CROWDFUNDING 6.0: DOES the SEC's FINTECH LAW FAILURE REVEAL the AGENCY's TRUE MISSION to PROTECT-SOLELY ACCREDITED- INVESTORS?
CROWDFUNDING 6.0: DOES THE SEC's FINTECH LAW FAILURE REVEAL THE AGENCY'S TRUE MISSION TO PROTECT-SOLELY ACCREDITED- INVESTORS? DAVID GROSHOFF, * ALEX NGUYEN,** & KURTIS URIEN*** This Article builds on our prior research employing case studies- either singly or globally-to serve as the analytic to newly trending matters in law and entrepreneurship. Specifically, this Article serves as the third installment of our trilogy in FinTech law, analyzing potential consequences of the Equity Crowdfunding portion of the JOBS Act, including the Securities and Exchange Commission's (SECs) proposed regulations * Ed.M., Harvard University; J.D., The Ohio State University; M.B.A., Northern Kentucky University; B.A., Indiana University. Senior Vice President, Chief Legal Officer, and Interim Chief Financial Officer, DreamFund.com; former Associate Professor of Law & Director, Business Law Center, Western State College of Law. Professor Groshoff thanks the numerous participants at the 2014 National Business Law Scholars Conference for their outstanding critical comments that improved this Article's quality, including Professors Barbara Black, Joan MacLeod Heminway, Carlos Berdejo, Frank Partnoy, Neal Newman, and Eric Chaffee. He further thanks Professors George Triantis, David Kennedy, and Douglas J. Whaley.He is indebted to the founding team at crowdfunding company, DreamFund.com, including its CEO and former Salary.com founder and CEO, Kent Plunkett, CMO, Peter Crosby, and CTO, Yong Zhang, for allowing me to witness, first-hand, the creation and development of a crowdfunding/circle giving platform and use my experiences as a basis for this Article. He thanks his co- authors Kurtis Urien, Esq., and Alex Nguyen. Professor Groshoff is deeply appreciative to his former research assistants, including Andi Lonky, Beverly Bashor, and Kevin Khoa Nguyen, for their material contributions.
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