10/24/2013

At least two Republican lawmakers are concerned that the Securities and Exchange Commission may be acting contrary to the intent of a piece of legislation designed to help small companies raise money. The Jumpstart Our Business Startups Act was passed in 2012, and, among other provisions, the law lifted the ban on general solicitation. The SEC has already finalized a rule to that effect, but now it is considering additional regulations. "The additional measures that the SEC has proposed go beyond Congress's clear mandate ... and would impose unnecessary and burdensome requirements that will have adverse effects on small businesses and investors," wrote Sens. John Thune, R-S.D., and Pat Toomey, R-Pa.

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