Dems Want Tougher Rules On Unregistered Securities Sales

Law360 (September 11, 2019, 5:48 PM EDT) -- Democrats on the House Financial Services Committee on Wednesday pushed for tighter restrictions on the sale of unregistered securities, arguing that making it easier for companies to raise capital privately has siphoned opportunities from public markets where retail investors enjoy greater protection.

Several Republicans pushed back, countering that costly regulatory and litigation associated with going public have made it more attractive for companies to stay private, and Congress shouldn't be quick to pile on new rules. The long-running debate comes as the House is considering several bills that would either tighten or loosen restrictions on private capital-raising.

Rep. Carolyn Maloney, D-N.Y.,...

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