Facebook Fiasco Has SEC Rethinking IPO Gag Rules

Law360, New York (August 27, 2012, 8:19 PM EDT) -- After Facebook Inc.'s disaster of a first offering in May, U.S. securities regulators are considering whether to loosen limits on what companies can say in the days surrounding their initial public offerings, a move experts say could help level the playing field between small and large investors.

In a letter sent last week to Rep. Darrell Issa, R-Calif., U.S. Securities and Exchange Commission Chairman Mary Schapiro said she had instructed her staff to review the "quiet period" rules that generally bar company insiders and others from...
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