The JOBS $($Jumpstart our Business Startups$)$ Act enacted in April $2012$ relaxed several provisions of the securities laws for the purpose of facilitating the capital raising process by small to mid$-$size issuers and relaxing registration requirements.

a$.$ List three companies that have gone public using the JOBS Act.

b$.$ What are the major provisions of the JOBS Act?

c$.$ While many regulators and investors are proponents of the JOBS Act because it will help more firms raise capital, some critics are weary. What are the reasons that some may not agree with the JOBS Act?

d$.$ In a $3-1$ vote, the SEC decided that by mid$-2016,$ companies will now be allowed to offer investors a piece of their company by selling stock online. This is a new form of $$crowdfunding$.$ Please expound on this new law. Which firms and investors will be allowed to participate? What are the pros and cons?

Please cite any sources that you use outside of the lecture notes and textbook.