual CrowdInvest Summit. A virtual gathering of crowdfunding experts, entrepreneurs, software innovators, investors, and regulators covering investing trends, SPVs, and industry data in the first year of the expanded Reg CF framework. (Source: https://bsy.is/73fPT)
Mar 15, 2021 -- Amended Regulation Crowdfunding takes effect: offering cap raised to $5 million. The SEC's exempt-offering harmonization amendments became effective, raising the Reg CF limit from $1.07M to $5M, removing investment limits for accredited investors, and permitting testing-the-waters and crowdfunding vehicles -- reforms CfPA advocated for throughout the rulemaking. (Source: https://bsy.is/CiYOP)
Jan 28, 2021 -- CfPA urges Biden Administration to preserve expanded crowdfunding limits. CfPA asked the Administration to allow SEC reforms increasing the Reg CF offering limit to $5 million and Regulation A Tier 2 limit to $75 million to take effect as scheduled. (Source: CfPA Letter to Biden Administration on Crowdfunding Limit Updates.)
2020
Nov 16, 2020 -- CfPA announces the SEC's adoption of amendments to Regulation Crowdfunding. Following the Commission's November 2, 2020 adoption of the harmonization amendments (including the $5M cap), CfPA communicated the changes to the industry. (Source: Press Release)
August 2020 -- CfPA's ECO platform becomes the Crowdfunding Ecosystem. The association's Expert Community Online moved to crowdfundingecosystem.com, CfPA's public community, knowledge, and directory platform, powered by Brainsy, Inc.
May 22, 2020 -- CfPA comment letter on the SEC's exempt-offering harmonization proposal (S7-05-20). CfPA voiced support for the SEC's goal to simplify, harmonize, and improve the exempt offering framework, including support for generic solicitations of interest under proposed Rule 241. (Source: https://bsy.is/uYNsj)
2019
Oct 15, 2019 -- CfPA comment letter on the SEC's Concept Release on Harmonization of Securities Offering Exemptions (S7-08-19): modernizing the accredited investor definition. CfPA's Legislative & Regulatory Affairs Division proposed a three-pronged expansion of accredited investor status -- retaining the financial threshold while adding qualification by professional degree or certification (including FINRA Series 7, 65, 66, or 82 licenses) and by a standardized sophistication examination, with CfPA offering to serve as a certifying body. The SEC's August 2020 accredited investor amendments subsequently added professional-license categories consistent with the letter's recommendation. Signatories included Laura Anthony (Anthony L.G.), Sara Hanks (CrowdCheck Law), Robin Sosnow (Sosnow & Associates), and Dan Zinn and Cass Sanford (OTC Markets Group). (Source: https://bsy.is/QVUkA)
Feb 26, 2019 -- CfPA and OTC Markets Group host regulatory-policy forum in New York. "Washington Regulatory Updates on Crowdfunding and Related Markets" examined proposed federal regulatory and rulemaking developments affecting crowdfunding, alternative finance, and small public companies. (Source: CfPA, Washington Regulatory Updates on Crowdfunding and Related Markets.)
2018
Jan 16, 2018 -- CfPA rebrands its knowledge-sharing platform as the Crowdfunding and Blockchain Expert Community Online (ECO). Announced at the Digital Asset Investment Forum 2018 in New York City, the expansion brought blockchain, ICO/token experts, and service providers into the association's expert community -- an early bridge between Regulated Investment Crowdfunding and digital assets. (Sources: https://bsy.is/HrgxX and https://bsy.is/LVOOE)
2017
Nov 16, 2017 -- CfPA hosts "The State of Crowdfinance" at Fordham University. The public education forum covered crowdfunding, early-stage capital formation, Regulation A+, blockchain, cryptocurrencies, ICOs, and tokens, continuing CfPA's educational programming following the final Crowdfinance Summit earlier that year. (Source: CfPA, The State of Crowdfinance.)
Jul 18, 2017 -- Jason Paltrowitz, Executive VP at OTC Markets Group, joins the CfPA board. A signal of the association's growing connection to public-market infrastructure. (Source: https://bsy.is/wbTxg)
Apr 20, 2017 -- CfPA launches the Crowdfunding Expert Community Online (ECO) platform; final Crowdfinance Summit of the original series. Announced by CfPA President Scott McIntyre, the knowledge-sharing platform connected crowdfunding professionals with entrepreneurs, investors, and others seeking experienced guidance, and let members self-designate expertise across categories from funding portals and impact investing to law, real estate, and regulations. The platform was provided by Brainsy, whose CEO Brian Christie announced the partnership alongside McIntyre. Launch experts included Jordan Fishfeld (CFX Markets), Darren Marble (CrowdfundX), Richard Swart, PhD, Alon Hillel-Tuch (Dreamit Ventures), and Xiaochen Zhang (FinTech4Good). ECO debuted in conjunction with CfPA's 4th Annual Crowdfinance Summit in greater Washington, DC -- the concluding edition of the original Crowdfinance Summit series (2013-2017); the association's flagship annual gathering returned in 2024 as the Regulated Investment Crowdfunding Summit. ECO is the foundation of today's crowdfundingecosystem.com. (Sources: https://bsy.is/b2w6i and https://bsy.is/3kKI1)
2016
Jun 7, 2016 -- CfPA Legislative & Regulatory Special Counsel Sam Guzik supports reforms to Title III. Guzik submitted a letter to House Financial Services Committee leadership supporting H.R. 4855, the Fix Crowdfunding Act, and recommending additional reforms to Regulation Crowdfunding. (Source: Guzik letter supporting H.R. 4855.)
May 16, 2016 -- Regulation Crowdfunding becomes effective. Title III of the JOBS Act went live: the first funding portals registered with FINRA and the first Reg CF offerings launched, opening securities-baseSource: CfPA press release and information archive.)d crowdfunding to all U.S. investors. CfPA's founding purpose -- supporting the SEC and FINRA through the rulemaking that produced this framework -- was realized. (Source: https://bsy.is/VJxLW)
Leadership History
|
Year |
President |
Chair / Co-Chair |
|---|---|---|
|
2027 |
Jason Fishman (incoming) |
Brian Belley (incoming) |
|
2026 |
Brian Belley |
Jenny Kassan |
|
2025 |
Jenny Kassan |
Brian Christie, Devin Thorpe |
|
2024 |
Brian Christie |
Scott McIntyre |
|
2023 |
Devin Thorpe |
Scott McIntyre |
|
2016-2022 |
Samson Williams, Scott McIntyre |
Scott McIntyre |
For the latest roster of the Board of Directors, see https://cfpa.org/about/#board
Honoring the Founding Visionaries (2012-2016)
The Crowdfunding Professional Association owes its existence to a group of trailblazers dedicated to the democratizing of capital access and the broadening of investment horizons for the general public. We are honored to acknowledge those founding members whose foresight, guidance, and collective action established the groundwork for today's Regulated Investment Crowdfunding landscape. (Source: https://bsy.is/So9nt)
The Founding Years: 2012 - 2016
The Crowdfunding Professional Association was established as a 501(c)(6) nonprofit trade organization shortly after President Obama signed the JOBS Act on April 5, 2012, founded by authors of and contributors to the Act itself. During the four-year rulemaking period that followed, CfPA helped build the educational, professional, and policy infrastructure around the emerging crowdfunding industry while the SEC and FINRA translated the Act into workable rules. The association publicly welcomed the SEC's 2013 approval of Title II general solicitation (CfPA announcement), while its representatives engaged directly with the SEC's Division of Corporation Finance, including a March 26, 2014 meeting regarding the proposed crowdfunding rules (memorandum in SEC comment file S7-09-13: SEC comment file).
CfPA early efforts focused on education and market preparation. The organization's all-volunteer board and committees met monthly in order to continue building awareness, and to grow its board, committees, education programs, and national convenings. CfPA annual summits brought together entrepreneurs, investors, platforms, attorneys, regulators, policymakers, and other stakeholders while the industry was still taking shape.
In 2013, it launched a crowdfunding education initiative to prepare entrepreneurs and investors for the implementation of Titles II and III, while providing regulatory updates, educational resources, and emerging industry best practices. CfPA also submitted substantive comments on the SEC's proposed Title III rules and participated in ongoing dialogue with regulators and policymakers, including representation at the SEC Government-Business Forum on Small Business Capital Formation. These efforts complemented the association's broader role in helping regulators understand the participants, business models, operational challenges, and educational needs of the emerging industry.
The association's first and second annual Crowdfinance Summits in 2013 and 2014 established a recurring forum for education, policy discussion, networking, and industry development. The organization's leadership through the formative years included founding member and multiple-term President and Chair Scott McIntyre; Brian Korn, partner and leader of Manatt, Phelps & Phillips fintech practice; Joseph Bartlett; academic, advisor, and AltFin strategist, Richard Swart, PhD. CfPA leaders would ultimately carry the association's message to tens of thousands of entrepreneurs, investors, policymakers, and governments on five continents.
The association's work during this period was not limited to advocacy for particular rules. CfPA helped establish crowdfunding as a professional field, creating a common community through which participants could exchange information, develop practices, engage policymakers, and prepare prospective investors and entrepreneurs for the new securities-based marketplace. Its conferences, educational programming, public communications, and member activities helped prepare the market for Regulation Crowdfunding before the rules became operational.
The transition from rulemaking to implementation was marked by the SEC's adoption of final Regulation Crowdfunding rules on October 30, 2015. Weeks later, CfPA held its 3rd Annual Crowdfinance Summit on December 2, 2015, in Washington, DC, under President Sam Guzik, with Congressman Patrick McHenry, a principal architect of the JOBS Act, delivering the keynote (Crowdfund Insider). The timing captured the transition from four years of advocacy, education, industry development, and regulatory engagement into implementation of the new Regulation Crowdfunding marketplace.
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