Split SEC Finalizes Crowdfunding Rules

Law360, New York (October 30, 2015, 2:36 PM EDT) -- A divided U.S. Securities and Exchange Commission on Friday passed long-awaited final rules on crowdfunding, setting the stage for startup companies to raise small amounts of capital online from mom-and-pop investors, and without some of the expense and hurdles of a formal, registered offering.

The new rules, approved on a 3-1 vote with Republican Commissioner Michael Piwowar dissenting, largely hew to the proposal the SEC issued two years ago. Among other things, the measures will let private companies raise up to $1 million over a 12-month...
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