Crowdfunding Fans Getting Impatient with the SEC
The idea with the JOBS Act of 2012 was to have mechanisms in place for implementation of its various provisions by January 1, 2013. Didn’t happen. So crowdfunding enthusiasts are descending on the Capitol in an effort to push things along. While I’m lukewarm, so far anyway, about the whole practical effect of the crowdfunding provisions, one provision of the JOBS Act I am following with interest is the one that waives the prohibition against general solicitations in Reg D private placements, provided the transaction is ultimately closed with accredited investors.