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SEC Proposes Crowdfunding Rules Under JOBS Act



by Michael D. Morehead
Hinshaw & Culbertson LLP - Springfield Office

Timothy M. Sullivan
Hinshaw & Culbertson LLP - Chicago Office

December 13, 2013

Previously published on December 11, 2013

Congress enacted the JOBS Act in April of 2012. The JOBS Act added Sections 4(a)(6) and 4A to the Securities Act of 1933 (the “1933 Act”). These provisions directed the SEC to adopt rules to exempt crowdfunding offerings from registration under the securities laws. The SEC released its proposed crowdfunding rules a few weeks ago. Comments are due on the crowdfunding rules on February 3, 2014. We anticipate that these rules will be finalized in the second quarter of 2014.


 

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