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Senate Dems demand SEC protect investors

Senate Democrats demanded that the Securities and Exchange Commission (SEC) do more to protect investors. Sens. Carl Levin (D-Mich.), Jack Reed (D-R.I.), Elizabeth Warren (D-Mass.) and Ed Markey (D-Mass.) sent a letter on Tuesday to SEC Chairwoman Mary Jo White asking her to implement safeguards to protect investors from fraud and abuse in private securities offerings. “We urge you to act promptly to finalize and strengthen investor protections for private securities offerings that you proposed more than one year ago,” the senators wrote. “We are deeply concerned that, for the last year, the Commission has allowed private securities offerings to take place using general solicitation and advertising without adequate investor protections.” More on The Hill here.

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