The Crowdfunding Intermediary Regulatory Advocates (CFIRA.org) was formed as equity crowdfunding legislation passed the US Senate in late March of 2012. Since then the organization has grown to almost 70 members who are committed to building a united crowdfunding industry voice for collaboration with securities regulators, financial industry professionals, investors, and entrepreneurs. CFIRA includes members of the crowdfunding industry along with legal and securities experts that helped lead the charge advocating for crowdfunding legislation. CFIRA continues to advocate for well conceived practical rules that will clarify and strengthen crowdfunding law.
As the group has grown, it has become increasingly important to remain focused and agile. With this in mind, today CFIRA named its first Executive Committee. The four committee members are Candace Klein of SomoLend, Vince Molinari of Gate Technologies, Freeman White of Launcht, and DJ Paul of Crowdfunder. Each have been involved in the push for equity crowdfunding legislation since it got to the Senate in the fall of 2011 and each were founding members of CFIRA in March of 2012. As the pace and importance of dialog with the SEC has increased over the past months, this executive committee is vital to ensuring that the rulemaking leads to a practical and workable system of regulations for the fledgling equity crowdfunding industry.
Launcht is honored to have been given representation on CFIRA’s executive committee and is committed to making sure that needs of crowdfunding intermediaries are taken into account during the current rulemaking process.