Previous Feature: The Clinton Crisis NEW YORK — The Clinton Global Initiative’s blend of government and private-sector effort has helped millions of people worldwide, former President Bill Clinton said Sunday, highlighting the philanthropic network’s accomplishments at a time when his family’s charitable efforts have come under scrutiny. The 10-year-old initiative has facilitated programs that aided crowdfunding more than 430 million people in 180 countries, with government, private and civil-society entities working together in 90 percent of the programs, he said at the initiative’s annual meeting. “There are some people who don’t understand it or question whether it’s a good idea,” the Democratic former president said. Because of the initiative, 46 million children have better educational opportunities, more than 110 million women and children have better access to health care, and clean drinking water is more available to more than 27 million people, he said. The initiative gets corporations and governments to channel money into projects meant to solve international problems, without direct donations from its parent organization, the Clinton Foundation. The foundation has raised more than $2 billion since 2001 to fight poverty, global warming, AIDS, childhood obesity and other problems. But amid Hillary Rodham Clinton’s presidential campaign, the foundation has faced questions this year about foreign donors and other aspects of its fundraising. The Clintons have denied any improprieties and have said the criticism amounts to election-season attacks.
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Today’s Challenges For Quick Plans Of Crowdfunding
The underlying rationale of the equity-based crowdfunding rules is the prevention of fraud. To that end, among other things, companies will be required to prepare disclosure documents detailing the terms of the offering, the risks involved and information about the company and management. In addition, companies will have to provide financial statements that in some cases will need to be audited. The time and cost of hiring professionals to prepare these documents is likely to be in the thousands or even tens of thousands of dollars not to mention other costs such as fees of the crowdfunding platform that will host the offering. 4 Crowdfunding will create significant legal exposure for companies and their management If a company undertakes the task of drafting the disclosure documents themselves to save on costs, the likely byproduct of which is sloppy drafting, then there is an increased risk of getting sued for having misled investors. This risk is compounded threefold. First, by the JOBS Act itself that makes available an investor-friendly remedy against a company and its management for material misstatements and omissions.
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