JOBS Act: Crowdfunding Summary
This Note summarizes key provisions of the Jumpstart Our Business Startups (JOBS) Act relating to crowdfunding. The crowdfunding portion of the JOBS Act amends the Securities Act to add a new registration exemption intended to allow capital raising from a large number of people in relatively small amounts through the internet and social media. On October 23, 2013, the SEC issued proposed rules and forms that would implement the crowdfunding provisions of the JOBS Act. This resource is not maintained to reflect the proposal. For updated information on crowdfunding, see Practice Note, Crowdfunding Offerings Under Section 4(a)(6).