The SEC Is About To Make Crowdfunding More Expensive

Posted by Soulskill on Saturday January 4, 2014 @07:20PM from the another-pot-of-honey-they-can-dip-their-fingers-in dept.

PapayaSF writes "Proposed new rules require that funding portals register with the Securities and Exchange Commission and the Financial Intermediary Regulatory Authority. In addition, investors must have access to a business plan, use of proceeds, a valuation of the company, and financials, so Certified Public Accountants may be needed. The SEC estimates that for amounts under $100,000, the fees will be 12.9% to 39% of the money raised, though it may drop to under 8% for higher amounts. Is this needed regulation, or bureaucratic overreach?"

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Re:Overreach by Anonymous Coward · 2014-01-04 19:44 · Score: 4, Funny

Bureaucrats need jobs because their entire sense of self worth depends on being given a place to drive to and sit at.
Re:So the solution by lxs · 2014-01-04 19:49 · Score: 5, Funny

Outsourcing crowdsourcing? What sourcery is this?
Re:Thanks Government by Anonymous Coward · 2014-01-04 20:45 · Score: 4, Funny

The first line of the "Background" section.
FFS. does anyone read the article anymore?