In October, the Securities and Exchange Commission promulgated draft rules to implement “crowdfunding” in securities sales.
Release 33-9470’s length (almost 600 pages) suggests that the simple idea contained in the 2012 JOBS Act — that ordinary middle-class “Joe” should be able to purchase valuable shares of start-up companies, just like big boys do — is not so simple.
Originally published in Massachusetts Lawyers Weekly on December 2, 2013.
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