SEC-NYU Dialogue on Securities Crowdfunding in the U.S.


On February 28, 2017 the SEC and NYU (New York University’s Salomon Center) will host a half-day dialogue on U.S. securities-based crowdfunding

The dialogue will be held at the SEC headquarters in Washington, DC, and will be open to the public. Webcasting will also be available. The preliminary program will include:

9:15am    Welcome remarks, Acting Chairman Michael Piwowar

9:30am    Session 1: Economic rationale and legal framework for securities crowdfunding.

A discussion focused on the funding needs of small and emerging companies, legal requirements for crowdfunding issuers and funding portals, and the impact of securities crowdfunding for various market participants such as companies, investors, entrepreneurs, and regulators.


Douglas S. Ellenoff (Ellenoff Grossman & Schole LLP)

Ethan Mollick (Assistant Professor, Wharton School, University of Pennsylvania)

Michele J. Schimpp (Acting Associate Administrator, Office of Investment and Innovation, U.S. Small Business Administration)

Sebastian Gomez Abero (Chief, Office of Small Business Policy, Division of Corporation Finance, SEC)

10:45am    Session 2: Investor protection and capital formation in securities crowdfunding

A discussion of the challenges and tradeoffs of protecting investors in crowdfunding transactions while facilitating fundraising among small firms and entrepreneurs with limited access to alternative sources of capital.


Sara Hanks (CEO, CrowdCheck)

Paul LaPorte (CEO, MF Fire)

Marc Sharma (Office of the Investor Advocate, SEC)

12:00pm   Session 3: Empirical evidence and data on securities crowdfunding

A presentation of the empirical evidence on the current levels of securities crowdfunding, and a discussion of how future research can help shape the development of this new securities market segment.


Douglas Cumming (Professor, Schulich School of Business, York University)

Sandy Yu (Postdoctoral Fellow, UC-Berkeley and CrowdBerkeley)

Vladimir Ivanov (Senior Financial Economist, DERA, SEC)

Learn more and register for The February 28th SEC-NYU Dialogue on Securities Crowdfunding in the U.S. HERE


Reg A+

Regulation A+


Securities and Exchange Commission


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