Three years after Regulation Crowdfunding went into effect, advocates continue to call for improvements to the law, which made it easier for small companies to raise money from ordinary investors.
The latest call for action came in June in the form of policy recommendations outlined by the Association of Online Investment Platforms (AOIP), a group representing investment crowdfunding platforms. The group issued a policy paper detailing five major areas of improvement for Reg CF, the centerpiece of the 2012 JOBS Act. They include:
– raising the maximum offering size to $10 million from the current $1.07 million
– increasing the limits on how much investors may invest, and updating the accredited investor definition to reflect investor sophistication
– allowing more flexibility for funding portals, including in how they are compensated and giving them the ability to group investors into “special purpose vehicles”
– easing reporting and disclosure requirements for smaller issuers
– and creating an “innovation tax exemption” for small investors using Reg CF.[…]
The post Industry Group Calls for Changes to Regulation Crowdfunding appeared first on Locavesting.
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