SEC Approves Crowdfunding Proposal in Unamous Vote

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Oct. 23 (Bloomberg) -- The U.S. Securities and Exchange Commission meets to consider a proposal to allow businesses to sell ownership stakes in their companies by soliciting investors over the Internet. The SEC plan, approved unanimously at the conclusion of the meeting, would create rules for equity crowdfunding, which lawmakers intended to ease financing for startups and small companies when they authorized it in the 2012 Jumpstart Our Business Startups Act. (Source: Bloomberg)

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