期刊名称：Michigan Business & Entrepreneurial Law Review
印刷版ISSN：2375-7523
出版年度：2014
卷号：3
期号：2
页码：231-255
出版社：University of Michigan Law School
摘要：Intermediaries in securities crowdfunding face significant requirements as a result of the statutory mandates of Title III of the JOBS Act. The SEC, in its proposed rules, provided structure to these requirements. The proposed rules would create strict requirements for intermediaries regarding their relationships with investors and how they undertake crowdfunding transactions under Section 4(a)(6) of the Securities Act. The proposed rules would also create and establish the guidelines for funding portals, a new type of limited purpose securities broker. While some commentators decry the SEC for placing undue burdens and legal liabilities on intermediaries in securities crowdfunding, the SEC had limited discretion in the proposed rules in regards to those issues. It is unclear what type of market will develop as a result of these rules as market participants work through the challenges and opportunities of securities crowdfunding.
关键词：Jumpstart Our Business Startups Act; Corporations; Businesses; Crowdfunding; Stocks; Intermediaries; Securities and Exchange Commission; Regulation
