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If I'm reading things correctly, people who don't qualify as an accredited investor (or prefer not to state) are unable to invest until sometime in this Summer
by jcr 14y ago
If I'm reading things correctly, people who don't qualify
as an accredited investor (or prefer not to state) are
unable to invest until sometime in this Summer 2013 when
the SEC enacts Title III of the JOBS Act.
Is this correct?
- npt4279 14y agoThat is correct. The SEC was told by Congress to implement the entire JOBS Act in January 2013, but they are behind schedule.
- jcr 14y agoThanks! I think it's just brilliant how wefunder is executing on a fundamental market change (by legislation) so quickly. I remember reading about the JOBS Act, but at the time, I really didn't grap what it meant. You did. Had things gone as dictated by Congress, your currently great situation would be even better.
- niggler 14y agoThe parts that apply to accredited investors (like hedge funds advertising) are supposed to be in effect come summer, but the parts pertaining to crowdfunding won't be in effect until early 2014 To explain why, Mary Shapiro has left and the new SEC chairwoman Elisse Walter has yet to join the spot. Once she does, SEC has 270 days, which puts us in early 2014.