Photo Credit: Carolyn Kaster/Associated Press
By Dave Michaels
Small businesses raising money by selling shares over the Internet wouldn’t have to verify that their backers comply with individual investment limits under a U.S. regulatory proposal set for a vote as early as this week.
The plan, scheduled for a Wednesday vote by the Securities and Exchange Commission, would allow such companies to use so-called equity crowdfunding without having to check that a person’s investment is a greater share of their income or net worth than allowed by law.
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