标题：Real Estate Crowdfunding – Modern Trend or Restructured Investment Model?: Have the SEC’s Proposed Rules on Crowdfunding Created a Closed-market System?
期刊名称：The Journal of Business, Entrepreneurship & the Law
出版年度：2016
卷号：9
期号：1
页码：21-58
出版社：Pepperdine University
摘要：Crowdfunding is one of the fastest growing and most controversial segments of online purchasing and investing. Crowdfunding projects have been increasingly geared towards real estate development and are changing the scope of investment by enabling developers to solicit securities-based funding from the public. When the Securities and Exchange Commission (SEC) proposed its rules to allow crowdfunding under the Jumpstart Our Business Startups (JOBS) Act, it raised the issue of whether crowdfunding would be a viable option for building and owning large-scale projects. Offering developers new ways to finance projects, small investors a way in, and the socially conscious an avenue to support local communities, crowdfunding seems to have created a temporary boon to our economy. However, the legislative impacts on financial reform and securities law, as well as the economic impacts on investors and future development remain at the forefront of debate.
关键词：real estate; crowdfunding; SEC; Securities and Exchange Commission; real estate securities; JOBS Act; Jumpstart Our Business Startups Act; closed-market
