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Securities and Exchange Commission Publishes Regulation Crowdfunding Compliance Guide for Small Entities

The United States Securities and Exchange Commission (SEC) has published a small entity compliance guidein anticipation of Monday’s (May 16, 2016) effectiveness of Regulation Crowdfunding. Final rules pertaining to Regulation Crowdfunding were approved by the SEC in October 2015 to implement the requirements of Title III of the Jumpstart Our Business Startups Act, which allows certain companies to offer and sell its securities through the use of crowdfunding.

Regulation Crowdfunding now enables eligible startups and small businesses to raise capital from its securities and sell to everyday citizens, or those non-accredited investors who generally make less than $200,000 per year and have a net worth less than $1 million (subject to certain limits). Specifically, eligible startups and small businesses may raise up to $1 million from non-accredited investors via standard broker-dealers or registered crowdfunding portals within a 12-month period.

For a broader discussion of Regulation Crowdfunding and its rules, please see our previous client alert, SEC Finally Adopts Final Rules on Crowdfunding.

©2023 MICHAEL BEST & FRIEDRICH LLPNational Law Review, Volume VI, Number 137

About this Author

Daniel J. Gawronski, Corporate Attorney, mergers, acquisition, Michael Best Law FIrm

Dan is an approachable, energetic and trusted associate with a practice focusing on general business and other corporate matters. Dan counsels corporate clients of all sizes and brings a broad range of experience to his practice in corporate law, including:

  • Corporate planning and formation

  • Commercial contracting and negotiation 

  • Mergers and acquisitions

  • Venture capital and angel fundraising


Michael H. Altman, transactional lawyer, corporate mergers attorney, Milwaukee Law firm

Clients across multiple industries turn to Michael to coordinate their more complex business transactions. They value his quick assessment of issues and their implications, as well as his creative yet effective solutions to the many issues that arise during the course of a transaction.

Michael’s practice focuses on mergers and acquisitions, buyout transactions, securities regulation, and venture capital investment transactions. Both buyers and sellers, as well as issuers and shareholders, benefit from Michael’s counsel. Michael maintains a diverse business law practice, which...