Jumpstart Our Business Startups Act (JOBS Act) and Crowdfunding – What Does it Mean?

July 2012

 

Last year President Obama unveiled an initiative to increase American jobs and economic growth by providing more small businesses with the ability to raise capital. In April 2012, the President signed the Jumpstart Our Business Startups Act (“JOBS Act”) into law which is geared to help startups have access to a larger pool of potential investors and make it easier for businesses to become publicly traded companies. This month FINRA released Regulatory Notice 12-34, which requests comments on the proposed regulation of Crowdfunding Activities pursuant to the JOBS Act.1 The comment period, which ends on August 31, 2012, allows the industry an opportunity to provide feedback on the appropriate scope of FINRA rules that should apply to member firms engaging in crowdfunding activities.

 

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