Nimish Patel Quoted in Law360 on Crowdfunding Regs
Nimish Patel was quoted in the article, "SEC Mulls Easing Crowdfunding Regs, But It May Not Help," published by Law360 on June 28, 2019.
The article discusses securities-based crowdfunding, the lack of significant interest garnered in the past three years, and how the SEC is currently seeking public input on how crowdfunding can be made more attractive.
From the article...
"Mitchell Silberberg & Knupp LLP partner Nimish Patel said the SEC created many 'bells and whistles' and disclosure requirements in attempt to balance capital formation needs with investor protection, a core function of the SEC. Patel is concerned that the end result increased compliance costs on cash-strapped startups and has made crowdfunding less appealing.
'When you try to please both sides, you please no one,' Patel said. 'As a result you have got this regulation on the books that is hardly utilized.'"