NEW HAVEN – If one were seeking a perfect
example of why it’s so hard to make financial markets work well, one
would not have to look further than the difficulties and controversies
surrounding crowdfunding in the United States. After deliberating for
more than three years, the US Securities and Exchange Commission (SEC)
last month issued a final rule
that will allow true crowdfunding; and yet the new regulatory framework
still falls far short of what’s needed to boost crowdfunding worldwide.
