The Crowdfunding Proposed Rules

, New York Law Journal

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In her Securities Regulation column, Roberta S. Karmel of Brooklyn Law School writes: Crowdfunding means raising funds over the Internet for artistic, charitable and other ventures by seeking small individual contributions from a large number of people with input from the wisdom of the crowd. Those who hoped for an essentially regulation-free field where small business owners could use the Internet to attract investors will surely be disappointed. The SEC’s crowdfunding rule proposals run on for 175 pages in the Federal Register PDF version, and have more than 1,000 footnotes and almost 300 requests for comments.

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