In a letter to members of the US House Financial Services Committee, CFA urges opposition to a set of bills that claim to promote capital formation but instead undermine our capital markets. Not one of these bills does anything to encourage investors to commit more capital to investment in small companies, to increase the likelihood that more private companies will choose to go public, or to make it easier for investors to get reliable information on which to base their investment decisions. On the contrary, the bills continue this Committee’s relentless attack on the transparency and efficiency so crucial to our markets’ health and integrity. For that reason, CFA urges a 'no' vote on all of these measures.

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