Investor Protection

Organizations and Individuals Critical of Anti-investor Provisions in the House JOBS Act and Companion Senate Bills

 |  Press Release

The following are among the organizations and individuals that have raised concerns about anti-investor provisions in the House JOBS Act and companion Senate bills:

Current and Former Securities Regulators

  • North American Securities Administrators Association (letter available here)
  • Former SEC Chairman Arthur Levitt (quoted here)
  • Former SEC Chief Accountant Lynn Turner (Senate testimony available here)

Consumer and Investor Advocates

  • AARP (letter of opposition sent 3/7/12)
  • Americans for Financial Reform (letters of opposition available here and here)
  • Consumer Federation of America (statement for Senate hearing available here, letter of opposition available here, statement on House passage available here)
  • Council of Institutional Investors (letter of concern available here)

In addition, 21 consumer, community and labor groups signed on to a group opposition letter available here.  They included:

  • Chicago Consumer Coalition
  • Consumer Action
  • Consumer Federation of California
  • Consumer Federation of the Southeast
  • Empowering and Strengthening Ohio’s People (ESOP)
  • Florida Consumer Action Network
  • Massachusetts Communities Action Network
  • National Association of Consumer Advocates (NACA)
  • National Consumers League
  • NEDAP
  • ProgressOhio
  • Public Citizen
  • U.S. PIRG
  • Virginia Citizens Consumer Council
  • Will Will Win, Inc.

Unions

  • AFL-CIO (letter of opposition available here)
  • AFSCME (signed on to group letter)
  • National Education Association (signed on to group letter)

Academics

  • Columbia Law School Professor John Coffee (Senate testimony available here)
  • Harvard Professor of Business and Law John Coates (Senate testimony available here)
  • University of Florida Finance Professor Jay Ritter (Senate testimony available here)
  • SAFER: The Economists’ Committee for Stable, Accountable, Fair, and Efficient Financial Reform (signed on to group letter)

Business Community

  • Main Street Alliance (signed on to group letter)
  • Motley Fool Mutual Fund Manager Bill Mann (commentary available here)
  • Renaissance Capital’s K