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Retirement Planning > Social Security > Social Security Funding

SEC to Host Crowdfunding Symposium

By Melanie Waddell

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As new crowdfunding rules kick in, the Securities and Exchange Commission plans to host a crowdfunding symposium on Feb. 28 to probe research, challenges, opportunities as well as the effects of securities-based crowdfunding on various market participants.

The symposium, to be held by the agency’s Division of Economic and Risk Analysis in partnership with NYU’s Salomon Center for the Study of Financial Institutions, will be held at SEC headquarters in Washington.

Regulators, practitioners and academics will be on hand at the half-day event to discuss protecting investors while facilitating capital formation.

The North American Securities Administrators Association and the Securities and Exchange Commission signed Friday a memorandum of understanding to share information as new rules to facilitate intrastate crowdfunding offerings and regional offerings kick in.

“We are excited to collaborate with NYU in this event focused on new sources of capital formation, and designed to bring together academics, industry participants and the SEC,” said acting SEC Chairman Michael Piwowar, in a statement.

Regulation Crowdfunding, a JOBS Act rulemaking that went into effect on May 16, allows for a large number of retail investors to be solicited on the web and through social media to purchase unregistered securities of small private companies. The rule also set up funding portals to bring together buyers and sellers online.

To date, 21 funding portals have emerged to facilitate these transactions, with 163 deals initiated, of which 33 have completed their fundraising, according to the SEC. About $10 million of new capital has been raised in total since Regulation Crowdfunding became effective last May. 

— Check out Deadline Approaching for New York Cybersecurity Regulations on ThinkAdvisor.

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