Low levels of compliance, outright fraud, and lack of oversight are some of pitfalls of the current form of the Jobs Act that are discussed in this interesting expose by DealBook.
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Doubts arise as investors flock to crowdfunded start-ups
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Mr. Feit and Mr. Tyrrell have led two conference calls about the potential standards with other crowdfunding sites, but the site that has hosted the majority of crowdfunding campaigns so far, Wefunder, has not responded to invitations to take part. Nick Tommarello, co-founder of Wefunder, said that his site had to be sure companies were following all the rules. But he said he did not think, as Mr. Feit does, that it is the place of crowdfunding sites like his to argue with companies over their proper value. That, he said, would defeat the purpose of crowdfunding.
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