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- New SEC Reg CF Guidance (Updated Feb 17, 2026): Marketing That Won’t Get You in Trouble
New SEC Reg CF Guidance (Updated Feb 17, 2026): Marketing That Won’t Get You in Trouble
CrowdCheck’s breakdown of the latest SEC C&DIs—testing-the-waters legends, tight limits on off-platform “terms,” and why PR can become a compliance risk.
Sam Fiske
February 26, 2026 • Estimated Reading Time: 5 minutes
EDUCATION
Before You Promote Your Raise, Read This SEC Guidance
Marketing matters in Regulation Crowdfunding—but it’s also one of the fastest ways to create compliance risk if you say the wrong thing. CrowdCheck breaks down the SEC staff’s updated Regulation Crowdfunding guidance (C&DIs updated February 17, 2026) and what it means for how founders can promote a Reg CF raise.
Testing-the-waters is allowed (with required legends): you can gauge interest pre–Form C, but you need specific disclaimers—and you should expect to file those materials with the Form C.
Off-platform “terms” promotion is narrow: if you mention offering terms outside the platform’s communication channels, you’re generally limited to Rule 204(b)-style notice content (and yes, video can qualify if it sticks to the rules).
PR can become a problem: a third-party article can be treated like a Rule 204 notice if it includes offering terms and you (even indirectly) helped prepare it—making compliance difficult.
FOUNDER MARKET SNAPSHOT (JAN 26-FEB 2026)
Founder Market Pulse (Jan 26–Feb 25): The crowd committed $18.4M via Reg CF and $16.9M via Reg A+. StartEngine and DealMaker led CF by dollars (higher median checks), while Wefunder owned breadth (217 active companies). Healthcare and Media topped CF sector flows, and A+ was heavily driven by real-asset-style raises. See the platform-by-platform breakdown and what it means for your next round.
RAISE THE BAR: INVESTMENT CROWDFUNDING WEEK
Founders: here's what the best raises have in common
Most crowdfunding raises don't fail because of a bad product. They fail because founders underestimate what it takes to earn investor trust at scale — the messaging, the compliance, the momentum.
Investment Crowdfunding Week 2026 (April 13–15, free & virtual) was built to change that. Alongside 20 live company pitch sessions, we're hosting founder-focused sessions that go deep on the mechanics of a successful raise: how to communicate your opportunity, what keeps investors engaged, and how to stay on the right side of regulations as you scale your campaign.
If you're raising — or planning to — this is three days that could reshape your approach.
EVALUATE YOUR STARTUP OPPORTUNITY
Know Your Company’s Worth in Seconds.
Stop guessing what investors think—get an objective, data-driven valuation in minutes with Kingscrowd’s Startup Valuation Tool. Plug in a few key metrics, see how you stack up against 7,000+ online raises, and walk into your next pitch with confidence. Ready to benchmark your company’s true market value? Try the valuation tool for free.
FROM THE INSIDE STARTUP INVESTING PODCAST
The Easy Button for Injections
If you’ve ever seen someone hesitate with an auto-injector, you understand the core problem Pirouette Pharma is solving: intimidation and user error. This week on Inside Startup Investing, CEO Conor Cullinane breaks down Pirouette’s push-button, pocket-sized injection platform—built to turn today’s bulky, high-stress injection experience into something closer to a one-click “Easy Button.” We also dig into the operator-side reality: FDA engagement for a combination product, what an IND pharmacokinetic study requires (time + cost), and why Pirouette is investing early in manufacturing automation to support real commercialization and pharma partnerships.
