JOBS Act Title III crowdfunding moves closer to reality
On 23 October 2013, the Securities and Exchange Commission (SEC) voted unanimously to propose Regulation Crowdfunding, the rules related to the offer and sale of securities through crowd-funded private offerings, as set forth in Title III of the Jumpstart Our Business Startups (JOBS) Act. FINRA then published its proposed rules governing the licensing and regulation of so-called ‘funding portals’, a new type of limited-purpose regulated intermediary solely for these offerings. Crowdfunding itself is not new. Websites such as Kickstarter and IndieGoGo help all sorts of businesses, organisations and people raise money through small individual contributions for an identifiable idea or business.
Until the JOBS Act, however, crowdfunding could not be used to offer or sell securities to the general public. Issuers and intermediaries relying on Regulation Crowdfunding expect to further democratise investing in start-ups, because any investor, whether or not accredited, may invest in these securities…
If you are registered and logged in to the site, click on the link below to read the rest of the Debevoise & Plimpton briefing. If not, please register or sign in with your details below.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from The Lawyer
Briefings from Debevoise & Plimpton
This client update focuses on the examination priorities that are most relevant to investment advisers to private equity and hedge funds.
Debevoise & Plimption has published its FCPA Update for January 2013. The lead article concerns anti-corruption compliance in 2013.
Analysis from The Lawyer
Shell legal director Peter Rees is switching litigation control away from external counsel to a unified global team of in-housers