Crowdfunding on Steroids: General Solicitation under Rule 506(c

In 2009 Douglas Slain launched a monthly law reporting service, Securities Enforcement Reporter, and a quarterly, Blue Sky Chronicle, both titles focusing on the under-reported state hearings of private placements gone astray. These publications’ print versions are no longer extant but their mission and community of interest live on through a growing 1400-member LinkedIn discussion group, known as the State Securities Regulation Discussion Group.

Slain has been asked to serve as an expert witness in litigation that turned, in part, on compliance with SEC Regulation D. Slain also has a working relationship with several members of North American Securities Administrators Association (NASAA).

Slain has recently taught an online course on “equity crowdfunding”—otherwise known as equity crowd financing, as mandated by the 2012 JOBS Act. This new asset class (already followed on MarketWatch.com) is being called Private Issuers Publicly Raising (PIPR).

Slain is honored to be serving on the Investor’s Committee of CrowdFund Intermediary Regulatory Advocates (CFIRA), a group of professionals working with the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC) to set standards and establish best practices.