This is interesting: what if some crowdfunding sites limit the investing to so-called “accredited investors” as defined by the SEC. I just read David Rose’s take on this at Quora.
David mentions two sites, his own gust.com and angelist, that already group accredited investors. Up to now they work as platforms for getting investors together to look at deals, submitting deals to investors, and managing communications, research, and so on. But they could also register under the JOBS act, as he suggests:
… fully registered Broker/Dealers and actively facilitate financings for a percentage of the raise.
Why not? No good reason why not.
Why? The JOBS act loosened restrictions on who is allowed to invest in startups, and it is now waiting for regulations to make it real. In the meantime, though, there are hundreds of thousands of accredited angel investors. Using the change coming in crowdfunding but starting with accredited investors could get somebody started quickly, without (in theory at least) violating the existing regulations.