Countdown To Crowdfunding

As almost everyone knows who has been tracking federal regulation of equity crowdfunding since the passage of the JOBS Act, the Securities and Exchange Commission has at long last approved the final rules for what they have called "Regulation Crowdfunding." The actual document describing the commission's findings and the text of the new rules clocks in at 686 pages. Even though the SEC has been considering these rules for more than three years, the decision was not unanimous. Tensions continue between those who believe the rules need to emphasize investor protection and those who fear that the rules create burdensome obstacles that may defeat the purpose of crowd-sourced financing. One SEC commissioner acknowledged that the new law is an "experiment."