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Crowdfunding - what are the compliance issues one needs to…

Customer Question
Crowdfunding - what are...

Crowdfunding - what are the compliance issues one needs to know when starting one up?

Lawyer's Assistant: What state are you in? It matters because laws vary by location.

California

Lawyer's Assistant: Has anything been filed or reported?

No we are doing our research before we even put it into fruition

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

We just want to make sure we follow all regulations and rules before crowdfunding

Submitted: 6 months ago.Category: Legal
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Answered in 13 hours by:
11/28/2017
Lawyer: Asad Rahman, Lawyer replied 6 months ago
Asad Rahman
Asad Rahman, Lawyer
Category: Legal
Satisfied Customers: 2,479
Experience: Practicing Attorney with 10 years experience
Verified

Good morning. Your question is a bit complex but when crowdfunding you are invoking both federal and state securities law. The federal regulations are promulgated by the Securities Exchange Commission. Here is a short overview of the process. I'd be happy to connect by phone and see if I can help you with your set up. https://www.sec.gov/info/smallbus/secg/rccomplianceguide-051316.htm

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Customer reply replied 6 months ago
We will benefit nothing from this crowd funding as donations will be directly peer to peer with method of payment using mobile services such as venmo or paypal. I am just in the building process and trying to ensure all avenues are cleared with the set up I have in place. I will be available aft 6pm California time. I really just want to make sure the process I am thinking will meet the definition of crowdfunding and SEC laws for California and participating states.
Lawyer: Asad Rahman, Lawyer replied 6 months ago

I see. Let me set up time for us to chat.

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