A bipartisan group of lawmakers called on regulators to overhaul the way initial public offerings are conducted, concerned that last month’s flubbed stock sale by Facebook Inc. shows the current system unfairly punishes small investors.
In a letter to Securities and Exchange Commission Chairman Mary Schapiro, Rep. Darrell Issa (R., Calif.) prodded the agency to revamp rules for pricing and disclosure in IPOs.
Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Web Sites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other Web sites, and for clarity’s sake, all outside posts run against a pink background.
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Voices is edited by Beth Callaghan.
