Congress focuses on changes in securities laws.
Government Finance Review › Vol. 11 Nbr. 5, October 1995
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Summary
The 104th Congress is convinced that current securities laws and regulatory activities hamper US firms' ability to attract capital negatively affects their global competitiveness. Congress is thus considering proposals to revamp the SEC, reform securities litigation laws and allow the preemption of state securities laws. These proposals will dilute the protections and remedies in securities trading to the detriment of public investments.
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Extract
Congress focuses on changes in securities laws.
Charging that existing securities laws and regulatory activities have hampered the ability of U.S. corporations to attract capital and therefore compete globally, the 104th Congress has embarked on a mission that threatens state and local government and other funds. In an attempt to dilute the protections and remedies that now exist to cushion public funds from the misdeeds of those with whom public investors deal, including pension fund managers, Congress is focusing on three key efforts that will reduce these protections for state and local governments and thei...
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