BizTech Law Blog
The Lansing Chapter of the Michigan Technology Network (MITN) is teaming up with DemoCamp for a holiday tech event. Sponsored by Foster Swift, DemoCamp Lansing will bring together local programmers, entrepreneurs and community members to show off cool products and websites and to learn about new technology. This relaxed and casual event is free and will be held at the Michigan Historical Museum on Wednesday, December 12, 2012 at 5:30pm.
The SEC has a very large task ahead of it in order to complete adoption of the regulations required under the JOBS Act.
One provision of the JOBS Act permits general solicitation of investors by a company if only accredited investors are allowed to invest. This will permit the use of a web portal or other electronic platform for the solicitation of accredited investors. Congress gave the SEC a deadline of July 4, 2012 to adopt regulations specifying the steps a company is required to take in order to clearly establish that each investor is accredited. The SEC proposed these regulations on August 29, 2012. Because the SEC had invited comments before the proposed regulations were issued and those comments were factored into the proposed regulations, we had anticipated that final regulations would issue soon after expiration of the comment period.
