At today’s hearings the bulk of the morning was taken up by a panel on implementation of the Jobs Act. Following that panel was a second discussion surfacing issues which were NOT addressed in the Jobs Act.
The reality is there is quite a bit of ambiguity in the Jobs Act leaving significant room for interpretation and potential oversight. This is where the legislative intent hits the reality of a world which has become highly regulated.
The second panel was very was securities law heavy. The points became very granular as would be expected in the Securities industry. The presentation by Robert Bartlett, Professor of Law at UC Berkeley was especially enlightening (not surprisingly the slides were great too).
The afternoon break out session will be very interesting as several of the Crowdfunding cognoscenti are in attendance. We expect some of the portals we have covered on these pages will use this opportunity to forcefully drive the theoretical discussions to tangible conclusions. RocketHub, Somolend among others are in attendance.
We hope to report back to you later regarding our impressions for the Crowdfunding Break out room which is being moderated by Sarah Hanks of CrowdCheck and Vincent Molinari of GATE Technologies. Recommendations will be following the break out session.