Title VICapital Expansion
Title VI of the JOBS Act focuses on banks, and does for them what Title V did for other companies. It says banks don’t need to register with the SEC until they have $10 million in assets and a certain number of shareholders. It also expands the number of those shareholders for these institutions from 500 to 2,000 before triggering the registration requirement, with no qualification concerning accredited vs. nonaccredited persons.
SEC. 601. SHAREHOLDER THRESHOLD FOR REGISTRATION.
(a) AMENDMENTS TO SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934.—Section 12(g) of the Securities Exchange Act of 1934 (15 U.S.C. 78l(g)) ...