Introduction
Many market participants were taken by surprise by the enactment
of the Jumpstart Our Business Startups (JOBS) Act. The JOBS Act, HR
3606, was passed by the United States House of Representatives on
March 8 2012..
amendment to Title III (providing for the crowdfunding exemption
with enhanced investor protections). On March 27, the House of
Representatives accepted the Senate's amendment, and on April
5, President Obama signed the JOBS Act into law.1 To
many, this may sound like a quick path for legislation, especially
when considered in the context of a Congress that seemed virtually
deadlocked and unable to reach the consensus required to take
action on pressing issues. When considered closely and in context,
however, it becomes clear that the Act was the culmination of an at
least year-long bipartisan effort in both the House and Senate to
address concerns about capital formation and unduly burdensome
Securities and Exchange Commission (SEC)
