BUFFALO, N.Y., Jan. 6, 2014 (GLOBE NEWSWIRE) -- CrowdBouncer announced today the launch of a web application for its accredited investor verification services targeted at attorneys and other professionals involved in the due diligence phase of capital raises. The web application offers a user interface through which individuals can manually process accredited investor verifications as an alternative to implementation of CrowdBouncer's flagship enterprise application programming interface (API).
In September 2013, new rules went into effect that allow startups and other companies raising capital to publicly advertise their offerings over the internet, provided that all investors participating in the offering meet the definition of an "accredited investor." Among other qualifying criteria, accredited investors are those that have earned $200,000 or more in the previous two years (or $300,000 jointly with a spouse) and reasonably expect to earn $200,000 or more in the current tax year. CrowdBouncer offers an automated and secure accredited investor verification product that requires no manual review of financial documentation and that also combines multiple-factor identity authentication and anti-money laundering screening.
"While our API implementation remains the gold standard for integration of our accredited investor verification services, we developed a web application for manual processing of these transactions in response to the steady demand from attorneys and other organizations looking for an easy and reliable way to accomplish this need for their clients," said Bob Carbone, the company's founder and CEO. "Given concerns around attorney certification of accredited status being relied upon as an opinion letter, our attorney customers can now rely upon our software to quickly and inexpensively perform these verifications on behalf of their clients."
About CrowdBouncer
CrowdBouncer is a Platform-as-a-Service (PaaS) solution for JOBS Act compliance and back-end transactional processing for broker-dealers, equity crowdfunding portals and other financial institutions. CrowdBouncer's API-driven solution provides equity crowdfunding portals with tools to institute compliance controls and integrate back-end closing processes.
Firms and intermediaries may contact CrowdBouncer CEO Bob Carbone directly or via their website.
The materials on this document are provided for informational purposes only and do not constitute legal advice. The information is offered only for general informational and educational purposes. It is not offered as and does not constitute legal advice or legal opinions.