Update: Financial Services Committee Hearing on JOBS Act Progress Moved to March 22nd

Originally scheduled to take place tomorrow (March 15, 2017), the Hearing entitled The JOBS Act at Five: Examining Its Impact and Ensuring the Competitiveness of the U.S. Capital Markets”, hosted by the Subcommittee on Capital Markets, part of the House Committee on Financial Services, has been pushed back to Wednesday, March 22, 2017, at 2PM.

The Subcommittee will examine the impact of the JOBS Act on the US capital markets and the JOBS Act’s effect on capital formation, job creation, and economic growth. The JOBS Act, a bipartisan act of legislation, created the three different iterations of investment crowdfunding including; Reg D (506c) or accredited crowdfunding, Reg A+ – a Mini-IPO type offer, and Reg CF or retail crowdfunding.

The Committee memo states: 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.

“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 witness list, posted below, has an obvious omission as not a single crowdfunding platform is participating in the Hearing.

  • Raymond Keating, Chief Economist, Small Business & Entrepreneurship Council;
  • Brian Hahn, Chief Financial Officer, GlycoMimetics, Inc.
  • Andy Green, Managing Director of Economic Policy, Center for American Progress
  • Edward Knight, Executive Vice President and General Counsel, NASDAQ
  • Thomas Quaadman, Vice President, U.S. Chamber of Commerce.

The Hearing will be live-streamed on the HFSC website.

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