A bipartisan group of Senators “tonight scored a victory that will provide strong protections for investors while promoting small business startups vital to job creation,” according to a joint press release.
A bipartisan amendment sponsored by Senators Kit Bond (R-MO) and Senate Banking Committee Chairman Christopher Dodd (D-CT) and co-sponsored by Senators Mark Warner (D-VA), Scott Brown (R-MA), Maria Cantwell (D-WA) and Mark Begich (D-AK) was adopted by voice vote as part of the financial reform bill being debated in the Senate.
The Senators’ amendment which passed tonight will ease restrictions in the financial reform bill for accredited investors. The amendment promotes small business startups by speeding and increasing the availability of essential seed capital from qualified investors. Specifically, the Bond, Dodd, Warner, Brown, Cantwell and Begich amendment eliminates the language in the underlying bill that required a 120 day Securities and Exchange Commission review period for investors that prove an annual income in excess of $200 thousand and net worth totaling more than $1 million.
To read the full, original article click on this link: Bond/Dodd Financial Reform Amendment Passes « S E N A T U S
Author: senatus
(credit image – associated press)
