NEW HAVEN – If one were seeking a perfect example of why it’s so hard to make financial markets work well, one would not have to look further than the difficulties and controversies surrounding crowdfunding in the United States. After deliberating for more than three years, the US Securities and Exchange Commission (SEC) last month issued a final rule that will allow true crowdfunding; and yet the new regulatory framework still falls far short of what’s needed to boost crowdfunding worldwide.
纽黑文—如果你想寻找一个说明金融市场为何如此难以良好地运转的完美例子，你只需要看看围绕美国众筹（crowdfunding）所出现的困难和争议就行了。在研究了三年多后，美国证券与交易委员会（SEC）在上个月出台了最终规则，该规则允许真正的众筹；但新的监管框架仍远远落后于提振全球众筹所必须的要求。