Policy Updates
Key updates from the SEC to JOBS Act2
Crowdfunding Rules, Nov 2, 2020
On November 2, 2020 the Securities and Exchange Commission approved amendments to JOBS Act Crowdfunding Regulation that facilitate raising startup capital for small and medium-sized businesses in the USA. Below are some key updates.
For more info visit the SEC’s website https://www.sec.gov/news/press-release/2020-273.
- RegCF limit raised from $1M to $5M.
- RegA+ limited raised from $50M to $75M.
- Reg 504D limited raised from $5M to $10M.
- Permitting issuers to “test-the-waters” prior to filing an offering document with the Commission.
- Permitting “demo day” communications that would not be deemed a general solicitation or general advertising.
- Accredited Investors no longer have investment limits in RegCF deals.
- Retail Investors can generally invest up to ~$5,500 annually.
- Up from $2,200 annually.
- Permitting the use of Special Purpose Vehicles to facilitate investing in Regulation Crowdfunding issuers.
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