WASHINGTON -- Only about three out of ten investment bankers think new federal rules intended to encourage startups have led to more initial public offerings, according to poll results released Tuesday.
The findings from BDO, an accounting and consulting company, cast doubt on the effectiveness of the Jumpstart Our Business Startups Act signed into law in April.
Known as the JOBS Act, the bipartisan legislation was designed to give small businesses more access to capital by easing rules on stock offerings.
But BDO's survey of capital markets executives at leading investment banks found that only 29% believe the JOBS Act has been effective in increasing the number of IPOs. An earlier poll by the firm last summer showed 55% of investment bankers believed the legislation would increase IPOs.