SEC's Approves of Title II of the JOBS Act

Slated has a great article HERE

Short version - the ban on “General Solicitation” has been lifted. Filmmakers & startups can now advertise their fundraising publicly, as long as they make "reasonable efforts" to confirm that investors financing their projects are accredited - which means they must have a net worth of over $1M - excluding their primary residence. And they must make more than $200K per year for the past two years. In other words ... they need to be rich enough to loose their investment.

Don't start Facebooking, Tweeting and placing online ads that you are looking for investors just yet - there is a period of 60 days until the SEC allows fundraising entities to advertise. Expect to see some changes by mid-September. 

There is a period of 60 days until the SEC allows filmmakers (and all other fundraising entities) to advertise. So expect to see some changes on Slated by mid-September. One complication is a potential pre-filing of a “Form D”, which could add time and/or cost to the fundraising process. We’ll keep you posted on solutions for that and there will also be a more in-depth Filmonomics analysis of the new ruling next week.