There is currently a draft bill floating around Congress known as JOBS Act 4.0. We have prepared a summary of the topics that would be most relevant to companies and other capital markets participants from the draft legislation.
Many of us recall the groundbreaking JOBS Act that was adopted in 2012 and its resulting impact on the capital raising process. While the adoption of JOBS Act 4.0 may not occur, or if it occurs, it may not be adopted in its current form, the draft legislation provides a wish list of sort for public companies and capital markets participants on changes that would facilitate capital formation and ease reporting burdens for public companies. Interestingly, given the current state of the capital markets and the potential outcomes of the mid-term elections this fall, we are more bullish on legislation of this type getting momentum than we were last year at this time.
The discussion draft of the JOBS Act 4.0 bill is publicly available.