U.S. regulators opened a new path Wednesday for small companiesto raise money in less-regulated, mini public offerings.
Small businesses will be able to raise as much as US$50 millionfrom the general public without certain regulatory hurdles, such asapproval from every state where the firm has investors. TheSecurities and Exchange Commission (SEC) unanimously approved therule.
The regulation stems from a provision in the 2012 JOBS Act thatwas pushed by the financial industry, including investment bankerWilliam Hambrecht, who helped take public companies such as AppleInc. and Google Inc. Hambrecht has said he plans to underwrite suchofferings.
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