Quick Progress Report on JOBS Act

Tomorrow, April 5, 2012, President Obama is expected to sign the JOBS Act approved by Congress last week.

Over on our Twitter and Facebook accounts -- which you can reach simply by clicking the icon links at the bottom of any page of our website --- we have made several posts about and (where permitted) links to a few of the many articles about the JOBS Act that are now popping up in magazines, newspapers and internet sites.

I recommend you check out those third party writings to get a sense of what other lawyers, small business people, regulatory sources and others are saying about the JOBS Act.  Then run your own Google search to expand the scope of your reading on the subject.

I do think some of the writers have actually read the Act, and know something about securities laws, although I suspect most of these "experts" are just repeating those opinions (1) expressed by others AND (2) consistent with their prejudices.

Still, the JOBS Act is finally stimulating a lot of conversation -- where were these impassioned advocates, pro and con, when the legislation was winding it way through the halls of Congress? -- and that, to me, suggests that fighting about and over the bill won't end when the President formally signs tomorrow.  (Were he to change his mind and refuse to sign, the Act would become law anyway at the end of the week, as we all recall from Civics class.)

Watch out for these and other partisans to just move the contest from the legislative (Congress) forum into the administrative (SEC) forum and to generate a heavy blizzard of comments when the SEC puts out proposed rules under the JOBS Act.


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