Buckle your seat belts because there may soon be a wave of new indie
films produced under relaxed government regulations.The Securities and
Exchange Commission ("SEC"), after a long delay, has finally adopted
rules to permit companies to offer and sell securities through crowdfunding.
Several years overdue, the new Regulations for Crowdfunding are to implement
the requirements of the Jumpstart Our Business Startups Act ("JOBS
Act"), enacted on April 5, 2012…
The new crowdfunding rules and forms will be effective
180 days after they are published in the Federal Register. The forms enabling
funding portals to register with the Commission will be effective Jan. 29,
2016. Companies relying on the crowdfunding exemption are required to file an
annual report with the SEC and provide it to investors.
The SEC press release can be read here.You
can download the complete rules here.
Warning: they are 686 pages long.