Regulation Crowdfunding (Regulation CF) took effect on May 16, 2016. In line with the second anniversary of the implementation of the Regulation CF, the Heritage Foundation organized a discussion regarding the market. The host noted that approximately $112 million has been raised through crowdfunding since the effective date of Regulation CF. The panel considered possible amendments to, and improvements to, the crowdfunding framework. For example, the panelists recommended, among other things, (i) increasing to $3 million for the maximum amount that eligible companies may raise through crowdfunding, (ii) allowing financial review (instead of a full-blown audit) until a company raises $5 million, and (iii) streamlining the number of mandatory disclosures. The full discussion may be viewed here.