Photo Credit:Reuters/Jonathan Ernst
By Sarah N. Lynch
Entrepreneurs and start-up companies looking for investors will be able to solicit over the Internet from the general public under a new proposal issued by U.S. regulators on Wednesday.
The “crowdfunding” proposal, if adopted by the Securities and Exchange Commission, would be a major shift in how small U.S. companies can raise money in the private securities market.
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“People are angry with all the shenanigans on Wall Street,” he said. “They believe their money stays local when they put it in a community bank, rather than sent off to Never-Never land.”
C…