Today is one of those days when SEC Commissioner Mary Jo White must march up to Capitol Hill and justify the SEC’s actions over proceeding months while requesting a budget increase to cover the cost of the Agency’s growing responsibilities.
Chair of the Financial Services Committee, Jeb Hensarling, in his opening statement, said there was both “good and bad”. Hensarling saw positive items in the completion of the JOBS Act rule making, including Title IV (Reg A+) and Title III crowdfunding exemptions. Hensarling, as would be expected, saw more bad than positive ticking off a list of items that he believed were not helpful.
Hensarling is of the opinion;
“Real investor protection comes from innovative capital markets that are vigorously policed for fraud and deception, allow capital formation to flourish, and give investors the freedom to make informed investment decisions free from government interference and control.”
You may watch the opening statement below.