JOBS Act Issues: Law Firm Memoranda
Congress Passes the Jumpstart our Business Startups Act, Sullivan & Cromwell LLP (March 27, 2012). Description: An overview of the provisions of the JOBS Act.
JOBS Act and General Solicitation: Impact on Private Offerings During the Period Prior to SEC Rulemaking, Fourteen Law Firm Consensus (Apr. 5, 2012). 14 law firms issued an overview of how the JOBS Act would enable general solicitation after the passage of the legislation.
JOBS Act of 2012 - What Does it Mean for Foreign Companies, Cleary Gottlieb Steen & Hamilton LLP (Apr. 16, 2012). Description: Most of the provisions of the JOBS Act are applicable to foreign companies. However, the crowdfudning provisions are not applicable to foreign companies. Additionally, the increase of the number of record shareholder threshold to 2,000 will not effect foreign companies because they can rely on other exemptions from registration requirements.
JOBS Act to Relax Rules on Security Offerings, Cleary Gottlieb Steen & Hamilton LLP (March 27, 2012). Description: The memo provides an overview of the provisions of the JOBS Act.
The JOBS Act, Executive Compensation Reporting, Implications and Opportunities, Skadden Arps Slate Meagher & Flom LLP (April 25, 2012). Description: Memo describes how the JOBS Act relieves “emerging growth companies” (EGCs) from certain compensation-related disclosure requirements in the Securities Act of 1933, Exchange Act of 1934, and the Dodd-Frank Act.
The JOBS Act and Implications for Broker-Dealers, Davis Polk & Wardwell LLP (March 28, 2012). Description: Overview of the implications of the JOBS Act for broker-dealers, including (1) creating exemptions from certain securities regulations for "crowdfunding," (2) requiring the SEC to conduct a study on the impact of quoting in penny increments, and (3) granting broker-dealers more flexibility in publishing research reports about emergining growth companies.
The Jobs Act and Implications for Capital Markets Professionals, Pre-IPO Companies, and Private Offerings, Davis Polk & Wardwell LLP (March 26, 2012). Overview of the implications of the JOBS Act for capital markets professionals, including (1) allowing emerging growth companies to avoid certain securities law regulations regarding auditing and executive compensation; (2) granting investment banks more flexibility to publish research about an emerging growth company immediately before and after its IPO; (3) increasing the maximum number of record-shareholders that a company can have before it has to register with the SEC from 500 to 2,000.
Jumpstart Our Small Business Startups Act Signed into Law, Skadden Arps Slate Meagher & Flom LLP (April 2012). Description: Detailed explanation of the provisions of the JOBS Act including charts that demonstrates the changes in the law.