7/18/2013

The backers of the now-passed Jumpstart Our Business Startups Act, or JOBS Act, want to keep looking for ways to help entrepreneurs raise capital and create jobs, said Scott Garrett, R-N.J., chairman of the House Financial Services Committee's Subcommittee on Capital Markets and Government-Sponsored Enterprises. Wayne Souza, who testified on behalf of the Investment Program Association, urged two clarifications of the JOBS Act. The first clarification would exempt materials circulated to accredited investors during the "testing the waters" phase of solicitation while the second would prevent the SEC from adding requirements regarding disclosure or content. Read Souza's full testimony.

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