The Securities and Exchange Commission will vote Friday on final equity crowdfunding rules under Title III of the Jumpstart Our Business Startups (JOBS) Act, as well as update rules on instrastate crowdfunding.
The Commission will consider whether to adopt rules and forms related to the offer and sale of securities through crowdfunding under Section 4(a)(6) of the Securities Act of 1933, as mandated by Title III of the JOBS Act.
The forthcoming Title III rule is often referred to as “retail crowdfunding” because it will allow nonaccredited investors to invest in offerings of up to $1 million.
The Commission will consider on Friday whether to propose amendments to Securities Act Rule 147 and Rule 504.
SEC Chairwoman Mary Jo White said in June that the agency is looking at ways to allow states to more easily participate in intrastate crowdfunding initiatives.
White noted in June at a meeting of the SEC Investor Advisory Committee that more than 20 states have enacted some form of intrastate crowdfunding legislation or rules, with a number of others considering similar initiatives.