House Republican Blasts SEC For JOBS Act Delay

Law360, New York (August 20, 2012, 6:39 PM EDT) -- The U.S. Securities and Exchange Commission will not vote as planned Wednesday on a new rule allowing mass advertising of private securities offerings, drawing condemnation from a House Republican leader who accused the agency of flouting its congressional mandate to promptly implement the Jumpstart Our Business Startups Act.

Instead of implementing an interim rule during Wednesday's meeting, which would have allowed companies to immediately begin advertising private securities offerings, the commission will vote on a proposed rule and allow time for public comment. The JOBS Act...
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