Thursday, 24th May 2012
Guidance and Comments Inform JOBS Act Implementation
Source: CCH/Wolters Kluwer
From the report:
The Jumpstart Our Business Startups (JOBS) Act, enacted April 5, 2012, is designed to streamline or eliminate the regulatory and legal barriers preventing emerging businesses from reaching out to investors, accessing capital, and selling shares on the public market. Three main themes drove the passage of the JOBS Act: an effort to restart the U.S. initial public offerings market by creating an IPO “on-ramp,” the desire to allow companies to raise capital over the Internet through crowdfunding, and the need to revise outdated SEC regulations.
The Act makes it possible for promising new businesses to go public and access financial opportunities previously limited to large corporations. The legislation also allows what is known as crowdfunding, which allows groups of investors to pool money, typically small individual investments, to support an effort such as growing a new company.
The SEC recently issued staff guidance on many aspects of the JOBS Act,
particularly involving two new concepts codified in the Act: crowdfunding and emerging growth companies. In addition, the Commission is receiving thoughtful comments from industry groups and others as it begins the rulemaking process.
+ Link to full report (PDF; 457 KB)
By Peggy Garvin
Peggy Garvin, of Garvin Information Consulting, is the author of United States Government Internet Directory (Bernan Press) and Real World Research Skills, 2009 (TheCapitol.Net). In her 20 years in the information business, Peggy has managed electronic information products and services in a variety of environments, including commercial publishing, e-commerce, law firms, and the Congressional Research Service of the Library of Congress. Peggy's work has been recognized with the 2011 SLA Dow Jones Leadership Award. She has a Masters of Library Science degree from Syracuse University School of Information Studies.
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