The Rep. Royce explained that well saying that "The SEC’s interpretation of the law has created a two-tiered playing field by giving this 'blue sky' exemption only to these three exchanges which existed in 1996. It was not the intention of Congress to create such a carve-out. This bill, the National Securities Exchange Regulatory Parity Act, rights this wrong. It provides clarity around the exemption, which will now apply to all securities listed on a national exchange regulated by the [Securities and Exchange Commission], with Commission-approved listing standards. Why is this exemption important? You could ask anyone from Massachusetts who tried to invest in a little company called Apple during its IPO. State regulators banned the stock for being 'too risky'."
We have officially entered Summer but the US government remains very active to update and improve the current regulation, making us even more positive and bold for the months ahead. Like it or not, the finance industry is going through a radical change, and there is now plenty of space for financial companies that are able to see the opportunities arising from this change.
Image credit: By Lawrence Jackson (whitehouse.gov) [Public domain], via Wikimedia Commons.
Alessandro is Co-founder & CMO of Crowd Valley. He has worked in the fintech industry, with marketplace investing and lending, since 2011. Has built and managed digital companies with distributed teams and international partners, and gained experience with both startups and large corporations, having worked with British Telecom, Bloomberg and the Grow VC Group.
Alessandro grew up in Italy, where he graduated with a B.A. in Economics at University of Parma, before to obtain a M.S. in Finance at Regent’s University London. He studied and worked in many different cities, including Munich, Geneva, London, Barcelona and Valencia. Genuinely passionate about financial technology and innovation, he loves to spend his spare time traveling and discovering new cultures. You can find him on Twitter at @aleravanetti.