The JOBS Act which authorizes new, broader and simpler ways for companies to raise money will go into effect in 2013. But in order for this to happen, the Securities and Exchange Commission, tasked with overseeing the implementation and enforcement of the JOBS Act, must decide on a plan of action by December 31st. It is far from certain that they'll be able to meet this deadline.
The SEC still must: draft and publish the specific rules that will allow entrepreneurs to communicate with potential investors; design protection mechanisms against fraud; prepare educational materials for investors; build systems to monitor the money flow; and more. Even if the SEC meets its deadline, the Financial Industry Regulatory Authority (FINRA) must then draft the rules on how the transactions will work. There is no deadline for FINRA and they don't plan to even start the process until the SEC finishes their part. Then once FINRA is done, the SEC must sign off on their work. Expect a year or more of delays.
Learn more at The Washington Post.