News | 07.02.19
SEC Commissioner Jackson Seeks Data on Potential Harm of Easing Rules for Private Placements
SEC Commissioner Robert Jackson Jr. voted in favor of publishing for comment a document on easing rules surrounding investments in unregistered securities, but he has qualms about allowing ordinary investors to participate in private offerings. In a statement, Jackson pointed to wording within the document about the SEC's lack of data on investor harm caused by private placements. "The questions in this release involve a fundamental trade-off: the costs families suffer when investors are victims of fraud versus the benefits of broader access to capital," Jackson wrote. "I hope commenters will come forward with hard data that will allow us to examine how often families who invest in these instruments are victims of fraud. Without that evidence, it's hard to see how the commission can strike the basic balance any rules in this area would require."
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