Unfortunately, H.R. 5037, seems to be aimed directly at the Martin Act, and by preempting these State laws, the bill would allow small-time fraud to run rampant.
Editor's note · Context
Capuano warns that H.R. 5037 threatens state-level fraud protections.
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I am particularly opposed to this bill because in New York State, we have a powerful securities fraud law, called the Martin Act.
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