ALBUQUERQUE, N.M. (AP) — A New Mexico securities regulator wants the state to adopt rules allowing New Mexico businesses to raise capital through online crowdfunding from state residents.
The Albuquerque Journal (http://bit.ly/YataiL ) reports that Securities Division Director Alan Wilson is proposing that the state regulate websites designed to help New Mexico businesses raise capital and to allow residents to invest that way.
Wilson says the state now has what he calls “archaic regulatory limitations” that make fundraising expensive for small businesses, limit how much they can raise and restrict wealthy investors’ investment opportunities.
Wilson says New Mexico now generally follows federal requirements. He says the state could establish its own rules as long as investors and businesses are based in New Mexico.
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