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Regulation A And The Jobs Act: A Failure To Resuscitate, Rutheford B. Campbell Jr.
Regulation A And The Jobs Act: A Failure To Resuscitate, Rutheford B. Campbell Jr.
Law Faculty Scholarly Articles
Regulation A offers small businesses an exemption from the registration requirements of the Securities Act of 1933. The exemption is generally consistent with the obligation of the Securities and Exchange Commission to fashion exemptions that balance investor protection and capital formation. From the perspective of small businesses, the exemption may appear to provide an efficient access to external capital.
Regulation A, however, has fallen into nearly complete disuse. The millions of small businesses in this country, all of which at some point need external capital to survive and grow, simply do not use Regulation A.
Two reasons account for small …