Summary
Given necessary time for each step of the rulemaking process, equity crowdfunding offerings will come online by the end of the summer 2013.
Description
I am optimistic because the parties that need to work together are working together and there is clearly momentum at the SEC and FINRA to get the necessary regulations made. We didn’t sign up for a quick process when we won the fight to add an exemption to long-standing securities doctrine.
I would like to put on my project manager hat for a minute and highlight why we won’t see crowdfunding portals, as defined separately from broker/dealers in the act, start conducting equity crowdfunding offerings until about this time next year.