ARTICLE · 31 MAY 2012

U.S. Adopts JOBS Act, Containing Crowdfunding Provisions And Benefits For FPIs

Stikeman Elliott LLP

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On April 5, U.S. President Obama signed the Jumpstart Our Business Startups (JOBS) Act, a law intended to help small businesses and startups raise capital.

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On April 5, U.S. President Obama signed the Jumpstart Our Business Startups (JOBS) Act, a law intended to help small businesses and startups raise capital. As we discussed in a post earlier this year, the legislation provides a "crowdfunding" registration exemption for transactions involving individual investments not exceeding certain thresholds based on an investor's income and net worth.

The amount raised under the crowdfunding exemption must also be limited to an aggregate annual amount of $1 million. The issuer or intermediary will also have to comply with certain requirements in order to utilize the exemption, including with respect to providing investor warnings, and resales of any securities purchased would be limited for one year.

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