By Danielle Douglas
John Marshall Bank in Reston has de-registered its shares with the Securities and Exchange Commission, taking advantage of a provision in the JOBS Act permitting small banks to opt out of the costly regulatory requirement.
The statute was designed to make it easier for small institutions to raise capital without contending with tens of thousands of dollars in compliance costs. When a bank raises money by issuing stock, it could be required to report its financial activities to the SEC once it reaches a certain number of shareholders.
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Solari Report Blog Commentaries
Solari Special Report: Jumpstart Our Business Startups (JOBS) Act of 2012
April 12, 2012
