The JOBS Act Turns One

April 5, 2013 marked the one-year anniversary of the passage of the JOBS Act.  Here’s a roundup of a few of the media outlets that took the occasion as an opportunity to provide commentary on the effectiveness of the legislation.

An article at Bloomberg Businessweek explains that one of the reasons for the delay in SEC rules relating to advertising and general solicitation in Rule 506 offerings may be reservations regarding the way hedge funds may take advantage of the new rules, as opposed to small businesses.

At the Huffington Post, Chris Camillo makes an assessment of the state of crowdfunding one year after the JOBS Act, noting that while the SEC has stalled in its rule-making, the business community has been busy: “Platforms have gone from the idea stage to fully functioning businesses ready to flip the switch and ignite change in the capital markets.”

At A co-founder of perk-based crowdfunding website Indiegogo celebrates the one-year anniversary of the JOBS Act by commenting on what Indiegogo hopes the new crowdfunding rules will and won’t do.  Indiegogo wants to see regulations that keep out “gatekeepers.”  Indiegogo is not a “curator,” and wants to see the collective wisdom of the crowd determine which ideas succeed or fail.

And from The Atlantic, this article argues (as its title indicates) that the JOBS Act is an “utter failure” one year after its hopeful passage.

Check frequently for updated information on the JOBS Act, the Dodd-Frank Act and other important securities law matters.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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