Investor Protection

CFA Urges House Financial Services Committee to Oppose Eight Bills Which Would Weaken Regulatory Oversight

 |  Testimony & Comments

This week the House Financial Services Committee is scheduled to mark up a series of bills that double down on the belief that you can promote healthy, sustainable capital formation by weakening protections for the providers of capital. The Committee continues to promote this approach despite a total lack of evidence that it is effective in increasing the amount of capital raised, as opposed to simply shifting capital raising into progressively less well-regulated areas of the markets. Among the ten capital markets bills being marked up this week, all but two would significantly weaken regulatory oversight, reduce transparency, and generally undermine the regulatory framework that helped make America’s financial markets the deepest, most vibrant markets in the world. Therefore, CFA and Americans for Financial Reform are urging Committee members to oppose the following eight bills scheduled for mark-up:

  • R. 4850, the “Micro Offering Improvement Act”
  • R. 4852, the “Private Placement Improvement Act”
  • R. 4854, the “Supporting America’s Innovators Act”
  • R. 4855, the “Fix Crowdfunding Act”
  • R. 5311, the “Corporate Governance Reform and Transparency Act”
  • R. 5421, the ‘‘National Securities Exchange Regulatory Parity Act’’
  • R. 5424, the “Investment Advisers Modernization Act”
  • R. 5429, the “SEC Regulatory Accountability Act”