Since becoming head of the Securities and Exchange Commission in 2017, Jay Clayton has presided over more than two dozen measures which make life easier for America Inc. More here: by kjspeakstruth
WASHINGTON - The United States’ top market cop is slowly taking the shackles off corporations.
But a majority of them will weaken investor safeguards or diminish their rights, according to lawyers, consumer and investor groups and SEC sources. “The initiatives advanced under his leadership maintain or enhance investor protections, including by ensuring today’s investors receive the material information necessary to make investment decisions,” Natalie Strom said in a statement.
It is still too early to see the full effects of most of the changes but corporate governance experts worry that they swing the balance in favor of companies and make public markets more treacherous for both institutional and retail investors. This week, he proposed changes that would limit the ability of shareholders to submit proposals on items like executive compensation to company management.
But there are other reasons why companies are staying private, denying ordinary investors the sort of investment opportunities they traditionally rely on to fund their retirement. The IPO market has improved this year. As of the end of October, there had been 37 small-cap company listings, each raising between $300 million and $1 billion, on track to beat last year’s 39 listings and in line with 2017.
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