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JOBS Act Update: SEC Misses Rulemaking Deadline, But “the Wheels Are in Motion”

Posted on: July 6, 2012 by Chris MandersonNo Comments »

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.

Be Careful, Entrepreneurs: Crowdfunding Securities Offerings Aren’t Yet Legal

Posted on: April 29, 2012 by Chris Manderson2 Comments »

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.