Obama JOBS Act Helped Big Companies Avoid Transparency

“Legislation that was supposed to help smaller companies go public has aided larger firms to keep financial data out of the hands of investors.

The “Jumpstart Our Business Startups Act” (or JOBS Act) was promoted by President Barack Obama as a way to assist small businesses in their efforts to raise money through IPOs (stock market launches).

The same legislation, though, made it possible for larger companies (those earning less than $1 billion a year) to dodge reporting details about executive compensation and financial histories to the Securities and Exchange Commission.”

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