At long last, the SEC has voted unanimously in favor of the proposed crowdfunding rules under Title III of the JOBS Act. This is a major development in how companies will be able to raise capital in the private securities market, allowing unaccredited investors (the general public) to invest in startups through online investment portals.

Remember, crowdfunding rules aren’t final. There’s still an open comment period during which everyone is welcome to submit opinions once the proposed rules are posted on For the SEC’s Fact Sheet regarding the proposed crowdfunding rules you can go here.

This is a monumental step towards democratizing startup finance!

What You Can Do
Now we enter a public comment period (and we encourage everyone to submit comments).  The SEC has expressed a long list of questions that they hope will be further clarified by public comments from both startup founders as well as investors that are excited to participate in this new investment regime.
Send us your thoughts and we’ll make sure to incorporate your feedback into our comment letters. You should also go directly and share your comments with the SEC on Title III here.
What We Are Going To Do

Return on Change is going to work actively with the SEC to make sure that the new marketplace will have all the appropriate protective measures while making it as seamless as possible for startup founders to raise capital.
Through our activities with CF50 as well as CFIRA, we are going to be very active in educating investors and optimizing the online investing experience once the floodgates open.
It’s still going to be some time before crowdfunding will be permitted, but we will keep you updated real time as changes occur.


What’s Next?

The Commission will seek public comment on the proposed rules for 90 days. The Commission will then review the comments and determine whether to adopt the proposed rules.


It’s still going to be little bit of time before crowdinvesting will be fully permitted but we will keep you updated real time as changes occur.

Thanks and remember that we would love to hear your thoughts! Help us serve you better by sharing your feedback with us at


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James Suh
James is the Strategy Director at Return on Change and is responsible for coordinating with all department heads in clarifying RoC’s development needs and objectives, adjusting strategic initiatives as needed. James graduated from Duke University with a B.A. in Political Science and English. His research on Lockean individualism has earned him the “Best Paper Award” of the Duke Political Science Standard, a publication of the Duke University Political Science Department that showcases outstanding research in political science by Duke students.
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4 Responses to “YES! SEC Unanimously Votes in Favor of Title III” Subscribe

  1. Sang Lee 10/24/2013 at 4:44 pm #
    Sang H. Lee

    It was a long time coming and I was really holding my breath for a long time!

    It’s finally here and now the real work begins. Excited to get started!


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