The crowdfunding industry is frustrated that the Securities and Exchange Commission has not yet finalized rules that will potentially turbocharge the industry. But it is also cautiously optimistic that there will be movement this year.
The SEC is expected to finalize and implement rules on the provision of the Jumpstart Our Business Startups Act, known as the JOBS Act, which removes the ban on publically seeking investors by the end of June, according to Chance Barnett, the co-founder of Crowdfunder, a Venice, Calif.-based crowdfunding platform. Rules for the third component of the JOBS Act, which would make it possible to raise money on an online portal from non-accredited investors, are not expected until the third or fourth quarter of this year, Barnett says at a panel discussion in New York City Thursday.
To read the full, original article click on this link: JOBS Act, One Year Later: Hang Tight, Equity Crowdfunding Is Coming | Entrepreneur.com
