Lifting the Ban on General Solicitation and General Advertising

On Thursday afternoon, the US Senate passed the Jumpstart Our Business Startups Act, a bill designed to make it easier for small companies to raise capital. The centerpiece of the legislation is the crowdfunding provision. However, the Senate passed an amendment to that section of the legislation...

The JOBS Act: Creating Jobs, or a Replay?

As the 1990s drew to a close Congress passed legislation signed by the President ensuring the deregulation of the derivatives markets. At the time CFTC Chairwoman Brooksley Born was one of the sole voices of dissent. Less than ten years that dissent proved prophetic as the most severe market crisis...

Final Senate Version of Crowdfunding

As we know, the Senate changed the version of the Jumpstart our Business Startups (JOBS) Act in only one way, they added an amendment, drafted by Sen. Merkley (but also supported by Sens. Bennet and Brown), which added more investor protections to the "crowdfunding" section of the bill...

Next Steps for the JOBS Act

The Jumpstart Our Business Startups Act, as amended by the Senate, was voted on by the House of Representatives yesterday and passed 380 to 41. That makes it a very bi-partisan bill, even though a ll 41 "Nays" were Democrats . If I remember my Schoolhouse Rocks song correctly, it's...

In Spite of What You May Have Heard, the Senate Just Effectively Killed Crowdfunding

This last week, the Senate passed the " JOBS Act ," leaving it one step away from final passage by Congress and Signature by President Obama. The JOBS Act contains a number of provisions which are aimed at reducing the securities compliance burdens of small companies and startups. One of...

Steps to Determine if an Investor is Accredited

Private funds will be able to advertise and solicit for investor, provided all of the investors are " accredited investors ." The Jumpstart Our Business Startups Act will dramatically change the way capital raising for private funds operates. The drawback is the loss of 35 non-accredited...

The Practical Implications of the "JOBS" Act for EB-5 Practice

On March 22, 2012 Washington, DC, "Jumpstart Our Business Startups" (JOBS) Act was passed by the Senate, following its passage on March 8, 2012 by the House of Representatives. The purpose of the said legislation is to ease the regulatory burden on small companies for raising capital...

Dick Phillips, Alan Berkeley and Stan Keller Discuss the JOBS Act.

On this edition, Dick Phillips and Alan Berkeley of K&L Gates and Stan Keller of Edwards Wildman discuss the JOBS Act (Jumpstart Our Business Startups Act), which was signed into law April 5 by President Obama. They provide an overview of the legislation and explore some of the controversies of the...

Crowdfunding Under the JOBS Act: The Bottom Line Impact on Private Equity Issuers and Market Intermediaries

by Jonathan B. Wilson and Dianne L. Trenholm Excerpt: On April 5, 2012, President Obama signed the Jumpstart Our Business Startups Act (the "JOBS Act"), H.R. 3606, into law calling it "a potential game-changer" for startup companies. President Obama signed the JOBS Act just...

A Masterstroke of Some Kind: Crowdfunding and the JOBS Act

"Everyone agrees the title was a work of pure genius," says Dick Phillips of K&L Gates in a recent podcast , referring to the Jumpstart Our Business Startups (JOBS) Act. "It's impossible to vote against in an election year." When a law is so well named, it's important...