The Securities and Exchange Commission has voted unanimously to propose rules under the JOBS Act allowing companies to offer and sell securities through crowdfunding.
Crowdfunding describes a way to raise funds through the Internet for different types of projects, including innovative product ideas and artistic works such as movies or music, as on the sites Kickstarter and Indiegogo. Title III of the JOBS Act created an exemption under the securities laws so that this type of funding method could be used to offer and sell securities as well. The JOBS Act also established the foundation for a regulatory structure for this funding method.
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