Testimony On JOBS Related Rulemaking Progress

On April 11, 2013, Lona Nallengara, Acting Director of the SEC’s Division of Corporation Finance, and John Ramsay, Acting Director of the Division of Trading & Markets offered testimony before the House Subcommittee on Investigations, Oversight and Regulations of the Committee on Small Business.  Their testimony, which provides an overview of the Act and the implementation efforts to date is available here:  http://www.sec.gov/news/testimony/2013/ts041113lnjr.htm.

Commenting on Title I, Nallengara and Ramsay noted that SEC staff is consulting with the exchanges on the structure of a pilot program on modified tick sizes.  They also noted that the Staff is preparing its recommendations in connection with the mandated review of the disclosure requirements in Regulation S-K, and expects to complete the review in “the near future.”  On Title II (the Rule 506 rulemaking), they noted that the Staff is developing recommendations for the Commission’s consideration.  There was no sense