Regulation Crowdfunding

E53089

U.S. securities exemption crowdfunding exemption

Regulation Crowdfunding is a U.S. securities exemption that allows small businesses and startups to raise limited amounts of capital from a large number of investors, including non-accredited investors, through registered online funding portals or broker-dealers.

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Observed surface forms (2)

Surface form	Occurrences
17 CFR § 227 (Regulation Crowdfunding)	1
Regulation Crowdfunding (Reg CF)	1

Statements (49)

Predicate	Object
instanceOf	U.S. securities exemption ⓘ crowdfunding exemption ⓘ
administeredBy	Financial Industry Regulatory Authority ⓘ Securities and Exchange Commission ⓘ surface form: U.S. Securities and Exchange Commission
allows	issuers to communicate with investors through the intermediary’s platform ⓘ issuers to raise capital from a large number of investors ⓘ participation by non-accredited investors ⓘ
codifiedIn	Regulation Crowdfunding self-linksurface differs ⓘ surface form: Regulation Crowdfunding (Reg CF)
effectiveDate	2016-05-16 ⓘ
enables	equity crowdfunding in the United States ⓘ
enactedUnder	Jumpstart Our Business Startups Act ⓘ Jumpstart Our Business Startups Act ⓘ surface form: Title III of the JOBS Act
excludes	blank check companies ⓘ investment companies ⓘ non-U.S. issuers ⓘ reporting companies under the Exchange Act ⓘ
implementedBy	SEC final rules on Regulation Crowdfunding ⓘ
imposes	annual offering limits on issuers ⓘ investment limits on individual investors ⓘ issuer eligibility requirements ⓘ
intermediaryTypes	registered broker-dealer ⓘ registered funding portal ⓘ
investorProtectionMeasures	intermediary obligations to reduce fraud risk ⓘ investment caps based on income and net worth ⓘ mandatory disclosures ⓘ
jurisdiction	United States of America ⓘ surface form: United States
language	English ⓘ
legalBasis	Section 4(a)(6) of the Securities Act of 1933 ⓘ
offeringLimitPer12Months	5000000 USD ⓘ
offeringLimitPer12MonthsEffectiveDate	2021-03-15 ⓘ
previousOfferingLimitChangeDate	2017-01-01 ⓘ
previousOfferingLimitPer12Months	1070000 USD ⓘ
purpose	to allow non-accredited investors to invest in private companies ⓘ to facilitate capital raising by small businesses and startups ⓘ
regulates	online securities crowdfunding offerings ⓘ
regulatorRuleCitation	Regulation Crowdfunding self-linksurface differs ⓘ surface form: 17 CFR § 227 (Regulation Crowdfunding)
relatedTo	Regulation A ⓘ Regulation A ⓘ surface form: Regulation A+ Regulation D ⓘ Jumpstart Our Business Startups Act ⓘ surface form: Title II of the JOBS Act Jumpstart Our Business Startups Act ⓘ surface form: Title IV of the JOBS Act
requires	disclosure of information about the issuer and the offering ⓘ filing of Form C with the SEC ⓘ ongoing annual reporting for certain issuers ⓘ use of a registered funding portal or broker-dealer ⓘ use of an intermediary that provides an online platform ⓘ
restricts	advertising of the terms of the offering ⓘ
sector	small business capital formation ⓘ startup financing ⓘ

Referenced by (3)

Full triples — surface form annotated when it differs from this entity's canonical label.

Regulation Crowdfunding → codifiedIn → Regulation Crowdfunding self-linksurface differs ⓘ

this entity surface form: Regulation Crowdfunding (Reg CF)

Regulation A → contrastWith → Regulation Crowdfunding ⓘ

Regulation Crowdfunding → regulatorRuleCitation → Regulation Crowdfunding self-linksurface differs ⓘ

this entity surface form: 17 CFR § 227 (Regulation Crowdfunding)