Tuesday, August 12, 2014

DC Crowdfunding Exemption Proposed

The D.C. Department of Insurance, Securities and Banking issued a Notice of Proposed Rulemaking on the District of Columbia-Only Securities Offerings Exemption on August 8, 2014. Comments are due Sept. 6, 2014.

"The proposed rulemaking would establish a localized exemption from the District’s full securities registration requirements in order to simplify and encourage investing in D.C.-based small businesses.
To qualify for the exemption, the business must be organized under D.C. law, have its principal place of business in the District and the securities in the offering must be offered only to D.C. residents. The proposed method of funding (up to $2 million) will be available only to D.C.-based businesses..."
All persons desiring to file comments on the proposed rulemaking should submit written comments via e-mail to disb.dconlyregs@dc.gov. or by mail to the Department of Insurance, Securities, and Banking, 810 First Street, NE, Suite 701, Washington, DC 20002, Attn: Lilah R. Blackstone, Assistant General Counsel.

Friday, August 1, 2014

NCS Selected as Crowdfunding Advisor to the Government of the District of Columbia

National Crowdfunding Services, LLC (NCS) today announced the company was selected as Crowdfunding Advisor to the Government of the District of Columbia. Specifically, NCS will provide crowdfunding services to selected grantees of the District's Great Streets Program.

Great Streets “is the District's multi-year, multi-agency commercial revitalization initiative to transform emerging corridors into thriving and inviting neighborhood centers. Led by the Office of the Deputy Mayor for Planning and Economic Development (DMPED) in conjunction with the Office of Planning (OP) and the District Department of Transportation (DDOT), Great Streets has grown into a multi-year, multi-agency program that utilizes public actions and resources to leverage private investment in retail, office space, housing, and cultural facilities across the District.”

DC native and Howard University graduate William Michael Cunningham, Managing Partner at National Crowdfunding Services said, “We are honored. NCS has long been regarded as a leader in the crowdfunding space, providing not only the most in-depth research and analysis, but also providing thought leadership. We will use crowdfunding to address critical small business market development and financing needs. We believe crowdfunding is a critical emerging tool in the small business development and financing toolbox, and are glad the Government of the District of Columbia agrees. We look forward to working with the many extraordinary businesses along the Great Streets corridors.”

NCS will help the City evaluate six Great Streets Grantees who will be selected for the DC Crowdfunding Challenge. NCS will work with the six finalists to launch and manage crowdfunding campaigns.

For complete details about the DC Challenge contact Henry W. Burger, Director of Business Development, National Crowdfunding Services at (202) 430-6330  or front.office@nationalcrowdfundingservices.com