Crowdfund Insider reported on the forthcoming House Financial Services Committee hearing on the JOBS Act last week and today the list of witnesses has been revealed. The hearing entitled, “The JOBS Act at Five: Examining Its Impact and Ensuring the Competitiveness of the U.S. Capital Markets”, scheduled for Wednesday, March 15, 2017, 10:00 AM March 22, 2017, 2PM in 2128 Rayburn HOB, hosted by the Subcommittee on Capital Markets, Securities, and Investment, includes the following individuals testifying on progress (or lack thereof).
- Mr. Raymond Keating, Chief Economist, Small Business & Entrepreneurship Council
- Mr. Brian Hahn, Chief Financial Officer, GlycoMimetics, Inc.
- Mr. Andy Green, Managing Director of Economic Policy, Center for American Progress
- Mr. Edward Knight, Executive Vice President and General Council, NASDAQ OMS
- Mr. Thomas Quaadman, Vice President, U.S. Chamber of Commerce
It is a bit curious the Subcommittee did not engage a representative from a crowdfunding platform that is leveraging JOBS Act exemptions, including: Reg A+, Reg D 506c & Reg CF.
The Subcommittee memo states the hearing will examine the impact of the Jumpstart Our Business Startups Act (JOBS Act) on the U.S. capital markets and the JOBS Act’s effect
on capital formation, job creation, and economic growth. The memo explains it is important that the U.S. capital markets remain globally competitive as the number of international financial centers
increases. The Subcommittee will discuss what issues are hampering the competitiveness of
the U.S. capital markets and what actions should be taken to address those issues.
The hearing will be live-streamed on the HFSC website.