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Oct 30, 2015 4:31 EST

Breaking News: Today US SEC voted YES to the Equity Crowdfunding Law of the JOBS Act!

iCrowdNewswire - Oct 30, 2015

 

The Securities and Exchange Commission (SEC) convened at a meeting today, 30 October 2015 and voted YES, 3 to 1,   to the long awaited final law of the Jumpstart Our Business Startups (JOBS) Act on equity crowdfunding.  Three Commissioners of the SEC – Chair White, Stein and Aguilar – voted yes to the equity crowdfunding law. The Commission voted yes to: 1) Title III of the Jumpstart Our Business Startups Act, and 2) Proposed amendments to Securities Act Rule 147 and Rule 504.

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First meeting of Crowdfunding Intermediary Regulatory Advocates (CFIRA) founders with Financial Industry Regulatory Authority  (FINRA) on 20 April 2012.   From left to right: Vincent Molinari (Gate Tech), David Drake (LDJ Capital and The Soho Loft),   Jason Best (Startup Exemption)  and Sherwood Neiss (Startup Exemption) 

Photo credit:  The Soho Loft

This rule opens the floodgates to online capital raising by removing the barrier that had allowed only the accredited investors to participate in online investments. The SEC made it possible for individuals  to solicit  for their projects when it approved Titles II and IV on  13 September 2013 and 25 March 2015, respectively, but these rules had excluded non-accredited investors.  

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First meeting of CFIRA with SEC  on 20 April 2012. From left to right:  DJ Paul (Crowdfunder), Sherwood Neiss (Startup Exemption), Chance Barnett (Crowdfunder), and Candace Klein (SoMoLend).

Photo credit:  The Soho Loft

With the adoption of the rules governing Title III, the amount of money that is possible to be raised across investment schemes will be significantly increased, especially in the real estate crowdfunding sector where there has been significant growth in recent times.

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First meeting of Crowdfunding Intermediary Regulatory Advocates (CFIRA) with SEC on 20 April 2012, from left to right Vince Molinari (Gate Tech), Brian Meece (RocketHub), Douglas Ellenoff, hidden (Ellenoff Grossman & Schole LLP),  D.J. Paul (Crowdfunder), Candace Klein (SoMoLend), Jason Best (Startup Exemption), David Drake (LDJ Capital and The Soho Loft), Chance Barnett (Crowdfunder)  and Alon Hillel-Tuch (RocketHub)

Photo credit: The Soho Loft

In December 2012, David Drake, Chairman of LDJ Capital, The Soho Loft Media Group and Victoria Global,  predicted that  this equity crowdfunding law will take more than 3 years before it is approved.  Now that the United States approved the equity crowdfunding law of the JOBS Act, it becomes the second nation after Italy, with a specific crowdfunding law.

 

 

MEDIA CONTACT:

 

THE SOHO LOFT Media Group (www.thesoholoft.com)

The Soho Loft Media Group is a global financial media company with 3 divisions:

TIMES IMPACT PUBLICATIONS produces relevant content on investing and entrepreneurship that are published and syndicated in 100+ leading online publications and growing.

 

THE SOHO LOFT CONFERENCES organizes up to 200+ investor-focused global summits, talks and events annually.

 

VICTORIA GLOBAL Corporate Communications specializes in client Investor Relations, Public Relations, Branding and Social Media Marketing.

 

The Soho Loft Media Group is your global partner for your investment and business strategies.

 

For inquiries, contact [email protected] or call 212.845.9652

 

Contact Information:

David Drake
[email protected]

Via iCrowdNewswire
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