推动证券改革:消除SEC的整合原则

Stuart R. Cohn
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引用次数: 1

摘要

根据联邦证券法筹集资金的小型和发展中公司往往面临证交会整合原则施加的相当大的障碍。尽管最近在注册豁免方面进行了改革,但整合原则仍未受到影响,对于许多需要多次注资的公司来说,这仍然是一个重大问题。本文审查并建议将整合原则几乎完全消除。
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Keep Securities Reform Moving: Eliminate the SEC's Integration Doctrine
Small and developing companies raising capital under the federal securities laws often face the considerable barrier imposed by the SEC's integration doctrine. Despite recent reforms in registration exemptions the integration doctrine has remained untouched and continues to be a significant problem for many companies needing multiple infusions of capital. This article examines and recommends that the integration doctrine be eliminated nearly in its entirety.
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