The JOBS Act, formally the Jumpstart Our Business Startups Act of 2012, is a U.S. federal law that expands access to capital for small businesses and startups by easing certain securities regulations. The JOBS Act was signed by President @Barack Obama on April 5, 2012, and implemented through rulemakings by the U.S. Securities and Exchange Commission (SEC) from 2012 to 2016. Key provisions include Title I’s “emerging growth company” on-ramp that phases in disclosure and auditing obligations for new issuers; Title II’s lifting of the ban on general solicitation for private offerings under Rule 506(c) to accredited investors; Title III’s Regulation Crowdfunding framework enabling offerings via registered funding portals with investment limits; Title IV’s expansion of Regulation A (“Reg A+”) with higher raise caps; and Titles V–VI increasing shareholder thresholds for mandatory registration under the Exchange Act, including for banks. Proponents credit the law with lowering fundraising barriers, while critics and some researchers flag investor-protection risks and mixed effects on IPO quality. According to the SEC, issuers using Reg CF and Reg A+ must meet specified disclosures and ongoing reporting obligations.

Contexts

• #equity-crowdfunding