SEC Public Comments on Equity Crowdfunding
The SEC allows the public to comment on regulatory initiatives on the SEC.gov website for equity crowdfunding and other initiatives. The system works well, the public has generously provided plenty of positive feedback and creative ideas to get equity crowdfunding off the ground. It is unclear as to if any of the comments actually get taken seriously, but many of the comments and ideas seem to be right on track, and guiding the SEC to make the best possible decisions when it comes to equity crowdfunding.
With the progress of the SEC a tad slow, there of course brings quite a few folks that find it necessary to provide less the positive and mostly negative comments to the SEC on their progress with implementing the JOBS act regulatory initiatives.
Top 5 “interesting” comments on SEC.gov regulatory initiatives:
1.) Robert Hoskins, Vice President, Media Relations, Front Page Public Relations gives the SEC an ultimatum. The letter is unclear of where the 27+ million pieces of correspondence are going, but doubtful the SEC would want to take the chance when it comes to equity crowdfunding progress.
America needs your help. Please don’t let us down. On March 11th here is where we plan to direct 27+ million pieces of correspondence via a press release…The SEC could avoid this deluge of correspondence by issuing an apology for not meeting the legal deadlines and by issuing a firm deadline for Title II and Title Ill Crowdfunding Guidelines.
2.) Michael Black from Brooklyn New York comments on the situation bluntly, and maybe a tad inappropriately for a government website.
Get off your asses and approve crowdfunding for equity
3.) Paul Tomkinson in September 2012 posted an article from VentureBeat, and then further goes on to comment on equity crowdfunding and the SEC. His comments really make one think. What is actually going on at the SEC that isn’t working.
The president gets it. Congress gets it. The American people get it. Can’t the SEC get it?
4.) Paul W Richter of Richmond Virginia in February 2013 lets the public know of the sad reality of Americans going oversees to receive startup funding.
As a corporate and securities lawyer since 1987, I have watched in dismay as federal regulation and legislation have strangled the flow of capital to small and start up concerns. Last year, for the first time in my 24 years of practice, I had U.S. based small corporate clients go abroad for capital and to go public…I urge the SEC to stop its delaying tactics and implement the necessary rules for the JOBS Act.
5.) In a letter from Senator Al Franken from Minnesota forwards a message from Harlan T. Jacobs. Harlan concerns are right on with well just about everyone in the equity crowdfunding space. His persistence and formal letter to his senator is admired.
The rules and regulations that should have been published by now are again delayed at the SEC. This uncertainty has denied greater access.~ to the caplta1 markets among our small emerging businesses (our nation’s main. ‘Job Creators’) This is causing serious economic harm here in Minnesota.