Lawmakers Push for Overhaul of IPO Process

Published on June 20, 2012
by Jean Eaglesham and Telis Demos

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.

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