Posted on Tuesday, April 26, 2016

Speakers include BankRoll, Computershare, Crowdnetic, FINRA, FundAmerica, Markit, the SEC and XBRL US

XBRL US today announced a free half-day forum for financial technologists, investors, analysts, regulators, investor relations professionals and data providers: Crowdfunding & Data Standards. The forum is designed to provide an introduction to crowdfunding, the practice of funding a company or initiative by raising monetary contributions from a large number of people, through Internet-based funding portals. The event is hosted by Baruch College’s Zicklin School of Business at their 151 E. 25th Street campus and sponsored by the CFA Institute.

Crowdfunding programs can take the form of rewards, donations, or financing through debt or equity. The June 28 forum will focus on financing through crowdfunding, with a review and discussion of existing and anticipated programs and portals, and the role data standards can play in facilitating transparency and accountability in these exchanges. The program will also address Regulation Crowdfunding, a 2015 ruling by the Securities and Exchange Commission (SEC), based on Title III of the JOBS Act, which provides a framework for the regulation of registered funding portals and broker-dealers that serve as intermediaries in the offer and sale of securities.

“Formalization of crowdfunding structures through Regulation Crowdfunding has increased the importance of data standards as investors consider their increased investment options,” said James Allen, CFA, Head of Capital Markets Policy for the Americas at CFA Institute. “This forum looks to provide stakeholders from the issuer, investor and regulatory communities with insights into how crowdfunding systems will affect capital markets.”

The new SEC rule requires companies obtaining funding to report financial statement data for investors. As the global data standard widely used in financial markets today, XBRL (eXtensible Business Reporting Language) can provide a reliable and cost-effective data source for crowdfunding investors and portal owners, as they evaluate potential crowdfunding projects.

The event, which is free to all attendees, presents an opportunity to learn about crowdfunding and the rapidly changing regulatory landscape, and to help regulators, small businesses and financial intermediaries plan for the sector’s emerging importance to the financial markets.

“Crowdfunding aims to streamline and ease the process of obtaining financing for small businesses, raising relatively small amounts online from a large number of people to drive growth. The traditional costs associated with financing can be prohibitively high and data standards can be an effective means to enable transparency in financial reporting at an acceptable cost to issuers,” said Kendall Almerico, one of the country’s top crowdfunding attorneys who is CEO at Bankroll Ventures LLC.

For more information on the agenda and to register, go to:

About Baruch College

Baruch College is a senior college in the City University of New York (CUNY) with a total enrollment of more than 18,000 students, who represent 164 countries and speak more than 129 languages. Ranked among the top 15% of U.S. colleges and the No. 4 public regional university, Baruch College is regularly recognized as among the most ethnically diverse colleges in the country. As a public institution with a tradition of academic excellence, Baruch College offers accessibility and opportunity for students from every corner of New York City and from around the world.  For more about Baruch College, go to

About CFA Institute

CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion for ethical behavior in investment markets and a respected source of knowledge in the global financial community. The end goal: to create an environment where investors’ interests come first, markets function at their best, and economies grow. CFA Institute has more than 138,000 members in 148 countries and territories, including 131,199 CFA charterholders, and 146 member societies. For more information, visit


XBRL US is the non-profit consortium for XBRL business reporting standards in the U.S. and represents the business information supply chain. Its mission is to support the implementation of business reporting standards through the development of taxonomies for use by U.S. public and private sectors, with a goal of interoperability between sectors, and by promoting XBRL adoption through marketplace collaboration. XBRL US has developed taxonomies for U.S. GAAP, credit rating and mutual fund reporting under contract with the U.S. Securities and Exchange Commission and has developed industry-specific taxonomies for corporate actions and surety processing. For more information, go to

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Tuesday, June 18, 2024

Communications & Services Steering Committee Meeting
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Center for Data Quality Committee Meeting
Thursday, June 27, 2024

GovFin 2024: Municipal Reporting Workshop
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