A group of bi-partisan U.S. Senators announced a plan to aid small- and medium-sized firms to access capital through public markets to help them expand in order to create more jobs in the market. The plan is sponsored by Senators Charles Schumer (D-N.Y.), Pat Toomey (R-Pa.), Mark Warner (D-Va.), and Mike Crapo (R-Idaho).
The bill, dubbed as the Reopening American Capital Markets to Emerging Growth Companies Act of 2011, would reduce hurdles of an initial public offering (IPO) by phasing in many of the costliest obligations over time while maintaining key investor protections.
