MFA Submits Comments to SEC Regarding Upcoming Implementation of the JOBS Act

On Friday, May 4, MFA submitted a comment letter to the SEC regarding its upcoming implementation of the Jumpstart Our Business Startups Act (the “JOBS Act”). In our letter, we express support for provisions of the JOBS Act that will affect the private fund industry, including Section 201, which instructs the SEC to amend Rule 506 of Regulation D to permit general solicitation and advertising activity as long as all purchasers are accredited investors, and Section 501, which increases the shareholder threshold for registration under the Securities Exchange Act from 500 persons to either 2,000 persons or 500 non-accredited investors.