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Letters from Critics of the JOBS Act

Submitted by on March 2, 2012 – 9:07 am

The following are among the organizations and individuals that have raised concerns about anti-investor provisions in the House JOBS Act and companion Senate bills:

 

Current and Former Securities Regulators

 

North American Securities Administrators Association (letter available here)

Former SEC Chairman Arthur Levitt (quoted here)

Former SEC Chief Accountant Lynn Turner (Senate testimony available here)

 

Consumer and Investor Advocates

 

AARP (letter of opposition sent 3/7/12)

Americans for Financial Reform (letters of opposition available here and here)

Consumer Federation of America (statement for Senate hearing available here, letter of opposition available here, statement on House passage available here)

Council of Institutional Investors (letter of concern available here)

 

In addition, 21 consumer, community and labor groups signed on to a group opposition letter available here.  They included:

 

Chicago Consumer Coalition

Consumer Action

Consumer Federation of California

Consumer Federation of the Southeast

Empowering and Strengthening Ohio’s People (ESOP)

Florida Consumer Action Network

Massachusetts Communities Action Network

National Association of Consumer Advocates (NACA)

National Consumers League

NEDAP

ProgressOhio

Public Citizen

U.S. PIRG

Virginia Citizens Consumer Council

Will Will Win, Inc.

 

Unions

 

AFL-CIO (letter of opposition available here)

AFSCME (signed on to group letter)

National Education Association (signed on to group letter)

 

Academics

Columbia Law School Professor John Coffee (Senate testimony available here)

Harvard Professor of Business and Law John Coates (Senate testimony available here)

University of Florida Finance Professor Jay Ritter (Senate testimony available here)

SAFER: The Economists’ Committee for Stable, Accountable, Fair, and Efficient Financial Reform (signed on to group letter)

 

Business Community

Main Street Alliance (signed on to group letter)

Motley Fool Mutual Fund Manager Bill Mann (commentary available here)

Renaissance Capital’s Kathleen Shelton Smith (Senate testimony available here

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