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SEC staff offers FAQ on JOBS Act's broker-dealer exemption from registration

Feb 07 2013 Regulatory Intelligence news team

The staff of the Securities and Exchange Commission Division of Trading and Markets has posted guidance in the form of answers to frequently asked questions, or FAQs, on the exemption from broker-dealer registration in Title II of the Jumpstart Our Business Startups, or JOBS, Act. President Barack Obama signed the JOBS Act into law on April 5, 2012. Some of the provisions went into effect without any regulatory action, but others require SEC rulemaking. The SEC is soliciting public comment on some regulatory initiatives, but its pace has been criticized by some of the law's proponents. Please click here to review the SEC staff guidance. "These FAQs are not rules, regulations or statements of the [SEC, which] has neither approved nor disapproved these FAQs," the staff noted, saying the guidance may be periodically updated. Please note that the staff warned that the April 2008 revision to its Guide to Broker-Dealer Registration generally remains in effect under the JOBS Act.

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