So you’re looking for alternative funding to expand your business and you’ve been thinking about crowdfunding? Hold that thought!
Excerpt from the Wall Street Journal:
The SEC is still hammering out its rules. The commission was given until January 2013 to set the rules, but is widely expected to miss that deadline. Agency Chairman Mary Schapiro will step down Friday, a move that is likely to delay the rule-making progress. An SEC spokesman declined to comment.
Finra, an independent regulator for all U.S. exchange markets and brokers, also was required under the JOBS Act to set its own equity crowdfunding rules. But unlike the SEC, it wasn’t given a deadline. In July, it sought public comment on a host of crowdfunding rules, including advertising, fraud and manipulation, and trading principles. Read more…