Crowdfund Up to $2 Million Soon In DC

The D.C. Department of Insurance, Securities and Banking today issued proposed rulemaking that seeks to facilitate crowdfunding-type investments and encourage capital raising opportunities by D.C. residents for D.C.-based small businesses.

To qualify for the exemption, the business must be organized under D.C. law, have its principal place of business in the District and the securities in the offering must be offered only to D.C. residents.

The proposed method of funding (up to $2 million) will be available only to D.C.-based businesses, and the offerings must be in compliance with the limitations on intrastate offerings under the federal Securities Act of 1933 and the implementing regulation.

http://www.dcregs.dc.gov/Gateway/NoticeHome.aspx?noticeid=5031504

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, FINRA, Funding Portals, Investments, Jobs, Legislative Intent, SEC, Small Business, Venture Capital and tagged , , , , , , , , , , , , , , , , , , , , , , . Bookmark the permalink.

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