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Senate and House Pass Rules Easing Companies' Ability to Raise Funds
November 30, 2011
In early November, the House passed H.R. 1965, which had been introduced in May. The bill, sponsored by Rep. James Himes (D-CT), would amend the 1934 Securities Act so that companies would not need to register their issuance of equity securities to be traded on an exchange unless they have at least $10 million in assets. Under current law, the threshold is $1 million for some issuers. In addition, the threshold for registration would begin with 2,000 shareholders if the issuer is a bank or bank holding company, and 500 if it is neither, according to the summary presented on GovTrack.us.
“This bill helps banks help growing businesses access the capital they need to expand and create jobs while maintaining important protections for investors,” Rep. Himes said in a statement.
Read more... | Source: The Big Fat Finance Blog.
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Good News
It was pretty good news when the senate passed this law but is it being acted upon in full sincerity? The law clearly does not benefit the small businesses, so he debate of 1% comes in and at a time when the 1% and 99% are pitted against each other, i don;t think this could have been a successful venture.
thanks for writing about
thanks for writing about this..very important info to consider
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frozen congress
LOL..this hasn't exactly changed the perception (actually, the reality) that congress isn't functioning like it's supposed to; a democrat passes a pro-business legislation and that's the only sort of thing the republicans won't block. There needs to be serious changes made through legislation.