PapayaSF writes: Proposed new rules require that funding portals register with the Securities and Exchange Commission (SEC) and the Financial Intermediary Regulatory Authority (FINRA). In addition, investors must have access to a business plan, use of proceeds, a valuation of the company, and financials, so CPAs may 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?
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