You are here

Half a Crowdfunding Fix: HR 4855 Passes House Financial Services Committee with Several Changes

Citations

Crowdfund Insider quotes John Berlau's letter of support for the Fix Crowdfunding Act bill. 

John Berlau, a Senior Fellow at the Competitive Enterprise Institute, had previously published a comment letter in support of the Fix Crowdfunding Act bill. His letter had warned elected officials;

“..many entrepreneurs are finding difficulty utilizing the provisions because of burdens added by both the Senate changes and the unduly restrictive SEC implementation of the rule.”

Berlau firmly noted;

“American middle-class investors shouldn’t be denied this kind of opportunity to build wealth because of unduly restrictive rules, and the commonsense approach of the Fix Crowdfunding Act will help see that they won’t.”

Following the passage by the Committee, Berlau told Crowdfund Insider;

“On today’s passage by 57-2, I think it is heartening that even in this hyper-partisan atmosphere, members of both parties can still come together to take on regulatory barriers to prosperity for middle-class investors and entrepreneurs. This vote shows that the bipartisan consensus in favor of access to capital and access to wealth creation, which resulted in the enactment of the JOBS Act four years ago, is still very much alive.”

Read the full article at Crowdfund Insider.