A group on Maui has been brainstorming and doing some research on creating a local stock exchange.
The original part of this is to create a more open match making entity using the SEC's intra-state exception to do direct public offerings. This would create a more open process and allow non-wealthy to also engage in making small investments, plus provide liquidity to those making early investments.
State Senator Roz Baker has introduced a resolution, SCR134 to create a study group to look at creating such an exchange.
While there are several exchanges under development, there are none operating right now, at least in the U.S. So this would truly be innovative. We used to have a Honolulu exchange which traded local stocks, but it like many other local exchanges fell by the wayside. There are several interesting articles and two books coming out in June on local exchanges. One of these articles is linked to at the website.
Please check out the website that we have created: HILocalExchange.org, like our Facebook site "Developing a Hawaii Local Exchange" (tried to include the FB code). There you will find a white paper that we have written along with other resources, articles, and links.
And if you think this is interesting and should go forward, please let the legislature know by clickingthis link
If you have your own resources, questions, suggestions, etc. feel free to post here, send to me privately, or post on FB.