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Neiss Advocates for Economic Growth via H.R. 2799

Advocacy | Feb 22, 2024

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Sherwood Neiss Says the "Expanding Access to Capital Act" Will Boost the Economy, Job Creation, and Inclusive Innovation

Sherwood “Woodie” Neiss, a founding partner at Crowdfund Capital Advisors (CCA) who was one of the creators of the JOBS Act of 2012 (legislation that legalized investment crowdfunding), and NCFA Advisor, has sent a letter to Congressional leaders, informed by data-driven evidence, advocating for HR 2799, also known as the Expanding Access to Capital Act. This proposed legislation aims to bolster support for entrepreneurs and small businesses, thereby enhancing economic growth. The correspondence was directed to key figures within both major political parties in the U.S. House of Representatives and was in response to a letter sent by the North American Securities Administrators Association (NASAA) opposing the legislation.

See:  NASAA Intensifies Access to Capital Debate

The Expanding Access to Capital Act will build upon the successes of the JOBS Act by further democratizing access to capital. This move promises to enhance economic growth, spur innovation, and support the creation of jobs, while maintaining a commitment to investor protection. Despite opposition from the North American Securities Administrators Association (NASAA), the overwhelming evidence and support from the crowdfunding sector underscore the transformative potential of H.R. 2799.

Let's Break It Down

1.  Unprecedented Economic Impact

  • Since the inception of Regulation Crowdfunding (RegCF), over 6,800 issuers from more than 1,800 cities have launched upwards of 8,000 offerings, channeling billions into the U.S. economy with minimal instances of fraud.  This showcases the robust framework of crowdfunding that not only stimulates economic growth but does so with an impressive record of integrity and safety for investors.

2.  Inclusive Capital Formation

  • In 2023 alone, 41.7% of issuers had at least one woman or minority founder, significantly outpacing traditional venture capital's support for these demographics.  Crowdfunding under Regulation Crowdfunding has emerged as a powerful tool for leveling the playing field, offering unprecedented access to capital for underrepresented entrepreneurs.

3.  Spurring Innovation Across Industries

  • Regulation Crowdfunding has enabled companies across over 500 industries to raise over $2.2 billion from nearly 2 million Americans, seeding the next wave of innovation.  The diversity of industries and broad investor base illustrate crowdfunding's role in fostering a wide range of innovations, from tech startups to sustainable solutions.

See:  The Real Story of Access to Capital

4.  Job Creation and Economic Resilience

  • Regulation Crowdfunding companies have created and supported over 310,000 jobs, injecting more than $6.8 billion into the economy.  Beyond funding, RegCF has a tangible impact on job creation and economic resilience, highlighting its role as a cornerstone of economic development.

5.  NASAA's Concerns

  • NASAA has expressed opposition to H.R. 2799, citing concerns over potential risks to investor protection.  While investor protection is paramount, the data and success stories from the crowdfunding sector suggest that the existing regulatory framework effectively balances access to capital with safeguards for investors (despite what NASAA says).


The momentum behind H.R. 2799 and the advocacy of Crowdfund Capital Advisors underscore a collective recognition of Regulation Crowdfunding's potential to transform the landscape of capital formation in the United States.  By building on the foundation laid by the JOBS Act, this legislation aims to unlock new opportunities for entrepreneurs and investors alike, fostering an environment where innovation can thrive. As we look to the future, the continued success and expansion of investment crowdfunding hold the promise of a more inclusive, dynamic, and prosperous economy for all.

Download CCA's Letter --> here

NCFA Jan 2018 resize - Neiss Advocates for Economic Growth via H.R. 2799The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit:

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