On Wednesday, October 23rd, the Securities and Exchange Commission released a crowdfunding proposal for comment. Below is a statement from Steve Case on this proposal.
“I’m pleased that the SEC has taken this step to implement the bipartisan JOBS Act. The rules bring us closer to the day when start-ups can access capital more easily, and small investors can have a chance – now enjoyed only by venture capitalists and elite players – to get in on the ground floor of great new companies. I worry that some of the restrictions in these rules will make it hard for crowdfunding to have the full impact that it should have, but I hope that these concerns can be worked as we move forward. We need to strike the right balance between democractizing investment and protecting investors, and that remains a work in progress.”