Mary Shapiro’s letter on private company stock sales
Earlier today, we discussed a WSJ story that federal regulators may relax certain rules on share issuance by private companies. The article was prompted by a letter from SEC chair Mary Shapiro to Rep. Darryl Issa (R-CA), chairman of the House Committee on Oversight and Government Reform.
We now have a copy of the 26-page document, and are a bit underwhelmed. The SEC clearly is open to changes, but it seems more like Shapiro opened a door rather than signaled that she plans to walk through it. Judge for yourself:
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