As Sequester Cuts Loom, Architects Urge SEC To Issue Rules on Crowdfunding

Letter to SEC Chairman Cites Missed Deadline and Lost Jobs                                                                            

Washington, D.C. – February 28, 2013 – The American Institute of Architects (AIA) today sent a letter to Securities & Exchange Commission Chairman Elisse Walter urging the agency to issue regulations for equity-based crowdfunding, citing the ability of this innovative financing tool to create jobs and maintain the current economic recovery.

“With the economic recovery still tenuous, any financial instrument that can help create jobs through new products, innovations and designs must be a top priority,” the letter states. A link to the entire letter can be found here.   

The AIA letter to the SEC chairman comes as federal agencies, including the SEC, face budget cuts due to "sequestration" – the automatic across-the-board spending cuts that are due to begin tomorrow. The letter expresses concern about sequestration and its impact on the economy and urges the SEC to act.

Crowdfunding, the practice of investing in projects through the use of a crowd-supported web based fundraising campaign, shows significant promise for attracting investors to smaller real estate projects and getting them off the architect’s drawing board, according to an AIA report issued earlier this month.  The report found that the amount of money generated by crowdfunding was close to $1.5 billion in 2011.

However, the SEC has yet to issue regulations for equity based crowdfunding as prescribed by Public Law 112-106, the JOBS Act. In fact, the agency has already missed Congress’ year-end deadline to write the Equity Crowdfunding regulations, “leading to additional delays and market uncertainty,” according to the letter.

“Architects and design professionals of every industry are awaiting these final regulations to further develop businesses and provide increased value to the American economy,” the letter states. “As our nation emerges from one of the worst economic downturns in recent history, it is imperative that the SEC fulfills its obligations and completes the writing of the rules necessary for this business financing tool to be put to use by the public.”  

A bout The American Institute of Architects
Founded in 1857, members of the American Institute of Architects consistently work to create more valuable, healthy, secure, and sustainable buildings, neighborhoods, and communities. Through nearly 300 state and local chapters, the AIA advocates for public policies that promote economic vitality and public well being. Members adhere to a code of ethics and conduct to ensure the highest professional standards. The AIA provides members with tools and resources to assist them in their careers and business as well as engaging civic and government leaders, and the public to find solutions to pressing issues facing our communities, institutions, nation and world. Visit

John Schneidawind
Email Contact


Review Article Be the first to review this article
Featured Video
Latest Blog Posts
Alex Carrick, Chief Economist at ConstructConnectThe AEC Lens
by Alex Carrick, Chief Economist at ConstructConnect
Total U.S. Put-in-place Construction to be -4.5% in 2020 versus 2019
Sanjay GangalNemetschek Group
by Sanjay Gangal
How BIM is Changing Bridge Engineering
Applications Programmer Analyst I for Southern Nevada Health District at Las Vegas, Nevada
Geographical Information Systems Analyst for Saalex Solutions at Fallon, Nevada
Applications Programmer Analyst II for Southern Nevada Health District at Las Vegas, Nevada
Upcoming Events
AEC Next Technology Expo + Conference (NEW DATE), at McCormick Place Chicago IL - Jul 27 - 29, 2020
ICBEST 2020 at The Westin Bayshore Vancouver Canada - Aug 31 - 2, 2020
Urban Regeneration and Sustainability 2nd Edition conference at University of East London, London, UK University Way London E16 2RD London United Kingdom - Sep 8 - 10, 2020
Digital Construction Week 2020 at Excel London United Kingdom - Oct 21 - 22, 2020
Kenesto: 30 day trial
Bentley: Livestream On Demand - Countless CAD add-ons, plug-ins and more.

© 2020 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
TechJobsCafe - Technical Jobs and Resumes EDACafe - Electronic Design Automation GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise