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House Committee Approves 500-Shareholders Bill

Posted on 10/26/2011

The House Financial Services Committee this morning approved, by voice vote, legislation (H.R. 1965) by Rep. Jim Himes (D-CT) and Rep. Steve Womack (R-AR) that would raise the threshold for registration with the Securities and Exchange Commission (SEC) to 2,000 shareholders for financial institutions. The bill also would raise the deregistration threshold to 1,200. The change would enable banks to deploy their capital in lending rather than spending it on regulatory requirements that provide little incremental benefit to the banks, shareholders, or the public.

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