The US Securities and Exchange Commission (SEC) is considering changing 70 years of securities laws, by allowing some IPO issuers to communicate with investors before an offering.
Companies launching an IPO in the US (and in Europe) have always been prevented from making any information on the company available before a listing save that which is in the prospectus. But the five SEC commissioners voted unanimously yesterday, Tuesday, to put out a discussion paper suggesting the scrapping of these rules.
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