On the recordNovember 3, 2011
In closing, Madam Chair, I appreciate Mr. Watt's comments. They're legitimate, except that the purpose of this is to have in effect a national solicitation notification nationally to the SEC, and then the powers of the States kick in, as opposed to individual notification State by State. And I appreciate his concern-- it's legitimate, but to make this work, you have to have a structure that allows for the national offering, notice to the States, and then the States' police powers kick in. And the SEC has its police powers as well if there is any fraud, manipulation, misrepresentation, or the like. With that, I would urge adoption of the amendment. I yield back the balance of my time. The Acting CHAIR. The question is on the amendment offered by the gentleman from Colorado (Mr. Perlmutter). The amendment was agreed to. The Acting CHAIR. The Committee will rise informally. The Speaker pro tempore (Mr. McHenry) assumed the chair. ____________________
