President Obama signs the JOBS Act

UPDATE: President Obama signed the Jumpstart Our Business Startups (JOBS) Act at a Rose Garden ceremony this afternoon.

Dan Rosen and I were there, representing the Angel Capital Association.

President Obama Speaking at #JOBSAct Rose Garden SigningBelow is the bulk of my original post from this morning. I'll leave it as is, though there is much more to say about the signing event. More soon!

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The news coverage I see about the JOBS Act is largely negative. Virtually all of it talks only about the IPO on-ramp and crowdfunding provisions. Title II of the Act is ignored.

That's frustrating. The JOBS Act also contains big reforms to the way angels invest in startups.

Title II of the JOBS Act is all about bringing regulations forward into the information era, to help angel financing be more efficient. We're talking about actual capital deployed by accredited investors to help entrepreneurs start new businesses.

There are no victims for the Title II reforms to target, because the kind of deals impacted are still strictly limited to accredited investors. Political support for Title II runs the gamut from Barney Frank to Eric Cantor.

And the President, too, of course.

Anyway, we'll keep talking on this blog about Title II, crowdfunding, and other provisions of the JOBS Act. SEC rulemaking on Title II is to commence in a short time. Rules to implement the crowdfunding exemption will take much longer.


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