The Securities and Exchange Commission is proposing for comment new Regulation Crowdfunding under the Securities Act of 1933 and the Securities Exchange Act of 1934 to implement the requirements of Title III of the Jumpstart Our Business Startups Act. Regulation Crowdfunding would prescribe rules governing the offer and sale of securities under new Section 4(a)(6) of the Securities Act of 1933. The proposal also would provide a framework for the regulation of registered funding portals and brokers that issuers are required to use as intermediaries in the offer and sale of securities in reliance on Section 4(a)(6). In addition, the proposal would exempt securities sold pursuant to Section 4(a)(6) from the registration requirements of Section 12(g) of the Securities Exchange Act of 1934.


Federal Register, Volume 78 Issue 214 (Tuesday, November 5, 2013)

Federal Register Volume 78, Number 214 (Tuesday, November 5, 2013)

Proposed Rules

Pages 66427-66602

From the Federal Register Online via the Government Printing Office

FR Doc No: 2013-25355

Page 66427

Vol. 78


No. 214

November 5, 2013

Part II

Securities and Exchange Commission


17 CFR Parts 200, 227, 232 et al.

Crowdfunding; Proposed Rule