Articles tagged with: investor protection
INVEST in America Act (S.A. 1833) vs. JOBS Act (H.R. 3606)
Mar. 15, 2012
Seven Essential Fixes to the House Bill
The House bill would allow companies to advertise risky, less-regulated, unregistered private offerings to the general …
NEW YORK TIMES
March 15, 2012
Paving Path to Fraud on Wall St.
By FLOYD NORRIS
Nearly 20 years ago, Bankers Trust was riding high. The bank, based in New York, had become known as an expert in then-newfangled …
Fund Democracy sent a letter to Senate Majority Leader Reid, and Minority Leader McConnell supporting the CROWDFUND Act.
The AFL-CIO released an executive statement slamming the JOBS Act as a Wall Street scam.
Mary Schapiro, Chairman of the Securities Exchange Commission (SEC) sent a letter to Senators Johnson and Shelby voicing her concerns over the JOBS Act.
Read the letter here.
“It’s hard to believe that Democrats, who brought you the Dodd-Frank financial regulation act and the Consumer Financial Protection Bureau, are solidly backing a bill that would weaken or obliterate many regulations designed to safeguard investors. The bill, HR3606, sailed through the House Thursday with 222 Republicans and 168 Democrats voting for it. Only 23 members, all Democrats, voted against it. President Obama has endorsed the bill. The Senate is fast-tracking its own version, which could come to the floor Monday night. …AARP, Americans for Financial Reform, the North American Securities Administrators Association and the Council of Institutional Investors have strongly opposed all or some parts of the bill.”
“House Republicans, Senate Democrats and President Obama have found something they can all support: a terrible package of bills that would undo essential investor protections, reduce market transparency and distort the efficient allocation of capital. …Dozens of legal experts and advocates for investors and consumers have written to Senate leaders warning that extensive revisions must be made to the House legislation for it to be even minimally acceptable.”