Jobs Act could remove investor protections, SEC chair Mary Schapiro warns

A bill the House passed last week to make it easier for companies to raise money could also make it easier for companies to cheat investors, the chairman of the Securities and Exchange Commission says.

It’s called the Jobs Act — an acronym for “Jumpstart Our Business Startups” — and lawmakers of both parties have promoted it as a way to boost a weak economy. But regulators and investor advocates have argued that it could expose investors to fraud.

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