The SEC has announced that it is going to have a meeting next Wednesday, October 26, 2016, at 10:00 a.m. Eastern Time to consider whether to adopt rule amendments to facilitate intrastate crowdfunding offerings.
The SEC might adopt an entirely new exemption for intrastate crowdfunding offerings. The trouble with the current intrastate crowdfunding legal landscape is that Section 3(a)(11), the statutory basis for almost all state equity crowdfunding statutes, imposes unreasonable burdens on intrastate offerings.
It will be fun to see what the SEC does. We will keep you posted. If you want to tune in and watch the SEC hearing yourself, it should be on the sec.gov web site next Wednesday morning.
The proposed rules and comments to them can be found here:
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