And the Coming Local Capital Revolution The End of Wall Street.
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Transcript of And the Coming Local Capital Revolution The End of Wall Street.
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And the Coming Local Capital
Revolution
The End of Wall Street
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The Competitiveness of Small
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Self-Employees<100 Employees100-499 Employees500+ Employees
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Our Current Investment Strategy
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Investment Apartheid
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The Impact of $15 Trillion Shift
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How Can We End Wall Street’s Free Ride?
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The Revolution Evolution
Local
Securities
Local Exchanges
Local Funds
Pensions
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The JOBS Act5 April 2012
• <$1 million
• <$100k $2k/5%
• >$100k 10%
• Portal Required
• State Preemption
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Community PortalProposed Regulations
• BD or Portal Operator
• Success Fee
• License from SEC & FINRA
• Annual Cost– SEC: $417k– Mission Markets: $100k
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Status Report
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Tasks for Community Portal
• Entrepreneurship Ecosystem
• Facilitate Information
• Mobilize Investors
• Mobilize Businesses
• Transactions (Pending)
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What’s Next?
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Next State Reforms
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(1) Municipal Markets
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List Self-Directed IRA Agents
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(2) The $100 Exemption
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(3) Local Stock Exchange
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(4) Community Investment Funds
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The Nova Scotia Model
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(5) Tax Credit
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One Simple Federal Ask (That the SEC Can’t Refuse)
“Hey…what stays intra-state…ain’t none of your damn business….”
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For More Information:
Michael Shuman
www.michaelhshuman.com