Oversight Chair Wants SEC To Examine 'Flawed' IPO Process
Rep. Darrell Issa, R-Calif., claims the Securities Act of 1933 is “fraught with conflicts of interest and incentives to misprice shares,” because it gives underwriters substantial discretion to dictate the pricing of shares.
“The Facebook IPO taught us that, at a minimum, the IPO process suffers substantial flaws,”...
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