CEA Urges SEC to Implement JOBS Act Immediately

ARLINGTON, Va.--(BUSINESS WIRE)--The following statement is attributable to Gary Shapiro, president and CEO, Consumer Electronics Association (CEA)^®, regarding the recent announcement by the U.S. Securities and Exchange Commission (SEC) that it will postpone implementation of the Jumpstart Our Business Startups (JOBS) Act:

“Delaying implementation of the JOBS Act will hinder U.S. job creation, economic growth and continued U.S. leadership in innovation. We urge the SEC to implement the JOBS Act immediately.”

“With overwhelming bipartisan support, Congress passed the JOBS Act earlier this year. The JOBS Act allows for easier capital creation, like crowdsource funding, for new ventures, and promises to spur the creation of new companies and much-needed American jobs.

“The recent announcement by the SEC that it will postpone implementation of the JOBS Act until some point next year limits funding of innovative ventures and thus hurts U.S. job creation, exports and the economy. This delay contradicts the SEC’s previous statement to Congress in which it committed to implementing the crowdfunding provisions of the JOBS Act this summer.

“We understand that the SEC has limited resources. However, in today’s economy, our top priority must be putting America back to work. By enabling easier capital formation, the JOBS Act will create many new jobs for U.S. workers.

“Delaying implementation of the JOBS Act will hinder U.S. job creation, economic growth and continued U.S. leadership in innovation. We urge the SEC to implement the JOBS Act immediately.”

About CEA:

The Consumer Electronics Association (CEA) is the preeminent trade association promoting growth in the $206 billion U.S. consumer electronics industry. More than 2,000 companies enjoy the benefits of CEA membership, including legislative advocacy, market research, technical training and education, industry promotion, standards development and the fostering of business and strategic relationships. CEA also owns and produces the International CES – The Global Stage for Innovation. All profits from CES are reinvested into CEA’s industry services. Find CEA online at www.CE.org, www.DeclareInnovation.com and through social media: https://www.facebook.com/#!/CEAfeed, http://twitter.com/ceafeed, http://blog.ce.org/.

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