abc
QUICK LINKS:

Wis. Crowdfunding Law Takes Effect Sunday

Updated: 05/28/2014 10:01 AM
Created: 05/28/2014 9:59 AM WDIO.com

MADISON, Wis. (AP) - Fledgling Wisconsin companies can sell stocks online through Internet crowdfunding sites starting Sunday.

The Legislature last year unanimously passed, and Gov. Scott Walker signed, a bill allowing for the sale of stocks through crowdfunding.

Companies can raise up to $1 million from state investors and $2 million if the issuer has had an audit within the past year and provided the results to investors and state regulators.

Patricia Struck, administrator of the state Department of Financial Institution's Division of Securities, encourages consumers to make sure the investment is right for them.

Supporters of the new law say it's a simple way to help small businesses by opening them up to a wide pool of potential investors.

Most consumers will be limited to investing $10,000 in a single crowdfunding offering.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Front Page

  • Scannell Convicted on Both Counts

    A jury has convicted Cook County Attorney Tim Scannell on two counts of fourth-degree criminal sexual conduct. The verdict comes after about nine hours of deliberations yesterday evening and today.

  • Spirit Mountain Seeing Big Changes

    Just months into a new executive director, Spirit Mountain is seeing some big changes. Daniel Fanning with the mayor's office says three positions are being discontinued, including the director of marketing, director of operations, and director of skier services.

  • Free Range Film Festival in Wrenshall

    Annie Dugan and her husband call it the Free Range Film Festival, and they are hold it in a barn where they've showing independent movies for 11 years. The Dugan's bill the festival as "a farm fresh alternative to stale cinema."

  • Cider House Opens in Historic Duluth Building

    In a city of craft beer, Endion Station is Duluth's first cider house. The group behind Fitger's Brewhouse bought the old train depot, which now sits in Canal Park, two years ago and reopened the piece of history Friday.

  • Engineering Firms Expanding in Twin Ports

    Duluth and Superior are winning awards for the best places to live, and the Twin Ports economy is looking good as two engineering firms expand in both cities. Company leader say new offices opening on Friday mean more local jobs.

 
Advertisement