Articles

Crowdfunding: The Real and the Illusory Exemption

JASON W. PARSONT

Crowdfunding is commonly defined as raising small amounts of capital from a large number of people over the Internet.



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JOBS Act Crowdfunding Provisions Await Clarification by SEC

SARA HANKS

The Jumpstart Our Business Startups Act (the ‘‘JOBS Act’’) was signed by the President on April5, 2012.



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Regulation A+: New Opportunities for Capital Formation

SARA HANKS AND ANDREW STEPHENSON

Published in Bloomberg BNA Securities Regulation & Law Report.



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Madness of Crowds or Regulatory Preconception?: The weak Foundation of financial Crowdfunding Regulation in the US and Italy

SARA HANKS, GIOVANNI ROMANO, ENRICO TONELLI

European Company Law

Madness of Crowds or Regulatory Preconception?



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Thomson Rueters Practical Law October 2015: Expert Q&A on Equity Crowdfunding

Expert Q&A on Equity Crowdfunding with Sara Hanks will appear in the October 2015 edition of Thomson Rueters Practical Law



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Shooting the Messenger: The Liability of Crowdfunding Intermediaries for the Fraud of Others

STEVEN BRADFORD

Intermediary liability in the crowdfunding industry.

http://papers.ssrn.com/sol3/ papers.cfm?abstract_id=2460000



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Investor and Market Protection in the Crowdfunding Era: Disclosing to and for the ‘Crowd’

JOAN MACLEOD HEMINWAY

This article focuses on disclosure regulation in a specific context: securities crowdfunding (also known as crowdfund investing or investment crowdfunding).



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Online capital-raising by small companies in the USA after the JOBS Act compared to the same process in the European Union

SARA HANKS

The economic impetus for easing the burden on small- and medium-sized companies raising small amounts of capital from numerous investors.



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An Overlooked Class of Private Offerings: Independent Rule 506(c) Raises

ANDREW STEPHENSON AND SARA HANKS

http://bit.ly/1hWuoBu

Bloomberg BNA: Securities Regulation and Law Report – An Overlooked Class of Private Offerings: Independent Rule 506(c) Raises



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Crowdfunding Securities

ANDREW A. SCHWARTZ

A new federal statute authorizes the online “crowdfunding” of securities, a new idea based on the concept of “reward” crowdfunding practiced on Kickstarter and other websites.



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The Siren Call of Equity Crowdfunding

MICHAEL B. DORFF

The JOBS Act opened a new frontier in start-up financing, for the first time allowing small companies to sell stock the way Kickstarter and RocketHub have raised donations: on the web, without registration.



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What is a Security in the Crowdfunding Era?

JOAN MACLEOD HEMINWAY

With the advent of the crowdfunding era, financial interests in business enterprises may look less like investment instruments commonly known as common stock



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A Very Quiet Revolution: A Primer on Securities Crowdfunding and Title III of the JOBS Act

THAYA BROOK KNIGHT, HUIWEN LEO, AND ADRIAN OHMER

Since the early 2000s, “crowdfunding” has emerged as a means of obtaining funds for new and innovative projects.



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A JOBS Act Rule Goes Into Effect And Companies Begin Testing the Reg A+ Waters

SARA HANKS & ANDREW STEPHENSON

Expert Q&A on Equity Crowdfunding with Sara Hanks will appear in the October 2015 edition of Thomson Rueters Practical Law



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Redrawing the Public-Private Boundaries in Entrepreneurial Capital-Raising

ROBERT B. THOMPSON AND DONALD C. LANGEVOORT

The JOBS Act is the most far-reaching legislative reform in what it means to be a public company or to make a public offering



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Crowdfunding or Fraudfunding? Social Networks and the Securities Laws — Why the Specially Tailored Exemption Must be Conditioned on Meaningful Disclosure

THOMAS LEE HAZEN

Social networks have been used as a medium for financing films and other performing arts, as well as for charitable solicitations.



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The New Federal Crowdfunding Exemption: Promise Unfulfilled

C. STEVEN BRADFORD

On April 5, 2012, President Barack Obama signed into law a new federal securities law exemption for crowdfunded securities offerings.



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Proceed at Your Peril: Crowdfunding and the Securities Act of 1933

JOAN MACLEOD HEMINWAY AND SHELDEN RYAN HOFFMAN

A promising Web-based funding model for small business firms has emerged over the past few years.



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