Wyoming Secretary of State Ed Murray Lauds Securities Act Rewrite
"This rewrite of the Securities Act has been decades in the making," said Murray. "The current Act is over 50 years old and did not reflect many of the realities of current practice, and ignored some of the most exciting possibilities of modern financing such as crowdfunding."
Murray says the new law will be a "game changer" for those looking to start a new business in the Cowboy State.
"I've seen the difficulties in obtaining financing, for new entrepreneurs in particular, and so this is an alternative source of financing that never existed beforehand in Wyoming," Murray said. "I'm really excited to roll it out in the next year."
The Act includes statutory authorization and provisions for Wyoming Invest Now (WIN), a crowdfunding component that the Secretary of State's Office will be integral in implementing.
Wyoming entrepreneurs will have the opportunity to raise up to $2 million in financing through WIN beginning July 1, 2017.
"Over the next 15 months, my office will do everything possible so that entrepreneurs, young and old throughout Wyoming, will be ready and able to raise the necessary capital quickly, without the fear of undue regulation," said Murray.