500+ days later, and Title III remains a far-off reality. Eagerly approaching fourth quarter 2014, we must persevere as an industry and strengthen our advocacy, lobbying and engagement with regulators.
A key feature of the JOBS Act was Title III, with the intent to reduce the burdens and hurdles for U.S. startups and entrepreneurs, to gain access to critical new sources of capital from non-accredited investors. The Securities and Exchange Commission (SEC) was required by congress to promulgate rules relating to these "crowdfunding" provisions by the end of 2012. Industry leading advocates and thought leaders are encouraging funding platforms, service providers, investors and entrepreneurs to write letters to the Securities and Exchange Commission requesting the release and support of issuing final rules for Title III. A letter that has been submitted by members of Congress can be seen here: file://localhost/Users/kimwales/Dropbox/Congress Members Title III - Template.pdf. As a reminder, please send your comments to email@example.com, citing File S7-09-13.