On Monday 4/9 at 12pm EST, Crowdsourcing.org is hosting a live chat with their leadership group about establishing standard principals and regulatory framework in the crowdfunding industry.
Crowdsourcing.org sent the release below to SoMoLend and we would like to invite everyone interested to participate in this awesome opportunity!
Chat live with the leadership group behind the initiative to define a regulatory framework for the crowdfunding industry.
As President Obama signs the JOBS Act into law at 2pm EST on April 5, 2012, a leadership group consisting of equity and debt crowdfunding platforms and industry experts including legal, securities and SEC experts, have mobilized to explore the development of a self-regulatory framework for the crowdfunding industry. The JOBS Act requires that all equity and debt crowdfunding platforms be a member of a national securities association. This leadership group will explore the various paths to meet that requirement in ways that protect investors and support a vibrant industry.
Chat live on Crowdsourcing.org with representatives from this group at 12pm EST/9am PST on Monday 9 April to ask questions and offer input regarding key elements of the framework including principals that will:
- Establish strong protections for investors in the form of an Investor’s Bill of Rights, including tests to assess investors understanding of risk, criminal background checks on issuers, and adequate disclosures by issuers;
- Ensure confidentiality of investors’ personal financial information;
- Ensure that investors do not exceed statutory investment limits, by implementing standardized reporting and communication among platforms;
- Establish standard communication processes for transparent flow of information between the issuer, the investor, the intermediary and the regulatory agency;
- Develop a code of conduct for crowdfunding platforms, with enforcement mechanisms to punish bad actors;
- Create a recognizable brand common to trustworthy intermediaries.
If you would like to participate, email Carl Esposti at email@example.com with your name, company, and title so that they can include your information in the announcement.