JOBS Act Hearings Prepare the U.S. for Expanded Crowdfunding Market

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Last month I spoke to the leaders of RocketHub, a popular crowdfunding platform, about the efforts they and others supported by the Crowdfunding Professional Association (CfPA) are making to advance the rules and safeguards for expanding Crowdfunding to equity crowdfunding for businesses with the implementation of the JOBS Act in 2013.

While the actual implementation of JOBS is months away, this week’s Congressional hearings are critical to the creation of SEC guidelines and standards around the aspects of crowdfunding the JOBS Act will soon usher in.

On Tuesday (June 26, 2011) The Congressional Committee on Oversight and Government Reform held a hearing on the SEC’s efforts to implement the JOBS Act. Rep. Patrick McHenry (R-NC) chaired the hearing. RocketHub’s Co-Founder and CFO Alon Hillel-Tuch, who I interviewed in a two-part column series last month, testified on the potential the “crowdfunding for equity” model holds for start-ups, job growth, and the US economy. For anyone interested in the full hearing, you can view the C-SPAN coverage via the following link here.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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