A funding portal is not a broker-dealer and hence not compensated to do the diligence (nor have the expertise, time or resources to diligence) the underlying companies, funding portals essentially act as a matching service. The premise of crowdfunding is the crowd reviews this information and makes their own decision. Hence, portals should not be held accountable for misstatements by the issuers. Issuers need to be held accountable for those misstatements.

Sherwood Neiss

Categorized in : U.S.

From what we understand there is general agreement within the SEC that this is something that should be done now, we believe there is no need for the SEC to be holding it back any further.

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To see the light at the end of the tunnel for the regulations and the amazing opportunity that this means for entrepreneurs, investors, innovation and our country in general is beyond exciting.

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