We cannot underestimate the situation we are now in: the capital markets have collapsed; trillions of dollars of wealth have been lost; our economy is in recession; and investor confidence has been badly shaken.
Schapiro highlights the severity of the economic crisis and its impact on markets.
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More from Mary L. Schapiro
I believe that the definition of 'accredited investor' as it stands today does a poor job of screening out people who are unsophisticated.
Companies seeking access to capital should not be overburdened by unnecessary or superfluous regulations.
We think the budget increase is really essential, given the additional responsibilities that the agency is taking on under Dodd-Frank and under the JOBS Act.