The fight for funding portal supremacy has begun!

Several donation-based crowd funding sites (eg, RocketHub* and Indiegogo*) have indicated their interest in becoming “funding portals.” The Crowd Fund Act says that they do not have to register as broker-dealers. Just announced today (May 21, 2012), ConfidentCrowd* is touting that its sponsoring members consist exclusively of registered broker-dealers. They contend that “registered Broker-Dealer firms are best positioned to screen, evaluate and structure these challenging, high-potential investments for success.” (*No endorsement intended.)

http://confidentcrowd.com/

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About JeffKoeppel

I am a corporate/securities attorney in the Washington, DC area. Prior to joining the firm, I was a Senior Attorney Advisor in the Division of Corporation Finance at the U.S. Securities and Exchange Commission. I am a member of the Bars of the States of Maryland, New York and the District of Columbia. You can also follow this blog on LinkedIn at: http://www.linkedin.com/pub/jeffrey-a-koeppel/0/63/5a9
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