Given the haste with which the JOBS Act made its way through Congress, it is not surprising that there are some details that may have been neglected. Rep. McHenry has introduced a bill (H.R. 701), co-sponsored by Representatives Schweikert, Eshoo, Garrett, and Scott, which would direct the Securities and Exchange Commission to implement rules for… Continue Reading
Tag Archives: deregistration
Extending JOBS Act Exchange Act Registration and Deregistration Thresholds for Banks and Bank Holding Companies to Savings and Loan Holding Companies
Posted in Exchange Act Registration ThresholdsOn November 28, 2012, Representatives Steve Womack (R-Ark.) and Jim Himes (D-Conn.) asked SEC Chairman Schapiro to extend to savings and loan holding companies (SLHCs) the benefits of the JOBS Act increase in the Exchange Act shareholder registration threshold from 500 to 2,000 for banks and bank holding companies. Similarly, the JOBS Act-mandated increase in… Continue Reading
Banks Save Their Pennies
Posted in Exchange Act Registration ThresholdsPrior to enactment of the JOBS Act, Section 12(g) of the Exchange Act required issuers to register a class of equity securities with the SEC if, on the last day of the issuer’s fiscal year, such class of securities was held of record by 500 or more record holders and the company had total assets… Continue Reading