Crowdfunding Curation or Censorship?

The SEC proposed crowdfunding rules don’t permit significant curation of projects.

Although it’s not yet clear if sites can specialize in verticals, the rules do suggest that funding portals must take all comers.

So, what happens if a site “discriminates” on the basis of politics? Recently, Phelim McAleer complained on Fox News that Kickstarter rejected his TV movie on the convicted abortionist Kermit Gosnell solely on the basis of subject matter, telling  McAleer that the film violated their “community guidelines.”

So, McAleer went to Indiegogo and is currently seeking funding there.

See his complaint here: http://www.foxnews.com/opinion/2014/05/08/when-kickstarter-censored-my-movie-on-abortion-doctor-kermit-gosnell/

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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
This entry was posted in Congress, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, Film, FINRA, Funding Portals, Investments, Jobs, Legislative Intent, SEC, Uncategorized and tagged , , , , , , , , , , , , , , , , , , , , , , , , , . Bookmark the permalink.

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