SEC Chairman Mary Schapiro recently told Congress it was “not feasible” to meet the JOBS Act’s 90-day deadline for the implementation of changes to Securities Act Rule 506 to permit general solicitation in private placements to accredited investors.
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Until SEC rule-making is complete the crowdfunding exemption under Section 4(6) is not available for offers and sales of securities. Nonetheless, equity crowdfunding offers are already easy to find on Twitter.
Securities & Exchange Commission Chairman Mary Schapiro mailed what is certain to be a widely-debated letter to Rep. Darrell Issa (R-Calif.) earlier this week. I don’t know if you’ve read it. The headline news came out Friday in a Wall Street Journal piece noting that Schapiro (pictured) is rethinking the crucial 500-investor threshold rule. This [...]