SEC Coy on Timing of Final Crowdfunding Rules

Yesterday, the head of the Securities and Exchange Commission’s Division of Corporation Finance gave testimony to the House Committee on Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises with respect to the SEC’s progress on finalizing the rules for crowdfunding under the Crowd Fund Act of 2012.

Keith Higgins stated:

“In October 2013, the Commission proposed rules to implement Title III of the JOBS Act to provide a new exemption for the offer and sale of securities through crowdfunding, an evolving method to raise capital using the Internet.  The Commission has received over 300 comment letters and the Division is preparing recommendations for the Commission on final rules.”

No  indication of timing however.

 

http://www.sec.gov/News/Testimony/Detail/Testimony/1370542357516#.U9JRcPldWVN

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 Broker dealers, Congress, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, Film, FINRA, Funding Portals, Investments, Jobs, Legislative Intent, SEC, Small Business, Venture Capital, Wall Street and tagged , , , , , , , , , , , , , , , , , , , , , . Bookmark the permalink.

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