Specifically, while EGCs may opt to include only two years of audited financials, to date most have included all three years as was previously required.

FORBES: On Its One-Year Anniversary, Two Cheers For The JOBS Act

The SEC has now made clear that it expects EGCs to submit pre-marketing materials for review, and EGCs have responded by carefully limiting the written materials provided.

FORBES: On Its One-Year Anniversary, Two Cheers For The JOBS Act

The IPO Onramp allows EGCs to defer this Sarbanes-Oxley requirement for up to 5 years after the IPO, as opposed to the general requirement for an audit in the second annual report after the IPO.

FORBES: On Its One-Year Anniversary, Two Cheers For The JOBS Act

Furthermore, although the JOBS Act specifically allows pre-IPO analyst research reports for EGCs, existing restrictions continue to prohibit pre-IPO publication or dissemination of research reports for EGCs until further SEC and FINRA interpretative guidance is issued.

FORBES: How A Shortage Of Analysts Is Hampering The IPO Market

Ideally, the welcome reforms in the area of equity research that EGCs now enjoy under the JOBS Act would be extended to all companies, if for no other reason than to help prevent another Facebook-type IPO fiasco from occurring.

FORBES: How A Shortage Of Analysts Is Hampering The IPO Market

EGCs and underwriters view the benefit of additional information as outweighing the cost, as it allows more thorough discussion and analysis of trends and uncertainties, as well as more meaningful due diligence to make sure the disclosure overall is fair and accurate.

FORBES: On Its One-Year Anniversary, Two Cheers For The JOBS Act