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Ranking Member McHenry Commends SEC Move to Strengthen Capital Markets

Washington, Sep 26 -

WASHINGTON – The top Republican on the House Financial Services Committee, Patrick McHenry (NC-10) issued the following statement in response to the U.S. Securities and Exchange Commission’s (SEC) new rule to extend the “test-the-waters” accommodation to all issuers, enabling them to gauge market interest in initial public offerings (IPOs):

“I applaud the SECs commitment to strengthening our public markets, which gives everyday American investors a greater opportunity to grow their savings. The “test-the-waters” accommodation is a prime example of policies, first introduced in the Jumpstart Our Business Startups (JOBS) Act, that modernize regulations and support job creators. I look forward to continuing to work with the SEC to find innovative solutions for investors, issuers, and our public capital markets.”

Earlier this week, Ranking Member McHenry asked SEC Chairman Jay Clayton if the Commission would be willing to revisit Regulation Crowdfunding, included in the JOBS Act, which has strong potential to help small businesses. Read more here.

Read more on the SEC’s new “test-the-waters” rule here.