How to Protect Yourself From the JOBS Act

[Bob111]

How to Protect Yourself From the JOBS Act

http://www.forbes.com/sites/johnwas...ss-how-to-protect-yourself-from-the-jobs-act/

does this mean more stocks to trade?

Although it seems to be a decentralized way of creating wealth — perhaps bypassing Wall Street — the vampire squid financiers who brought us 2008 will still find a way to game the system.

kind of doubt it..WS will be first in line,before everyone else on good deals and all garbage will be sold to general public with WS help.

 

[nutmeg]

Imo, that was a pretty poor article from Forbes.

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The law would also roll back one of the most contentious elements of Sarbanes-Oxley for companies that decide to make initial public offerings. For the first five years after an IPO, the JOBS Act exempts companies with up to $1 billion in revenues from Section 404(b) of Sarbanes-Oxley. (Sarbox 404(b) requires each registered public accounting firm that prepares an audit report for a company to attest to and report on the assessment of internal controls over a company’s financials made by the company’s CFO and chief executive officer.)

That would ease a big operational headache for CFOs at newly public companies, according to Harvard law professor John Coates. It could allow these emerging firms to save the hundreds of thousands of dollars they otherwise would have collectively been forced to spend on outside auditors to perform internal-controls attestations of management assessments.

“That’s a rollback of Sarbanes-Oxley for those companies for a limited amount of time, which is probably not a terrible idea, considering they ought to be focused on growing the business post-IPO,”