A few weeks ago, President Obama signed the JOBS Act into law, making equity-based crowdfunding legal for businesses that want to raise capital in smaller amounts than traditional venture capitalists or accredited investors supply. Depending on who you ask, crowdfunding is either going to democratize access to capital and serve as a boon to small businesses across America, or it will be rife with con artists intent on bilking seniors out of their hard-earned savings.
The Securities and Exchange Commission appears ready to extend a transition period for some private equity firms and other investment advisers required to register with the agency under provisions in the Dodd-Frank financial reform law.
Let the lending begin. Prosper, a popular Web portal that facilitates peer-to-peer loans, announced on Tuesday that it has been given the go-ahead by federal regulators to resume its lending platform in several U.S. states after wrapping up a detailed registration process with the Securities and Exchange Commission (SEC).