Meanwhile, Grassley has included a provision to ban these deals, retroactive to Nov. 18, 2003, in the JumpstartOurBusiness Strength Act (S. 1637) JOBS legislation, which the full Senate is expected to take up this week.
After racing through Congress at near break-neck speed, the acronym-friendly JumpstartOurBusiness Startups Act (the JOBS Act) has stranded in the Senate Committee on Banking, Housing and Urban Affairs at least 11 other Senate and House bills that deal with securities law reforms.