The passage of the JOBS Act has created new opportunities in the private investments industry. This legislation has resulted in high expectations but also raised many concerns. This fall we saw two major developments: in September, an 80-year ban on general solicitation was removed, allowing private companies and investment funds to openly promote their fund-raising needs. Then, in October, the SEC voted on the rules for crowdfunding to allow nonaccredited investors to participate. Aside from the legal battles, we witnessed the emergence of new crowdfunding portals and entrance into the industry of established financial institutions and global corporations.