Realty Mogul Provides Thoughts on the SEC's Proposed Crowdfunding Rules
BEVERLY HILLS, Calif., Oct. 25, 2013 /PRNewswire-iReach/ -- Realty Mogul provided thoughts today on the new proposed crowdfunding rules for unaccredited investors coming out of the Securities and Exchange Commission (SEC). The proposed rules are subject to a 90-day comment period, during which the public can try to influence the rules before they are finalized.
"It's great to see this new development from the SEC," said Jilliene Helman, founder and CEO of Realty Mogul. "These proposed rules could prove to be a significant step toward changing the way that equity investments are made. Ever since the JOBS Act was originally passed, our industry has eagerly awaited clarification on the details of the Title III section of that legislation. Now that the rules are one step closer to being finalized, we're in a position to evaluate how they might affect our industry generally and the real estate finance sector in particular."
Realty Mogul is a real estate crowdfunding company that has thus far limited participation in its platform to accredited investors – persons who earn $200,000 or more annually or have a net worth over $1 million. This limitation allows the company's real estate offerings to fall under a long-standing exemption from the SEC's registration requirements. The site is a leader in the real estate financing sector, with over $8 million invested since its launch just a few months ago.
"We'll be looking at the proposed rules closely and will see how the public comments shape up during the 90-day period," said Helman. "From what we've seen so far, the SEC has adhered to Congress' broad outline in determining how the crowdfunding market can be opened up. While we have concerns with the potentially burdensome audited financial requirements and want to be sure that fundraisers will be able to combine unaccredited and accredited raises for maximum impact in the real estate sector, we hope that the increased use of online crowdfunding can help promising companies raise the capital they need to grow and expand."
About Realty Mogul
Realty Mogul is crowdfunding for real estate, a marketplace for accredited investors to pool money online and buy shares of real property like office buildings, apartment buildings and retail centers. Realty Mogul gives investors tools to browse investments, do due diligence, invest online and have 24/7 access to an investor dashboard to watch how their investments are performing. Realty Mogul partners with private real estate companies to source quality deal flow and curates all the investments. For these real estate companies, they have access to a broader capital pool and tools to do investor reporting, investor communication and distributions.
Media Contact: Justin Hughes, Realty Mogul, 877-977-2776, firstname.lastname@example.org
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SOURCE Realty Mogul