The so-called Jobs Act, which steamed through the House earlier this month, has run into crosswinds.
The bill has President Obama’s support and is likely to pass the Senate. But a The New York Times editorial took aim at it, a critical statement from Securities and Exchange Commission Chairman Mary Schapiro argues it will chip away at objective investment analysis, and former SEC chair Arthur Levitt has described it as “investor unfriendly.”
The Council of Institutional Investors called for a re-evaluation. Even the consistently conservative U.S. Chamber of Commerce worries about the provision allowing Wall Street analysts to write research reports prior to a startup’s IPO.
To read the full, original article click on this link: The IPO Bill Hits Crosswinds, Which Might Be a Good Thing | peHUB
