SEC Denies JOBS Act Rule Was Delayed To Protect Legacy

Law360, New York (December 3, 2012, 9:48 PM EST) -- The U.S. Securities and Exchange Commission said Monday that its decision to delay the implementation of a federal provision affecting private securities offerings was made in line with its overall efforts to protect investors, following allegations that the chairwoman was simply trying to protect her legacy.

On behalf of Chairwoman Mary Schapiro, who is set to step down from her post next week, the agency rebuffed a letter sent by Rep. Patrick McHenry, R-N.C., that suggested her delay in implementing a section of the Jump-Start Our...
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