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Thread: BREAKING NEWS: SEC Approves Equity Crowdfunding Proposal Unanimously

  1. #1
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    BREAKING NEWS: SEC Approves Equity Crowdfunding Proposal Unanimously

    Moments ago the SEC has voted all in favor of proposing a set of rules to regulate Equity crowdfunding in the United States. We have waited over 500 days for this day to come. The proposed rules will now be open to the general public for comments.

    Here are a few of the highlights of the rules proposed:


    • Amount an individual can invest will be based on the higher bracket one falls under between their net work and their income level
    • Allows non U.S. funding portals to register if they submit to on site examination
    • Business's registering to sell securities will need to keep an accurate list of security holders (Possibly hiring a Registered transfer agent)
    • The proposal does not require companies to verify income levels, but it asks the public to comment on this, leaving the issue unresolved for now, an SEC official said
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  2. #2
    Good news! Let's hope once the comments are in and assessed the SEC will move forward to put the rules in place.

  3. #3
    Any idea on how long the "public comments" period will be? (Generally is between 30 and 60 days)

  4. #4
    I got the answer in the ruling (last line): "The Commission will seek public comment on the proposed rules for 90 days. The Commission
    will then review the comments and determine whether to adopt the proposed rules"

  5. #5
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    This is great news for crowdfunding! Looking forward to the wave of new products that will hit the marketplace.

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    Here is some awesome commentary and opinions from some of the leaders in the industry. Some positive and negative opinions:
    http://www.bizjournals.com/sanjose/n...-analysis.html
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  7. #7
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    One catch is that only domestic companies can be funded under Title III (unlike Title II).

  8. #8
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    Yes the rules will be a bit sketchy. For instance will US citizens be permitted to invest into startups on say Seedrs or Crowdcube, both UK Platforms? That is yet to be seen, however I have a feeling eventually the answer will be "YES".
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