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Thune, Toomey Call on SEC to Follow the Law

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WASHINGTON D.C. (KELO-AM) U.S. Senators John Thune (R-S.D.) and Pat Toomey (R-Pa.), Senate sponsors of a major provision included in the bipartisan Jumpstart Our Business Startups (JOBS) Act, today sent a letter to Securities and Exchange Commission (SEC) Chairman Mary Jo White to express concern over the SEC’s implementation of the JOBS Act, which was signed into law in April of 2012.

In their letter, the senators write: “The additional measures that the SEC has proposed go beyond Congress’s clear mandate in Section 201, and would impose unnecessary and burdensome requirements that will have adverse effects on small businesses and investors, and undo the progress made under Section 201.” 

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