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Prepared Remarks before the Small Business Capital Formation Advisory Committee

· Gary Gensler, Chair of the U.S. Securities and Exchange Commission (United States)

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· Gary Gensler Wiki · U.S. Securities and Exchange Commission WikiPrepared Remarks before the Small Business Capital Formation Advisory Committee

ContextSpeech by Gary Gensler, Chair of the U.S. Securities and Exchange Commission.

Why it mattersGensler questions exceptions to disclosure for wealthy investors.

Problems raised
  1. Accredited investor exceptions weaken the basic bargain.
  2. SPAC investors lacked IPO-level protections.
  3. Alternative routes to market carry risks.
Solutions proposed
  1. Consider carefully when exceptions are appropriate.
  2. Apply new SPAC rules.
  3. Keep time-tested protections whatever the route.
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