AFR and CFA sent a letter to the Senate, urging their support of the Reed-Landrieu-Levin amendment which addresses many of the concerns that we have with the House JOBS Act, which the Senate has taken up.
INVEST in America Act (S.A. 1833) vs. JOBS Act (H.R. 3606) Reed-Landrieu-Levin Amendment 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 public using billboards along the highway,
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 derivative securities, and the profits were
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.
AFR sent a letter to the SEC and CFTC urging regulators not to revise and loosen their original definition of ‘swap dealer’.
As the House takes up consideration of the JOBS Act, AFR and Consumer Federation of America wrote to members of the House in support of a handful of amendments that would make modest, incremental improvements in the legislation’s investor protections. The amendments cannot overcome the bill’s fundamental flaws, however. So, even if the amendments are adopted, CFA and AFR urged opposition to the overall bill.
As the U.S. House of Representatives prepares to vote this week on the JOBS Act, consumer and investor groups from around the country wrote to urge the House not to adopt this anti-investor bill. The legislation would roll back important investor protections, undermine market transparency, and, as a result, drive up the cost of capital for the small companies it purports to benefit. The groups warned that it is more likely to harm the economy than to produce sustainable jobs growth.