Congress sends startup investment bill to Obama (Mar 27, 2012)
It's refreshing to see Congress and Obama paying attention to "growth" companies and enacting legislation to make it easier to go public. Great article.
"WASHINGTON (AP) - Despite warnings that less government oversight might mean more investment scams, Congress on Tuesday sent President Barack Obama legislation he endorsed making it easier for startups to raise capital without running afoul of federal regulations.
The legislation, backed by Silicon Valley and the high-tech industry, is on course to be one of the few achievements this year for a Congress mired in partisan divisions and primed for the fall elections."
..."The centerpiece provision would phase in SEC regulations over a five-year period to allow smaller companies to go public sooner. Firms that have annual gross revenues of less than $1 billion would enjoy this "emerging growth company" status.
Another provision facilitates the practice of "crowdfunding" in which the Internet is used to solicit a large number of smaller investors."
(www.pennlive.com/newsflash/index.ssf/story/congress-sends-startup-investment-bill-to-obama/429e692f9367459a8cfe8dd29239b1d3)
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