House Bills Ease SEC Rules on Raising Capital

Thursday, 03 Nov 2011 10:38 PM

 

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WASHINGTON — The House has put aside its differences over how to promote economic growth and passed two bills making it easier for small, privately owned businesses to raise the capital needed to expand with fewer federal restraints.

The bills passed Thursday remove Security and Exchange Commission restrictions that now make it difficult for small businesses both to solicit funds from wealthy investors and to turn to the Internet to attract small-scale contributors.

The measures enjoyed wide bipartisan support and follow the near-unanimous passage Wednesday of two similar bills aimed at relaxing SEC rules for small entrepreneurs and community banks seeking to gather capital.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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