SEC Boosts Intrastate Crowdfunding, But Hurdles Remain
Law360, New York (October 31, 2016, 8:52 PM EDT) -- The U.S. Securities and Exchange Commission's loosening of rules to encourage intrastate crowdfunding is a welcome step that reflects modern internet realities, attorneys say, though it's unclear how big a splash the rules will make in igniting tepid interest in intrastate deals.
SEC commissioners unanimously approved a new exemption, called Rule 147A, last week that would make offerings of intrastate crowdfunders accessible to out-of-state residents without running afoul of securities laws. The revisions, which also allow a more flexible interpretation of a business's home state, are part of a wider SEC push to modernize regulations for smaller issuers.
Though actual sales...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!