In response to delays and onerous rules proposed by the Securities and Exchange Commission, “SEC”, Congressman Patrick McHenry has proposed to repeal the Crowdfund Act, Title III of the Jobs Act. McHenry proposes to replace it with the Equity Crowdfunding Improvement Act of 2014, the “Improvement Act”. The Ontario Crowdfunding proposal is similar and just
Read MoreEquity Crowdfunding operates around-the-clock, 24×7, in Britain. In three years the sale of Crowdfunding shares has increased from $3-million to $52-million. The British Equity Crowdfunding format merits consideration in Canada and USA. UK Equity-based Crowdfunding 2011-2013 2011 – £1.7-million (Cdn$3-million) 2012 – £3.9-million (Cdn$7-million) 2013 – £28-million (Cdn$52-million) Source: The Rise of Future Finance –
Read MoreThere are two major drawbacks to the Ontario Crowdfunding proposal: resale of Crowdfunding shares are restricted; there is no marketplace for trading Crowdfunding shares of non-reporting issuers. Would you buy shares that are almost impossible to sell because they have an indefinite hold period?
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