Everyone is talking about the "Crowdfunding" provisions. I'm not convinced and will "wait and see"what the SEC does with this.
Much more useful and exciting is allowing advertising in a 506 offering.
Title II of the JOBS Act requires the SEC to amend its rules within 90 days to allow the use of general advertisements (so called "general solicitations") to solicit investors for nonpublicly traded securities without having to register with the SEC or state regulators as long as all purchasers of the securities are "accredited investors" or "qualified institutional buyers."
This opens up the internet for soliciting accredited investors.
Intermediaries that facilitate these general solicitations will not be subject to regulation as a broker or dealer solely by providing ancillary services if the intermediary does not receive a commission for securities transactions, does not possess funds or securities in connection with securities transactions and is not disqualified due to prior disciplinary history. "Ancillary services" include the provision of due diligence services, so long as those services do not include, for separate compensation, investment advice or recommendations, and the provision of standardized documents, so long as the intermediary does not negotiate the terms of securities transactions and does require the use the standardized documents as a condition of using the intermediary.
