And Now for the SEC Update on Investment Crowdfunding . . . Bueller . . . Bueller . . . Bueller . . .

Well, after the SEC’s much anticipated Annual Government-Business Forum on Small Business Capital Formation yesterday, I’d hoped to post something of value regarding the state of the SEC’s effort to write the rules necessary for Title II and Title III crowdfunding.  After all, there was a fair amount of build-up that this event would be THE forum for an SEC update as to timing and substance of pending regulations and the title of the opening session was “JOBS Act Implementation.”  The update on implementation is: no update.  After spending most of yesterday listening by webcast and teleconference and exactly one week in advance of Thanksgiving, I am most thankful that I did not waste money on a flight to Washington.  Standing ready to take notes on the most important information, my computer screen was essentially blank at the end of the day.  Being much more diligent than I (and undoubtedly a better typist), Bill Carleton has an excellent live blog summary here.  My summary of the SEC position is rather simple: There are lots of issues. We are working on those issues. We do not know when we will get through the issues.  We will get back to you.  Stay Tuned.

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