Amid all the excitement over the JOBS Act’s creation of an exemption for crowdfunding, few have noticed that crowdfunding securities offerings are not yet lawful under the Securities Laws. While the JOBS Act did create a new exemption from registration for crowdfunding under Section 4(6) of the Securities Act, the SEC has been given a 270-day mandate to create and implement rules governing crowdfunding by sale of securities. This mandate runs until Dec. 31, 2012, so crowdfunded securities offerings will not be lawful until late 2012 or even 2013, depending on when the SEC adopts the necessary rules.
To read the full, original article click on this link: Be Careful, Entrepreneurs: Crowdfunding Securities Offerings Aren't Yet Legal | peHUBpeHUB
