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Mark-Up Today of Two JOBS Act-Related Bills

Posted in Exchange Act Registration Thresholds, Regulation A+

Today, May 7, 2013, the House Committee on Financial Services will mark up two JOBS Act related bills, HR 701 and HR 801.  HR 701 would require that the SEC take action to implement rules under Title IV of the JOBS Act (the provisions related to Section 3(b)(2) or “Regulation A+”) by October 31, 2013.  HR 801 would address an omission in the JOBS Act and make clear that Title VI of the JOBS Act is to raise the Exchange Act threshold for savings and loan companies from 500 shareholders of record to 2,000 shareholders of record (with no limitation on the number of non-accredited investors) and to raise the threshold for a savings and loan company to terminate its SEC registration from 300 shareholders of record to 1,200 shareholders of record.  See the memo here: http://financialservices.house.gov/calendar/eventsingle.aspx?EventID=332411