SEC: Intrastate Crowdfunding Update on Rule 147 (Document)

SEC view of the US Capitol Washington DCPublished below are the proposed amendments impacting Rule 147 and Rule 504 of Reg D which impacts intrastate crowdfunding.

The SEC stated its intent to refine what it means to be an intrastate offering and ease some of the issuer eligibility requirements in the current rule.

The proposal  states issuers may sell no more than $5 million of securities within a 12 month period.

The SEC welcomes public comment on the proposed change for 60 days. The Commission will then decide whether to adopt the proposed rules.