Mon, Apr 21, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

JOBS Act: SEC delays rules on hedge fund soliciting

Monday, August 20, 2012

From Precy Dumlao, Opalesque Asia – Citing the need for more public comments, the U.S. Securities and Exchange Commission’s Chairman Mary Schapiro last week told Congress she would need more time before finalizing rules on repealing a ban on investments advertising.

Her statement quickly drew loud protest from Republicans in Congress who supported the Jumpstart Our Business Startups Act, or JOBS Act, the Wall Street Journal reported on Friday. The JOBS Act was signed into law by President Barack Obama on April 5, 2012, and contains the lifting of the advertising ban for small businesses among other things.

The SEC was given until July to come out with rules to implement the repeal of the ban, but the deadline was missed. The Commission originally slated to implement the new rule on August 22.

The Journal quoted the House oversight subcommittee’s Chairman Rep. Patrick McHenry’s letter to Schapiro as saying, "By kicking the can down the road, you are abdicating your responsibility to follow the law, failing to fulfil your sworn commitment to this subcommittee, and ignoring the will of Congress and the president." McKenry said he plans to hold a hearing on the issue next month.

The JOBS Act is a law intended to encourage funding of United States small bu......................

To view our full article Click here

Banner
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: Classic Auto Funds Limited (CAF) launches several car investing funds[more]

    Bailey McCann, Opalesque New York: A new trend in alternative alternatives is emerging - car appreciation funds. Classic Auto Funds Limited (CAF) is the first to market with several funds that make super elite luxury cars into real asset investments. As a result of growing overseas demand couple

  2. Investing – Big hedge funds bought Puerto Rico's junk bonds, Fidelity explores new trading venue amid flash trade concerns, Crisis-era Greek bonds reward early buyers with big effective returns, Cargill unit discloses stake in Freddie preferred[more]

    Big hedge funds bought Puerto Rico's junk bonds From Reuters.com: Several large hedge funds doubled down on Puerto Rico in last month's giant bond sale despite the U.S. territory's financial struggles, the Wall Street Journal reported, citing confidential documents reviewed by the newspa

  3. Opalesque Exclusive: Hedge fund replicators evolve[more]

    Bailey McCann, Opalesque New York: Hedge fund replicators as a group of products tend to get a bad rap from hedge fund managers who suggest that the best a replicator can offer is dynamic beta capture. A

  4. Opalesque Exclusive: Pensions, endowments, family offices reconsider life settlement investments[more]

    Bailey McCann, Opalesque New York: Hedge funds were once the largest investors in the life settlement industry, now the industry is seeing more interest from pensions, endowments and family offices directly. Life settlements have always been considered a niche part of the investing landscape, an

  5. SEC allows investment funds to use social media[more]

    Bailey McCann, Opalesque New York: The Securities and Exchange Commission (SEC) has released new guidance letting investment funds and advisors use social media to promote client reviews. The guidance seeks to assist investment managers in developing compliance policies and procedures reasonably