{"id":5296,"date":"2012-03-21T00:00:00","date_gmt":"2012-03-21T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2012\/03\/sec_chairwoman_schapiro_says_j"},"modified":"2022-04-28T10:59:58","modified_gmt":"2022-04-28T15:59:58","slug":"sec-chairwoman-schapiro-says-j","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-chairwoman-schapiro-says-j\/","title":{"rendered":"SEC Chairman Schapiro Says Jumpstart Our Business Startups Act Needs Better Investor Protections"},"content":{"rendered":"<p>Earlier this month, Securities and Exchange Commission Chairman Mary Schapiro wrote a letter to Senate Banking Committee Chairman Tim Johnson (D-S.D.) over her concerns that modifications needed to be made to the Jumpstart Our Business Startups Act to make sure that investor protections are enhanced. The US Senate is heading toward a final vote on the Start-Up Focused JOBS Act. The Republican-introduced bundle of bills is geared toward helping along capital growth by loosening reporting requirements and securities law registration. The US House passed its version of the legislation on March 8.<\/p>\n<p>Today, the Senate\u2019s version passed by a 76-22 vote through a procedural process to end debating over the Act. However, before the final vote can be made, the senators must first vote on two amendments, including one that would toughen the limits on how much money a very small investor may place in a crowd-funding offering.<\/p>\n<p>The SEC is also working on a number of capital formation initiatives. In her letter, Schapiro wrote about what she considered were problems with HR 3606, including what she considered its too broad of a definition an \u201cemerging growth company,\u201d which are firms with under $700 million in public float and less than $1 billion in yearly gross revenue. She believes that this very expansiveness could get rid of important investor protections in even very big companies. Schapiro also thinks that the JOBS Act would \u201cweaken\u201d key protections by getting rid of safeguard that were implemented after the dot-com era-related research scandals, while reversing SRO-established rules that put into place \u201cmandatory quiet periods\u201d for stopping banks from using conflicted research as a reward to insiders that chose a particular bank as an underwriter.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/sec-chairwoman-schapiro-says-j\/\"  title=\"Continue Reading SEC Chairman Schapiro Says Jumpstart Our Business Startups Act Needs Better Investor Protections\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Earlier this month, Securities and Exchange Commission Chairman Mary Schapiro wrote a letter to Senate Banking Committee Chairman Tim Johnson (D-S.D.) over her concerns that modifications needed to be made to the Jumpstart Our Business Startups Act to make sure that investor protections are enhanced. The US Senate is heading toward a final vote on [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3963],"tags":[2551],"class_list":["post-5296","post","type-post","status-publish","format-standard","hentry","category-securities-law-and-regulations","tag-umpstart-our-business-startups-act"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SEC Chairman Schapiro Says Jumpstart Our Business Startups Act Needs Better Investor Protections &#8212; Investor Lawyers Blog &#8212; March 21, 2012<\/title>\n<meta name=\"description\" content=\"Earlier this month, Securities and Exchange Commission Chairman Mary Schapiro wrote a letter to Senate Banking Committee Chairman Tim Johnson (D-S.D.) &#8212; March 21, 2012\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/sec-chairwoman-schapiro-says-j\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"SEC Chairman Schapiro Says Jumpstart Our Business Startups Act Needs Better Investor Protections &#8212; 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