{"id":6291,"date":"2012-12-11T16:19:00","date_gmt":"2012-12-11T21:19:00","guid":{"rendered":"https:\/\/www.merkley.senate.gov\/merkley-and-bennet-call-upon-sec-to-quickly-release-crowdfunding-rules\/"},"modified":"2023-07-24T11:10:40","modified_gmt":"2023-07-24T15:10:40","slug":"merkley-and-bennet-call-upon-sec-to-quickly-release-crowdfunding-rules","status":"publish","type":"post","link":"https:\/\/www.merkley.senate.gov\/es\/merkley-and-bennet-call-upon-sec-to-quickly-release-crowdfunding-rules\/","title":{"rendered":"Merkley y Bennet piden a la SEC que publique r\u00e1pidamente las reglas de financiaci\u00f3n colectiva"},"content":{"rendered":"

WASHINGTON DC -<\/strong> Today, Senators Jeff Merkley (D-OR) and Michael Bennet (D-CO) sent a letter to SEC Chairman Mary Schapiro to request that rules governing crowdfunding activities be issued quickly. Merkley and Bennet were lead sponsors on the CROWDFUND Act, which was passed on April 5, 2012 and legalizes the raising of start-up capital for small businesses on the internet.  <\/p>\n

\n

“We understand the complexity in crafting the new rules. Yet time is of the essence. Market participants are eager to start providing crowdfunding services to entrepreneurs and investors alike, and small businesses and entrepreneurs are eager to raise money and create jobs,” wrote the legislators. “At a minimum, the Commission should put out for comment proposed rules as soon as possible. We also expect the SEC to coordinate with the relevant national securities association to ensure that its processes are expedited as well.”<\/p>\n<\/blockquote>\n

Joining Senators Merkley and Bennet were Senators Scott Brown (R-MA), Mary Landrieu (D-LA), and Congressman Patrick McHenry (R-NC). <\/p>\n

Full text of the letter to Hon. Mary Schapiro is below: <\/p>\n

December 10, 2012<\/p>\n

Hon. Mary Schapiro<\/p>\n

Presidente<\/p>\n

Comisi\u00f3n Nacional del Mercado de Valores<\/p>\n

100 F Street, NE<\/p>\n

Washington, DC 20549<\/p>\n

Dear Chairman Schapiro: <\/p>\n

We write to request that the Securities and Exchange Commission promulgate proposed regulations on crowdfunding in the most expeditious manner possible. <\/p>\n

On April 5, the President signed into law the CROWDFUND Act, which amended the federal securities laws to authorize securities-based crowdfunding.  Adopted with a bipartisan vote in both the Senate and the House of Representatives, the Act takes a balanced approach to creating a new financial market where entrepreneurs and small businesses can efficiently raise capital from small-dollar investors.  A central element of the bipartisan compromise was for the SEC to bring its expertise to bear so that investors could trust this new marketplace.  A trustworthy marketplace will benefit investors, entrepreneurs, and intermediaries. <\/p>\n

We understand the complexity in crafting the new rules.  Yet time is of the essence.  Market participants are eager to start providing crowdfunding services to entrepreneurs and investors alike, and small businesses and entrepreneurs are eager to raise money and create jobs. <\/p>\n

The law directed the SEC to promulgate the necessary rules within 270 days of the enactment of the Act.  That timeline might seem aggressive, but Congress chose it after careful consideration.  While we commend the SEC for welcoming a wide range of input to date, we are concerned that in the eight months since the statute’s enactment, the Commission has not yet proposed rules.  We recognize that there are a number of important demands on the SEC’s time and resources, but we believe that the Commission should work aggressively to initiate the rulemaking and comment process.   <\/p>\n

At this point, it will be difficult to complete the rules by the deadline in the Act, but the SEC should move expeditiously to attempt to do so.  At a minimum, the Commission should put out for comment proposed rules as soon as possible.  We also expect the SEC to coordinate with the relevant national securities association to ensure that its processes are expedited as well. <\/p>\n

Gracias por su atenci\u00f3n a este asunto.<\/p>\n

Atentamente,<\/p>\n

 <\/p>\n

Senador Jeff Merkley (D-OR)<\/p>\n

Senator Michael Bennet (D-CO)<\/p>\n

Senator Scott Brown (R-MA)<\/p>\n

Senator Mary Landrieu (D-LA)<\/p>\n

Congressman Patrick McHenry (R-NC)<\/p>\n

 <\/p>\n

cc:           Hon. Elisse Walter, Commissioner and Chairman-designate<\/p>\n

 <\/p>\n

###<\/p>","protected":false},"excerpt":{"rendered":"

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