JOBS Act Section 504 Report on Authority to Enforce Exchange Act Rule 12g5-1 and Subsection (b)(3)

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On October 15, 2012, the staff of the SEC released its Report on Authority to Enforce Exchange Act Rule 12g5-1 and Subsection (b)(3), as required by Section 504 of the Jumpstart Our Business Startups Act (the "JOBS Act"). Section 504 of the JOBS Act promulgated that the "[SEC] shall examine its authority to enforce Rule 12g5-1 to determine if new enforcement tools are needed to enforce the anti-evasion provision contained in subsection (b)(3) of the rule."