JOBS Act merits greater scrutiny March 18, 2012 6:01 am ET AS MUCH AS IT WARMS the cockles of our hearts to see House Republicans, Senate Democrats and President Barack Obama united in their efforts to get more Americans back to work, we are discouraged
California State Teachers’ Retirement System sent a letter to Senator Feinstein opposing the JOBS Act.
Read the letter sent to Majority Leader Reid and Minority Leader McConnell by the California Public Employees’ Retirement System opposing the JOBS Act.
Click here to view this week’s highlights and lowlights in Wall Street Reform – March 10, 2012 – March 16, 2012.
“The House voted 390 to 23 last week for a bill (PDF) to provide regulatory relief for small companies trying to raise capital. The bill is moving quickly through the Senate; no one likes unnecessary regulations that burden economic growth. But this bill does more than trim regulatory fat; parts of it cut into muscle. Small businesses will have a harder time raising capital if investors do not receive sufficient disclosures or other legal protections.”
“Last week, the House of Representatives passed H.R. 3606, the ‘Jumpstart Our Business Startups Act.’ It is clear to me that H.R. 3606 in its current form weakens or eliminates many regulations designed to safeguard investors. I must voice my concerns because as an SEC Commissioner, I cannot sit idly by when I see potential legislation that could harm investors. This bill seems to impose tremendous costs and potential harm on investors with little to no corresponding benefit.”
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.