SEC Seeking Comment on JOBS Act Implementation

April 24, 2012

On April 5, 2012 the President signed into law the NSBA supported Jumpstart Our Business Startups Act(JOBS Act) (Public Law No: 112-106).  NSBA Chairman, Chris Holman, attended the White House signing ceremony.

This legislation can be expected to substantially reduce the cost of small businesses accessing investor capital and increase the pool of potential investors available to companies seeking investors.  Among other things, it establishes a crowdfunding exception to the securities registration laws and allows for general solicitation for accredited investors.  It also eases the compliance costs of new public companies.

The Securities and Exchange Commission (SEC) is seeking public comments regarding implementation of this new law. NSBA will be filing comments.  To provide input to the NSBA staff, please email David R. Burton, General Counsel, NSBA at To provide comments to the SEC directly click here.

The SEC is seeking comments in nine general areas, as follows:

  • Reopening American Capital Markets to Emerging Growth Companies (General Comments)
  • Tick Size Study
  • Review of Regulation S-K
  • Access to Capital for Job Creators
  • Crowdfunding
  • Small Company Capital Formation
  • Private Company Flexibility and Growth
  • Capital Expansion
  • Outreach on Changes to the Law

To read the text of the new law, click here.

Note:  GPO does not have the public law version of the legislation available yet.