Securities and Exchange Commission: Securities Offering Reform
GAO-05-951R: Aug 17, 2005
- Full Report:
GAO reviewed the Securities and Exchange Commission's (SEC) new rule on securities offering reform. GAO found that (1) the rule modifies the registration, communications, and offering processes under the Securities Act and eliminates unnecessary and outmoded restrictions on offerings and provides more timely investment information to investors with mandating delays in the offering process that are inconsistent with the needs of issuers for timely access to capital; and (2) SEC complied with applicable requirements in promulgating the rule.