Mary Jo White: Crowdfund Capital
on Friday, September 27, 2019Mary Jo White Money Quote saying that there is great interest in creating a new method to raise capital for business through crowdfunding by adapting SEC rules. Mary Jo White said:
“This rulemaking has generated tremendous interest from potential issuers, investors, and intermediaries. The more than 480 comment letters we received raised a number of important issues, focused on the best ways to protect investors while ensuring that securities-based crowdfunding is a workable path for raising capital by smaller companies” — Mary Jo White
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In this quote, Mary Jo White is referring to a rulemaking process around equity crowdfunding regulations. She notes there was massive interest from various stakeholders who would be impacted, as evidenced by the over 480 public comments received.
White acknowledges the comments “raised a number of important issues” and that the goal is finding the right regulatory approach to both “protect investors” from potential harms, while also ensuring securities-based crowdfunding is a “workable path” for small companies to raise capital through this new means.
Overall, the quote conveys White’s recognition that crafting effective regulation in this new area requires carefully considering diverse perspectives to balance investor protections with allowing the market to function, in order to benefit both participants and the broader economy.