The SEC Is About To Make Crowdfunding More Expensive 366
PapayaSF writes "Proposed new rules require that funding portals register with the Securities and Exchange Commission and the Financial Intermediary Regulatory Authority. In addition, investors must have access to a business plan, use of proceeds, a valuation of the company, and financials, so Certified Public Accountants may be needed. The SEC estimates that for amounts under $100,000, the fees will be 12.9% to 39% of the money raised, though it may drop to under 8% for higher amounts. Is this needed regulation, or bureaucratic overreach?"
Re:Overreach (Score:4, Funny)
Bureaucrats need jobs because their entire sense of self worth depends on being given a place to drive to and sit at.
Re:So the solution (Score:5, Funny)
Outsourcing crowdsourcing? What sourcery is this?
Re:Thanks Government (Score:4, Funny)
The first line of the "Background" section.
FFS. does anyone read the article anymore?