Wall Street Looks Down on Crowd Funding

Steve Rattner, a private equity investor and lead advisor of the Obama Administration’s auto rescue group, finds crowd funding to be more risky than buying a lottery ticket, the Crowd Fund Act constituting “the greatest loosening of securities regulation in modern history.” He suggests that the SEC provide regulations on standardized disclosure for hedge fund issuers, particularly of performance and fees, similar to what is required of mutual funds.

Read Mr. Rattner’s views here:
http://opinionator.blogs.nytimes.com/2013/03/03/a-sneaky-way-to-deregulate/#more-140765

About JeffKoeppel

I am a corporate/securities attorney in the Washington, DC area. Prior to joining the firm, I was a Senior Attorney Advisor in the Division of Corporation Finance at the U.S. Securities and Exchange Commission. I am a member of the Bars of the States of Maryland, New York and the District of Columbia. You can also follow this blog on LinkedIn at: http://www.linkedin.com/pub/jeffrey-a-koeppel/0/63/5a9
This entry was posted in Congress, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, FINRA, Investments, Legislative Intent, SEC, Small Business, Venture Capital, Wall Street and tagged , , , , , , , , , , , , , , , , , , . Bookmark the permalink.

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