The SEC today adopted Regulation Crowdfunding, permitting individuals to invest in securities-based crowdfunding transactions.  The new crowdfunding rules will be effective in May 2016.  The SEC also proposed amendments to Rule 504 to increase the aggregate amount of money that may be offered and sold pursuant to the rule from $1 million to $5 million and to apply bad actor disqualifications to Rule 504 offerings.  The SEC’s press release, with links to the final and proposed rules, can be found here: http://www.sec.gov/news/pressrelease/2015-249.html.