The JOBS Act is for Wall Street, not jobs
April 12, 2012 12:34 PM Subscribe
The JOBS Act or "Jumpstart Our Business Startups Act" is not really about creating jobs but about loosening regulations on companies planning to IPO. SOX compliance and other financial regulations have made going public an expensive and time consuming process for young companies, and many are now staying private or getting acquired rather than going public. Fewer regulations encourages more IPOs, but what are the unintended consequences of "exempting [companies] from independent accounting requirements for up to five years after they first begin selling shares in the stock market"?
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