Summary
The SEC has already missed a 90-day deadline to implement the rules as required by the Jumpstart Our Business Startups Act, or JOBS Act, which was signed into law in April. The law reduces a variety of securities regulations to help smaller companies more easily raise capital.
Description
In addition to rolling back the solicitation ban, the JOBS Act raises the number of shareholders that triggers public financial reporting requirements and permits a new capital-raising strategy known as "crowdfunding," which lets investors take small stakes in private start-ups over the Internet.
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Posted by Claire Mackay