“Roar of ‘Crowd’ Proposed,” Wall Street Journal, October 24, 2013 C1 http://on.wsj.com/1aaEjEy
One aspect of the Board’s duty is to communication to shareholders, both existing and prospective. Lots of rules on this, dating back to the 1930’s.
But the SEC just agreed to look at loosening the rules a bit to permit more crowdfunding. This opens up investment in startups to a larger group of people, and provides the startup with flexibility not available through venture capital.
Does this (re-)open the doors to fraud? What controls do you put in place? The SEC proposal runs 600 pages.