Legislation seeks to reform capital markets, advances House

Lawmakers recently lauded the House advancement of the JOBS and Investor Confidence Act of 2018, stating that it is a step toward helping small businesses, entrepreneurs, and investors by reforming capital markets.© Shutterstock “The JOBS and Investor Confidence Act of 2018 will help sustain 3 percent economic growth and ensure we are able to compete […]

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Lawmakers recently lauded the House advancement of the JOBS and Investor Confidence Act of 2018, stating that it is a step toward helping small businesses, entrepreneurs, and investors by reforming capital markets.

© Shutterstock

“The JOBS and Investor Confidence Act of 2018 will help sustain 3 percent economic growth and ensure we are able to compete globally with countries like China,” Rep. Jeb Hensarling (R-TX), Financial Services Committee chairman, said. “By helping entrepreneurs access the capital they need to launch their companies and to go and stay public, this bill ensures America’s garages have fewer old cars and more new startups. The small businesses of today become the Amazon’s, Google’s and Microsoft’s of tomorrow. Thanks to the hard work of Members on both sides of the aisle, especially Ranking Member Maxine Waters, who worked so fervently on a cooperative basis, this bill will make a difference for economic growth for all Americans.”

Legislators said the bill includes provisions to ease regulations on angel investors and expands the definition of accredited investors to make it easier for startup companies and small businesses to attract investments needed to grow and create jobs. The legislation will also make it easier for companies to go public by extending on-ramp exemptions for emerging growth companies (EGCs), ease securities regulations on Initial Public Offerings (IPOs) to increase opportunities for everyday investors, and cut red tape on asset managers so that Main Street investors do not have to shoulder the costs of unnecessary regulations.

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