TIMELINE OF THE US CROWDFUNDING BILLS

MAKING IT LEGAL CROWDFUNDING BILLS timeline in the U.S. ADD G68 HHННН 2010 WHAT CAME FIRST? WHERE July 10 Sustainable Economics Law Center are we now? filed a petition to the SEC for a crowdfunding exemption File 4-605 (crowdfunded with IndieGoGo campaign) EQUITY-BASED CROWDFUNDING EXEMPTION BILLS 10 May 11 US Congressional Testimony presented on currently in Senate STARTUP EXEMPTION Legislators are wrestling with the challenge of BALANCING INVESTOR & PROTECTION FACILITATING INVESTMENT 15 Aug 11 Advocating state level securities exemption CROWDFUNDING EXEMPTION PETITION SENT TO Securities Division of the Washington State Department of Financial Institutions Will work with SEC on crowdfunding exemption 8 Sep 11 AMERICAN JOBS ACT introduced by President Obama CROWDFUNDING 1st "Crowdfunding: Connecting Investors and Job Creators Entrepreneur Access to Capital Act 15 Sep 11 FULL CONGRESSIONAL HEARING H.R. 2930 in House of Representatives Included testimonies or Rep. Patrick McHenry H.R. 2930 and Startup Exemption INTRODUCED "Entrepreneur Access to Capital Act 21 Sep 11 H.R. 2930 HOUSE HEARING H.R. 2930 is "broadly consistent" with White House proposals for exemptions PRESIDENT'S SUPPORT FOR H.R. 2930 2nd OROWDFUNDING BILL 2 Nov 11 Democratizing Access to Capital Act S. 1971 Entrepreneur Access to Capital Act in Senate H.R. 2930 Senator Scott Brown 3 Nov 11, INTRODUCED 407-17 landslide victory PASSED HOUSE "To Make Crowdfund 17 Nov 11, Investing Legal' H.R. 2930 RALLY Suggested changes essential to success of legislation with Representative Patrick McHenry for crowdfunding exemption RECOMMENDATIONS 22 Nov 11 ON S. 1971 by SELC and ASBC 'Spurring Job Growth through Capital Formation While Protecting Investors' SENATE HEARING on investor protection for crowdfunded securities 1 Dec 11 Proposal for state regulated securities NASAA testimony during Senate hearing Jack Herstein GROWDFUNDING Зrd CROWDFUND Act 8 Dec 11 S. 1970 in Senate Senator Jeff Merkley INTRODUCED 14 Dec 11 "Examining Investor Risks in Capital Raising' SENATE HEARING WHAT'S NEXT? Testimony on bill S. 1970 Senator Jeff Merkley Reconciliation of bills Each House must pass final bill SEC interpretative leglislation 2012 INFOGRAPHIC S crowdsourcing.org CREATED BY THE INDUSTRY WEBSITE ™ ANDFISHDESIGN.co.uk BILL BILL