AFR sent the following letter to Senate Democratic members of the Conference Commmittee today.
June 16, 2010
Dear Senate Conferee:
Americans for Financial Reform (AFR) and some its major partners, including
AARP, AFL-CIO, AFSCME, Consumer Federation of America, ShareOwners.org and SEIU, supported efforts in the Senate to include private aiding and abetting liability under the securities laws in the Wall Street reform package you approved last month. Of course, we were disappointed when there was not time on the floor for consideration of the amendment Senators Specter and Reed had introduced to provide this important remedy to defrauded investors.
As such, we were pleased that the amendment offered today by Rep. Waters to the House offer to the Senate was approved by her colleagues. As you know, that amendment will provide for private aiding and abetting under the
securities laws. We urge you to support this provision of the House offer
to the Senate when you consider it later today.
If you have questions, please contact Maureen Thompson.