However, note that it IS regulated by the Regulation CF and there are several guidelines that govern. For example, there is limitation on investment in a 12 month period per individual – so you can invest about $2k to $100k (for high net worth individuals). Note this is not something that you do casually – this needs to be mediated through brokers or funding portals.
Other rules: You can only raise $1MM per calendar year through the crowdfunding portals. It does not restrict you from raising money through other channels.
The company raising money has to keep almost everything disclosed – any material information, description of financial stats, two years of financial statements and there are some tiered reporting guidelines from simple; tax statements to more complex like CPA review to a full audit.
Check out some crowdfunding portals as in investor or for your company which are regulated by the financial regulators:
http://www.finra.org/about/funding-portals-we-regulate
As investor, remember – these are early companies and most will NOT make you money.
As a startup – you have obligation to your investors and follow the rules.