Despite Nearly Three Years of Delay, SEC in No Hurry to Implement JOBS Act Rules
Nearly three years after the enactment of the JOBS Act, and 14 months after the first and only significant rule making action by the Securities and Exchange Commission to implement the Act, the law failed to make even a mention in the agenda of the Commission’s Government-Business Forum on Small Business Capital Formation, the annual meeting of regulators and emerging growth finance professionals held at SEC headquarters in Washington on November 20.
For much of 2014, growth equity private placement (EPP) activity had settled into a promising deal-making groove that was on pace to best 2013. But a spike in volatility in the fourth quarter slowed deal making and ushered in a ho-hum year-end performance.
A company that focuses on micro-lending for independent builders in real estate is now the first Reg A issuer to complete the coordinated process for state-level review developed by the North American Securities Administrators Association (NASAA).