Having problems going to sleep?  Forget Ambien and all those other products that make you do funny things like frying eggs in the middle of the night and not knowing you’re doing it, or jumping on a road grader and creating a new road through your neighborhood.  Now you don’t have to leave your cozy bed.  Just take a copy of the newly-published SEC rules on crowdfunding – all roughly 585 pages of it, to bed with you.  If that doesn’t put you right to sleep then you need more than Ambien.

To be fair, I have not read it nor do I intend to.  I have no trouble going to sleep, and there are plenty of sleep-deprived people who love to read this stuff and will provide the important information that the rest of us need.

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During the week of 10/23/13 the SEC issued its crowdfunding rules for small businesses to raise capital on the internet.  Doing it, on the other hand, is not going to be easy.

Two of the primary goals of the securities laws are to provide full and fair disclosure to investors and to prevent fraud.  Up to this point companies haven’t had to disclose much information to potential investors.  Under the proposed rules, companies would have to regularly file certain information with U.S. market regulators, and provide it to their investors and the platform or “online portal” facilitating the offering.

The proposed rules are open for comment for 90 days before the commission votes on the final rules.  This is just the beginning.  Lots more to come.

 

 

 

 

 

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