At an open meeting on March 25, 2015, the Securities and Exchange Commission (SEC) approved a proposal that will finalize the bulk of the rulemaking left to the agency to create the Jumpstart Our Business Startups (JOBS) Act of 2012. The proposal finalizes Title IV of the JOBS Act, creating what many are calling ‘Regulation A+’ as it enhances the existing Regulation A. The proposal is favorable to small businesses who want to raise capital through crowdfunding with decreased administrative burdens. There are still questions to be answered about federal preemption of state regulations, and the classes of investors permitted to participate. Once the proposal is published in the Federal Register, the public will have 60 days to review and comment.
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