Senate Rejects SEC-Proposed Changes To JOBS Act

Law360, New York (March 20, 2012, 7:40 PM EDT) -- The U.S. Senate on Tuesday declined to add investor protections to a package of bills designed to make it easier for companies to attract capital, despite concerns among securities regulators and some Democrats that the House-approved measures would risk a return to the boiler room days of old.

The alternative proposal, submitted by a group of Senate Democrats, failed to garner the 60 votes necessary to clear a procedural hurdle, dying on a 55-44 vote. But Senate Majority Leader Harry Reid, D-Nev., ended Tuesday's session without...
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