Frank Lucas actually said...

"The proposed rules have a major impact on every asset class under the SEC's jurisdiction, with serious consequences for public companies, investors, and retirees."

"However, my belief is that NOAA's mission and its important role in research and development warrant a placement outside of the Department of Commerce."

"I believe it is clear that the SEC should not move forward until a proper impact analysis can be conducted."

"I encourage all my colleagues to listen closely as they point out the difficulties they faced and how an organic act can avoid these problems in the future."