It will not be long before companies and individuals with no assets and no track record ? indeed anyone with a computer – can raise investment capital from ordinary folks over the internet with very limited disclosures and regulation. Crowd-funding, as the concept is known, was approved by Congress as part of the Jobs Act. The idea is to kick-start small businesses so that they will provide needed jobs. The SEC and numerous commentators expressed serious misgivings about crowd-funding and its potential for securities fraud.