On October 30, 2015, the U.S. Securities and Exchange Commission (SEC) voted on and adopted Title III of the JOBS Act (Jumpstart Our Business Startups Act). The JOBS Act is intended to encourage small business startup funding by simplifying federal regulations and thus permitting individuals to become investors.
Title III of this Act creates a federal exemption under the securities laws so that companies are permitted to offer and sell securities by crowdfunding which allows for non-accredited investors. These new rules will become effective 180 days following the publication in the Federal Register. The SEC states the forms which will enable funding portals to register with the Commission will be effective January 29, 2016.
Thank you for taking the time to consider Hunter Business Law to assist you with your legal needs. We appreciate you reaching out to our firm. However, due to our commitment to current client matters and to ensure we are meeting the needs of our existing client base, we are unable to onboard any new clients at this time. Again, we appreciate you reaching out, and we wish you the best of luck with your venture!