Since Title II of the Jumpstart Our Business Startups or JOBS Act passed Congress in 2012, equity crowdfunding has grown into a major investment trend. Title II permitted securities issuers to advertise unregistered securities offerings to the public through "general solicitation," provided investment is limited to accredited investors.
Title III will allow any investor to participate in equity crowdfunding offers to raise up to $1 million over a 12-month period. (The same offer may raise additional amounts from accredited investors.) A final rule for implementing Title III of the JOBS ACT is now scheduled to be published in October of 2015 and to take effect early in 2016.
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