Toward A Friendlier Sec

THE GOP CONGRESS HAS FIRED another salvo in its drive to streamline securities laws. Jack Fields (R-Tex.), chairman of the House Commerce subcommittee on telecom and finance, planned on July 27 to introduce a bill to reduce corporate regulatory burdens. The bill would create a national securities regulation system that eliminates duplicate filings required under state laws. It also would privatize the Securities & Exchange Commission's computerized filing system and force it to consider compliance costs of future regulations.

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