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Monday, April 16, 2012

ABA Telebriefing: The New Deregistration Thresholds under the JOBS Act

Congress has passed and the President has signed the JOBS Act, small business legislation that includes provisions increasing the current 500-shareholder threshold for Securities and Exchange Commission registration to 2,000 for financial institutions, and raising the de-registration threshold for financial institutions from 300 to 1,200 shareholders. These new thresholds present an opportunity for community banks to consider the benefits of remaining public against the benefits of de-registering, as well as provide room to raise capital from new shareholders without registration.

What financial institutions are eligible? What should my Board of Directors know? When can my institution take advantage of these new thresholds? What will the SEC require? Is there anything else in the JOBS Act that is important to my community bank?

This ninety-minute telephone briefing scheduled for April 25, 2012 from 2:00 p.m. - 3:30 p.m. is designed to give community bank executive officers a primer on what they should be thinking about if their banks are in a position to de-register.

Topic will include:
  • What does the JOBS Act provide?
  • What are initial steps I should be taking in considering deregistration and what expert advice should I seek?
  • What action should be taken by the Board of Directors and what communication with Shareholders are advisable?
  • Is there are role for the bank's primary bank regulator?
And many more! Find out more information and register here.

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