NACA in the News: FTC Hears From Company Leaders as Crowdfunding Grows

Release Date: 
October 27, 2016
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Corporate Counsel, FTC Hears From Company Leaders as Crowdfunding Grows

"Ira Rheingold, executive director of the National Association of Consumer Advocates, said the crowdfunding industry should get first crack at setting its own rules.

"As long as you maintain control, as long as you maintain good standards, as long as we limit the amount of fraud and unfair practices that exist, regulators will keep a light touch," Rheingold said. 'The question becomes, if in fact it grows at a point exponentially without those protections in place, then you create the risk of regulators really stepping in with a heavier foot than otherwise might be necessary.'"