Committee on Financial Services - mars-4:hrs04F_S2128_101208 - Rayburn 2128 - A Proposal to Increase the Offering Limit under SEC Regulation A - This hearing was called--we haven't been doing much in the lame duck session, but we thought that this was a topic that was, frankly, not a partisan or terribly controversial one in a lot of ways. As I understand it, the Securities and Exchange Commission would have the power to do what we are talking about today, which was to raise the level on Regulation A. I know people keep talking about it as "Reg A," but that led some people to think that there would be Caribbean music and dancing. And I don't want to attract the wrong--not the wrong, but a different crowd to this particular hearing. My legislation on the legalization of marijuana will be heard in another committee. So I did want to keep the distinction clear, although both of these have a certain support in northern California. The question is whether or not we should be urging--our colleague from Delaware has been able to join us, and we appreciate it--the SEC, as a practical matter, to increase this limit. The argument, clearly, is that it is helpful for capital formation for smaller companies and, in fact, is no detraction from a reasonable regulatory scheme.
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