June 25, 2012
I was very disappointed that that the launch of a crowd funding portal, InvestP2P.com several years back, was blocked by the SEC.
The SEC required audited financials, which took a bunch of time, were costly and were finally submitted, but the SEC subsequently did not allow them because they were not prepared by an accounting firm authorized by the SEC. This was especially discouraging since the SEC took our steep application fees in advance and didn't tell us about the type of accounting firm required by the SEC until after they got our money and financials.
US JOBS could have been well back to good several years ago. I hope the SEC doesn't pull the same nonsense with their new rules for the crowd funding portal registering sites, EXEMPT from registration with the SEC.
Can we get our money back now?