Sessions Supports Measure to Amend SEC Rules that Stifle Innovation and Job Creation

WASHINGTON, DC – U.S. Congressman Pete Sessions (R-TX), chairman of the House Rules Committee, today issued the following statement after voting in favor of a measure that will benefit small businesses by eliminating unnecessary burdens and ensuring the Securities and Exchange Commission (SEC) adapts to changes in the marketplace and inflation, as well as periodically reviewing its rules:

“Today’s vote represents another way House Republicans are committed to fairness in the marketplace, so that business owners on Main Street are not unfairly subjected to the SEC requirements given to larger public companies on Wall Street. This measure allows private companies more flexibility to reward and retain employees with a company’s securities, as well as permit private companies to keep and incentivize valuable employees without having to resort to borrowing money or selling securities. Perhaps most importantly, this package contains elements that ensure the SEC adapts to ever-changing markets by regularly reviewing its rules in meaningful and rigorous ways. Small businesses are the backbone of the American economy, and with this legislation, entrepreneurs and start-ups will be able to remain at the forefront of innovation and job creation.”

For more information on H.R. 1675, the Capital Markets Improvement Act, click here.

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Created:
Feb 3, 2016