Regulatory Alerts2020-05-07 | 2020-09806Added
Temporary Amendments to Regulation Crowdfunding
The Securities and Exchange Commission adopted temporary final rules to facilitate capital formation for small businesses impacted by the coronavirus disease 2019 (COVID-19). These amendments provide tailored relief from certain Regulation Crowdfunding requirements, including allowing the omission of financial statements from initial filings and permitting earlier closing of offerings once target amounts are met. The rules apply to offerings initiated between May 4, 2020, and August 31, 2020, and require issuers to meet enhanced eligibility criteria such as being organized and operating for at least six months.
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