As previously reported on CrowdfundInsider.com, I will be authoring a column on its behalf, The Crowdfunding Counselor™, dedicated to discussing legal issues of importance to those committed to advancing capital formation for small businesses and startups alike flowing from the passage of the JOBS Act of 2012. The advent of the JOBS Act and ongoing SEC rulemaking are creating new, groundbreaking tools and avenues for capital formation – including general solicitation to accredited investors in unregistered offerings, and the more traditional equity crowdfunding model targeting both accredited and unaccredited investors. These legal developments, coupled with the limitless reach of the Internet and social media, create a myriad of exciting opportunities for those with vision and the drive to promote economic growth on a local and national level.
As the laws and regulations in the investment crowdfunding are now in the process of being developed, with proposed SEC crowdfunding rules being issued on October 23, 2013, I hope to have a role in educating interested parties on the benefits of crowdfunding, stimulating thought leadership and shaping public opinion as the laws and regulations take shape. Equally important, as equity crowdfunding is a nascent industry worldwide, the legal structure which will initially define the parameters of crowdfunding will undoubtedly require fine tuning through both SEC rulemaking and further Congressional action – in order to make equity crowdfunding an efficient and effective tool. I hope to have an opportunity to address areas in which current legislation can and should be improved.
I am extremely pleased to be able to partner with Crowdfund Insider, under the auspices of its Director Charles Luzar and co-founder and owner Andrew Dix. This publication has demonstrated its ability to serve as the news and opinion source in the crowdfunding arena, with a wealth of informative content and a quality of journalism which has often proven to be lacking in the crowdfunding arena. Having had the opportunity to work with the staff at CrowdFund Insider, and get to know Director Charles Luzar, co-founder Andrew Dix and other team members, I am convinced that CrowdFund Insider will continue to be the must read publication for thought leaders and participants in the crowdfunding space, for both both equity crowdfunding and other non-regulated social crowdfunding areas.
Samuel S. Guzik is a corporate and securities attorney and business advisor with the law firm of Guzik & Associates, with more than 30 years of experience. He is admitted to practice before the SEC and in New York and California. During this time he has represented a number of public and privately held businesses, from startup to exit, concentrating in financing startups and emerging growth companies. He also frequent blogger on securities and corporate law issues at The Corporate Securities Lawyer Blog.